Corient Private Wealth LLC Sells 31,822 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Corient Private Wealth LLC reduced its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 40.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,691 shares of the company’s stock after selling 31,822 shares during the quarter. Corient Private Wealth LLC’s holdings in Royal Caribbean Cruises were worth $11,002,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RCL. Venturi Wealth Management LLC raised its stake in Royal Caribbean Cruises by 511.0% in the fourth quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company’s stock valued at $498,000 after purchasing an additional 1,804 shares in the last quarter. Park Avenue Securities LLC raised its stake in Royal Caribbean Cruises by 20.1% in the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock valued at $1,530,000 after purchasing an additional 1,111 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Royal Caribbean Cruises by 76.1% in the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock valued at $5,142,000 after purchasing an additional 12,530 shares in the last quarter. Lorne Steinberg Wealth Management Inc. purchased a new stake in Royal Caribbean Cruises in the fourth quarter valued at approximately $231,000. Finally, Principal Financial Group Inc. raised its stake in Royal Caribbean Cruises by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 291,027 shares of the company’s stock valued at $67,137,000 after purchasing an additional 7,740 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,500 shares of the business’s stock in a transaction on 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 sale, the director now 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 sale was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $261.95, for a total transaction 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 trade represents a 28.83 % 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 worth $28,571,705 over the last quarter. Corporate insiders own 7.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RCL. Sanford C. Bernstein began coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Loop Capital raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lifted their price target on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Tigress Financial lifted their price target on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Three equities research 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $283.53.

Royal Caribbean Cruises Stock Up 5.8 %

Shares of Royal Caribbean Cruises stock opened at $215.26 on Thursday. The stock has a market capitalization of $57.93 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 0.90 and a beta of 2.53. The company’s 50 day moving average price is $240.46 and its 200-day moving average price is $220.86. Royal Caribbean Cruises Ltd. has a 52-week low of $125.06 and a 52-week high of $277.08. 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 (NYSE:RCL) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share 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 period in the previous year, the company earned $1.25 EPS. Equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

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

Royal Caribbean Cruises Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 annualized dividend and a yield of 1.39%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s payout ratio is 28.06%.

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.