Nissay Asset Management Corp Japan ADV Reduces Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Nissay Asset Management Corp Japan ADV trimmed its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 22.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 297,473 shares of the company’s stock after selling 86,270 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Royal Caribbean Cruises were worth $69,225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of RCL. Venturi Wealth Management LLC increased its stake in shares of Royal Caribbean Cruises by 511.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company’s stock worth $498,000 after acquiring an additional 1,804 shares in the last quarter. Park Avenue Securities LLC increased its stake in Royal Caribbean Cruises by 20.1% during the 4th quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock valued at $1,530,000 after purchasing an additional 1,111 shares in the last quarter. Lorne Steinberg Wealth Management Inc. bought a new stake in Royal Caribbean Cruises during the 4th quarter valued at about $231,000. Geode Capital Management LLC increased its stake in Royal Caribbean Cruises by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company’s stock valued at $1,373,856,000 after purchasing an additional 353,893 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Royal Caribbean Cruises by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 291,027 shares of the company’s stock valued at $67,137,000 after purchasing an additional 7,740 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Trading Up 2.3%

RCL stock opened at $247.70 on Wednesday. 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 $130.08 and a twelve month high of $277.08. The stock has a market capitalization of $67.27 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 0.90 and a beta of 2.12. The firm’s fifty day simple moving average is $209.46 and its two-hundred day simple moving average is $228.96.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.18. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.77 earnings per share. As a group, analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Royal Caribbean Cruises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.21%. Royal Caribbean Cruises’s payout ratio is presently 24.92%.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the transaction, the insider now directly owns 21,155 shares in the company, valued at $5,539,648.30. This represents a 41.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,492 shares of company stock worth $28,571,705. Insiders own 7.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RCL shares. Macquarie dropped their price target on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Loop Capital raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a report on Wednesday, March 5th. BNP Paribas started coverage on shares of Royal Caribbean Cruises in a report on Thursday, March 27th. They set an “outperform” rating and a $262.00 price target on the stock. The Goldman Sachs Group dropped their price target on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Argus raised their price target on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.30.

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.