Capital International Investors Buys 278,860 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Capital International Investors increased its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 0.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 29,712,610 shares of the company’s stock after purchasing an additional 278,860 shares during the period. Royal Caribbean Cruises accounts for 1.3% of Capital International Investors’ investment portfolio, making the stock its 16th largest position. Capital International Investors owned about 11.05% of Royal Caribbean Cruises worth $6,854,905,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. increased its holdings in shares of Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares during the period. Bay Harbor Wealth Management LLC bought a new position in Royal Caribbean Cruises in the 4th quarter worth about $36,000. Truvestments Capital LLC bought a new position in Royal Caribbean Cruises in the 4th quarter worth about $36,000. ORG Wealth Partners LLC purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $40,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its position in shares of 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 last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of RCL stock opened at $192.52 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The firm has a market cap of $51.81 billion, a P/E ratio of 18.01, a P/E/G ratio of 0.90 and a beta of 2.26. The business’s 50 day moving average price is $218.83 and its 200-day moving average price is $225.35. Royal Caribbean Cruises Ltd. has a fifty-two week low of $127.10 and a fifty-two week high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same quarter in the prior year, the company posted $1.25 EPS. On average, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 7th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.56%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, March 7th. Royal Caribbean Cruises’s payout ratio is presently 28.06%.

Royal Caribbean Cruises announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RCL shares. Citigroup raised their target price on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Argus upped their target price on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. BNP Paribas initiated coverage on Royal Caribbean Cruises in a research report on Thursday, March 27th. They set an “outperform” rating and a $262.00 price target on the stock. UBS Group upped their price objective on Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley decreased their price objective on Royal Caribbean Cruises from $270.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.95.

Insiders Place Their Bets

In related news, CEO Jason T. Liberty sold 58,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $37,514,907.30. This represents a 28.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard D. Fain sold 19,500 shares of the firm’s stock in a transaction 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 $47,491,190.28. This represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,492 shares of company stock worth $28,571,705. Company insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Profile

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.