Thomas J. Herzfeld Advisors Inc. Has $4.08 Million Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Thomas J. Herzfeld Advisors Inc. decreased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 27.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,666 shares of the company’s stock after selling 6,682 shares during the period. Royal Caribbean Cruises makes up about 1.3% of Thomas J. Herzfeld Advisors Inc.’s portfolio, making the stock its 24th largest position. Thomas J. Herzfeld Advisors Inc.’s holdings in Royal Caribbean Cruises were worth $4,075,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth about $707,833,000. Vanguard Group Inc. raised its stake in shares of Royal Caribbean Cruises by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company’s stock worth $6,476,003,000 after purchasing an additional 2,068,114 shares during the last quarter. National Pension Service lifted its holdings in shares of Royal Caribbean Cruises by 138.9% in the fourth quarter. National Pension Service now owns 864,049 shares of the company’s stock valued at $199,327,000 after purchasing an additional 502,349 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Royal Caribbean Cruises by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company’s stock valued at $1,373,856,000 after buying an additional 353,893 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $69,556,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Analysts Set New Price Targets

RCL has been the subject of a number of analyst reports. Jefferies Financial Group started coverage on Royal Caribbean Cruises in a research report on Monday. They issued a “hold” rating and a $230.00 price target for the company. Barclays increased their target price on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Loop Capital upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research note on Wednesday, March 5th. Finally, Mizuho restated 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. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $279.58.

Insiders Place Their Bets

In related news, insider Laura H. Bethge sold 14,992 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total value of $3,925,805.12. Following the sale, the insider now owns 21,155 shares in the company, valued at approximately $5,539,648.30. This trade represents a 41.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard D. Fain sold 19,500 shares of the business’s 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 of the company’s stock, valued at approximately $47,491,190.28. The trade was a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock worth $28,571,705 in the last three months. 7.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Stock Down 1.0 %

Royal Caribbean Cruises stock opened at $205.60 on Tuesday. The firm has a market capitalization of $55.33 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 0.90 and a beta of 2.53. The firm has a 50 day simple moving average of $237.90 and a 200 day simple moving average of $224.44. Royal Caribbean Cruises Ltd. has a 1-year low of $125.06 and a 1-year 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.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. On average, analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, March 7th. This represents a $3.00 annualized dividend and a yield of 1.46%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s payout ratio is currently 28.06%.

Royal Caribbean Cruises declared that its board has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase programs are generally 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.