ProShare Advisors LLC Raises Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

ProShare Advisors LLC grew its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,273 shares of the company’s stock after acquiring an additional 3,366 shares during the quarter. ProShare Advisors LLC’s holdings in Royal Caribbean Cruises were worth $9,983,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Brown Brothers Harriman & Co. boosted its stake in Royal Caribbean Cruises by 618.8% during 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 during the period. Bay Harbor Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter worth about $36,000. Truvestments Capital LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter valued at about $36,000. Atlantic Edge Private Wealth Management LLC lifted its position 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 worth $46,000 after acquiring an additional 100 shares during the period. Finally, Quent Capital LLC increased its holdings in shares of Royal Caribbean Cruises by 40.2% in the fourth quarter. Quent Capital LLC now owns 237 shares of the company’s stock valued at $55,000 after purchasing an additional 68 shares during the period. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Royal Caribbean Cruises

In related news, CFO Naftali Holtz sold 17,000 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the completion of the sale, the chief financial officer now owns 42,127 shares in the company, valued at approximately $11,021,265.74. This trade represents a 28.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason T. Liberty sold 58,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the completion of the transaction, the chief executive officer now directly owns 143,214 shares of the company’s stock, valued at $37,514,907.30. The trade was a 28.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,992 shares of company stock valued at $23,566,445 over the last three months. 7.95% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RCL. Macquarie lowered their price objective on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. BNP Paribas assumed 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 for the company. Argus lifted their price objective on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Melius Research upgraded Royal Caribbean Cruises to a “strong-buy” rating in a research report on Monday, April 21st. Finally, Northcoast Research initiated coverage on Royal Caribbean Cruises in a report on Friday, April 25th. They issued a “buy” rating and a $279.00 price target for the company. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $271.30.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock opened at $255.62 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. The firm’s 50-day simple moving average is $212.05 and its 200 day simple moving average is $229.90. Royal Caribbean Cruises Ltd. has a 52 week low of $130.08 and a 52 week high of $277.08. The firm has a market capitalization of $69.42 billion, a PE ratio of 23.91, a P/E/G ratio of 0.90 and a beta of 2.12.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the business earned $1.77 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Royal Caribbean Cruises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.17%. Royal Caribbean Cruises’s payout ratio is 24.92%.

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.