Bessemer Group Inc. Boosts Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Bessemer Group Inc. boosted its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 0.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 17,594 shares of the company’s stock after purchasing an additional 126 shares during the quarter. Bessemer Group Inc.’s holdings in Royal Caribbean Cruises were worth $4,059,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Brown Brothers Harriman & Co. increased its holdings in shares of Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Bay Harbor Wealth Management LLC bought a new stake in Royal Caribbean Cruises in the 4th quarter worth about $36,000. Truvestments Capital LLC bought a new stake in Royal Caribbean Cruises in the 4th quarter worth about $36,000. ORG Wealth Partners LLC purchased a new position in Royal Caribbean Cruises in the 4th quarter worth about $40,000. Finally, Atlantic Edge Private Wealth Management LLC lifted its stake in Royal Caribbean Cruises by 100.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company’s stock valued at $46,000 after acquiring an additional 100 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Jason T. Liberty sold 58,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total value of $15,193,100.00. Following the sale, the chief executive officer now directly owns 143,214 shares in the company, valued at approximately $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 19,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the transaction, the director now directly owns 185,021 shares of the company’s stock, valued at approximately $47,491,190.28. The trade was a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,492 shares of company stock worth $28,571,705 in the last 90 days. 7.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $191.98 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a twelve month low of $125.06 and a twelve month high of $277.08. The business has a 50-day moving average price of $224.70 and a 200-day moving average price of $225.30. The firm has a market cap of $51.67 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 7th were issued a $0.75 dividend. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Friday, March 7th. Royal Caribbean Cruises’s payout ratio is currently 28.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RCL shares. Susquehanna reaffirmed a “positive” rating on shares of Royal Caribbean Cruises in a research report on Tuesday, March 25th. Macquarie lifted their price objective on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Mizuho reissued an “outperform” rating and issued a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Stifel Nicolaus cut their price target on Royal Caribbean Cruises from $310.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group increased their price objective on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average target price of $276.95.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.