Oppenheimer Asset Management Inc. Reduces Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Oppenheimer Asset Management Inc. trimmed its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,666 shares of the company’s stock after selling 76 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Royal Caribbean Cruises were worth $846,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Plato Investment Management Ltd purchased a new position in Royal Caribbean Cruises during the third quarter worth $26,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Royal Caribbean Cruises during the third quarter valued at $27,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at $36,000. ORG Wealth Partners LLC purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at $40,000. Finally, LRI Investments LLC purchased a new stake in shares of Royal Caribbean Cruises during the third quarter valued at $31,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 143,214 shares in the company, valued at approximately $37,514,907.30. This represents a 28.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard D. Fain sold 19,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were 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 $47,491,190.28. This trade represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is owned by company insiders.

Royal Caribbean Cruises Stock Performance

RCL opened at $226.67 on Wednesday. Royal Caribbean Cruises Ltd. has a 52-week low of $124.24 and a 52-week high of $277.08. 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 company has a market cap of $61.00 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 0.90 and a beta of 2.59. The firm’s 50-day moving average price is $244.53 and its 200-day moving average price is $217.40.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the prior year, the company earned $1.25 EPS. As a group, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its board has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.32%. 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%.

Analyst Ratings Changes

A number of analysts have recently issued reports on RCL shares. Tigress Financial boosted their target price on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Argus boosted their target price on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Loop Capital started coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, February 4th. They set a “hold” rating and a $250.00 target price for the company. Sanford C. Bernstein started coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, November 26th. They set an “outperform” rating and a $290.00 target price for the company. Finally, Truist Financial boosted their target price on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus target price of $284.12.

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.