1,000 Shares in Royal Caribbean Cruises Ltd. (NYSE:RCL) Acquired by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. purchased a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,000 shares of the company’s stock, valued at approximately $231,000.

Several other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in Royal Caribbean Cruises by 10,599.0% during the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after buying an additional 406,048 shares during the last quarter. AustralianSuper Pty Ltd boosted its stake in Royal Caribbean Cruises by 2,042.8% during the fourth quarter. AustralianSuper Pty Ltd now owns 122,887 shares of the company’s stock worth $28,349,000 after buying an additional 117,152 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Royal Caribbean Cruises by 138.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company’s stock worth $28,703,000 after buying an additional 93,899 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Royal Caribbean Cruises during the third quarter worth $14,544,000. Finally, Dakota Wealth Management boosted its stake in Royal Caribbean Cruises by 3,935.2% during the third quarter. Dakota Wealth Management now owns 76,871 shares of the company’s stock worth $13,635,000 after buying an additional 74,966 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Richard D. Fain sold 19,500 shares of the stock in a transaction dated 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 transaction, the director now owns 185,021 shares in the company, valued at approximately $47,491,190.28. This represents a 9.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $237.89, for a total value of $33,150,685.17. Following the completion of the transaction, the director now owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. 7.95% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RCL. Argus boosted their price objective on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Truist Financial boosted their price objective on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Macquarie upped their price target on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Barclays upped their price target on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $284.12.

Royal Caribbean Cruises Price Performance

RCL opened at $261.62 on Wednesday. The stock’s 50-day moving average price is $244.20 and its 200 day moving average price is $211.17. Royal Caribbean Cruises Ltd. has a 12-month low of $113.10 and a 12-month high of $277.08. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The firm has a market cap of $70.35 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 0.98 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted 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 business posted $1.25 EPS. As a group, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises declared that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The company 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 dividend of $0.75 per share. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. This represents a $3.00 annualized dividend and a yield of 1.15%. Royal Caribbean Cruises’s dividend payout ratio is presently 20.58%.

Royal Caribbean Cruises Company 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.