Primecap Management Co. CA Has $984.74 Million Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Primecap Management Co. CA cut its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,268,658 shares of the company’s stock after selling 512,485 shares during the period. Primecap Management Co. CA owned 1.59% of Royal Caribbean Cruises worth $984,737,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Safe Harbor Fiduciary LLC acquired a new position in Royal Caribbean Cruises during the 3rd quarter valued at about $27,000. LRI Investments LLC acquired a new position in Royal Caribbean Cruises during the 3rd quarter valued at about $31,000. Bay Harbor Wealth Management LLC acquired a new position in Royal Caribbean Cruises during the 4th quarter valued at about $36,000. Truvestments Capital LLC acquired a new position in Royal Caribbean Cruises during the 4th quarter valued at about $36,000. Finally, ORG Wealth Partners LLC acquired a new position in Royal Caribbean Cruises during the 4th quarter valued at about $40,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Trading Up 3.6 %

Shares of RCL stock opened at $219.71 on Tuesday. The company’s fifty day simple moving average is $241.13 and its two-hundred day simple moving average is $220.62. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. Royal Caribbean Cruises Ltd. has a 1 year low of $125.06 and a 1 year high of $277.08. The stock has a market capitalization of $59.13 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results 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 posted $1.25 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be given a dividend of $0.75 per share. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises’s payout ratio is 28.06%.

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

Wall Street Analysts Forecast Growth

RCL has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Stifel Nicolaus lifted their target price on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Loop Capital raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Wednesday, March 5th. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, UBS Group lifted their target price on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $283.53.

Insider Buying and Selling

In related news, CFO Naftali Holtz sold 17,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total value of $4,447,540.00. Following the completion of the transaction, the chief financial officer now directly owns 42,127 shares in the company, valued at approximately $11,021,265.74. The trade was a 28.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the completion of the transaction, the director now owns 185,021 shares of the company’s stock, valued at $47,491,190.28. This trade represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,492 shares of company stock worth $28,571,705. Corporate 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.