Harbour Investments Inc. Sells 150 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Harbour Investments Inc. decreased its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 14.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 860 shares of the company’s stock after selling 150 shares during the quarter. Harbour Investments Inc.’s holdings in Royal Caribbean Cruises were worth $198,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Safe Harbor Fiduciary LLC bought a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth about $27,000. LRI Investments LLC bought a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth about $31,000. Bay Harbor Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter worth about $36,000. Truvestments Capital LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter valued at about $36,000. Finally, ORG Wealth Partners LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter valued at about $40,000. Institutional investors own 87.53% of the company’s stock.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CFO Naftali Holtz sold 17,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 42,127 shares of the company’s stock, valued at approximately $11,021,265.74. This represents a 28.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 143,214 shares of the company’s stock, valued at $37,514,907.30. The trade was a 28.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock worth $28,571,705 over the last ninety days. Company insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of RCL stock opened at $215.76 on Friday. Royal Caribbean Cruises Ltd. has a 1 year low of $125.06 and a 1 year high of $277.08. The firm’s 50 day moving average is $240.00 and its 200-day moving average is $221.60. The firm has a market capitalization of $58.07 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 0.90 and a beta of 2.53. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping 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 business earned $1.25 EPS. Sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors 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 reacquire up to 1.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on RCL shares. Sanford C. Bernstein started 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. Mizuho reissued an “outperform” rating and issued a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. The Goldman Sachs Group lowered their target price on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Citigroup upped their target price on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus upped their target price on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $283.53.

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.