Swiss National Bank Has $159.37 Million Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Swiss National Bank lessened its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 690,838 shares of the company’s stock after selling 34,800 shares during the period. Swiss National Bank’s holdings in Royal Caribbean Cruises were worth $159,369,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings in shares of Royal Caribbean Cruises by 511.0% during the fourth quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company’s stock worth $498,000 after purchasing an additional 1,804 shares during the period. Park Avenue Securities LLC boosted its stake in shares of 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 buying an additional 1,111 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Royal Caribbean Cruises by 76.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock valued at $5,142,000 after acquiring an additional 12,530 shares in the last quarter. Lorne Steinberg Wealth Management Inc. purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at $231,000. Finally, Principal Financial Group Inc. grew its holdings in shares of 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 acquiring an additional 7,740 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Up 0.3 %

Shares of RCL opened at $208.01 on Friday. The company has a 50-day simple moving average of $241.64 and a 200-day simple moving average of $219.18. The firm has a market capitalization of $55.98 billion, a P/E ratio of 19.46, a P/E/G ratio of 0.90 and a beta of 2.53. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. Royal Caribbean Cruises Ltd. has a 52 week low of $125.06 and a 52 week high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 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 last year, the company earned $1.25 earnings per share. On average, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s payout ratio is presently 28.06%.

Royal Caribbean Cruises announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

RCL has been the topic of several research analyst reports. Stifel Nicolaus boosted their price target on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company upped their price objective on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Truist Financial upped their price objective on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Tigress Financial upped their price objective on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Loop Capital raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $283.53.

Insider Activity at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 14,992 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total value of $3,925,805.12. Following the sale, the insider now owns 21,155 shares of the company’s stock, valued at $5,539,648.30. The trade was a 41.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the completion of the sale, the director now directly owns 185,021 shares in the company, valued at approximately $47,491,190.28. The trade was a 9.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,492 shares of company stock valued at $28,571,705 over the last quarter. 7.95% of the stock is owned by company insiders.

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.