NEOS Investment Management LLC Has $2.58 Million Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

NEOS Investment Management LLC lifted its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 28.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,183 shares of the company’s stock after purchasing an additional 2,483 shares during the quarter. NEOS Investment Management LLC’s holdings in Royal Caribbean Cruises were worth $2,580,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RCL. Elo Mutual Pension Insurance Co boosted its stake in shares of Royal Caribbean Cruises by 9.5% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 23,627 shares of the company’s stock worth $5,451,000 after buying an additional 2,045 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Royal Caribbean Cruises by 8.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 387,437 shares of the company’s stock valued at $88,700,000 after purchasing an additional 31,814 shares during the last quarter. Graney & King LLC bought a new position in Royal Caribbean Cruises in the fourth quarter valued at approximately $69,000. Ausdal Financial Partners Inc. grew its stake in Royal Caribbean Cruises by 3.1% in the fourth quarter. Ausdal Financial Partners Inc. now owns 1,900 shares of the company’s stock valued at $438,000 after purchasing an additional 58 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Royal Caribbean Cruises by 1.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 121,639 shares of the company’s stock worth $28,061,000 after purchasing an additional 2,240 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Loop Capital raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a report on Wednesday, March 5th. Morgan Stanley lifted their price objective on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Argus upped their target price 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. Truist Financial lifted their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. upped their price objective 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. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and an average target price of $282.33.

Insider Buying and Selling

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the sale, the director now owns 185,021 shares of the company’s stock, valued at approximately $47,491,190.28. This trade represents a 9.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the business’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 transaction, the chief executive officer now directly owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,492 shares of company stock worth $28,571,705. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Trading Down 4.6 %

Shares of NYSE:RCL opened at $207.35 on Friday. The company has a market capitalization of $55.80 billion, a P/E ratio of 19.40, 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 current ratio of 0.17 and a quick ratio of 0.15. The business’s 50 day simple moving average is $238.63 and its 200 day simple moving average is $223.27. Royal Caribbean Cruises Ltd. has a 1 year low of $125.06 and a 1 year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same quarter last year, the company posted $1.25 EPS. On average, research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal 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 issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, March 7th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

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

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.