New Mexico Educational Retirement Board Sells 300 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

New Mexico Educational Retirement Board decreased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.6% during the 4th quarter, HoldingsChannel reports. The fund owned 11,250 shares of the company’s stock after selling 300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Royal Caribbean Cruises were worth $2,595,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. D1 Capital Partners L.P. lifted its stake in Royal Caribbean Cruises by 3.8% in the 3rd quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company’s stock valued at $278,502,000 after acquiring an additional 58,159 shares in the last quarter. Swiss National Bank lifted its stake in Royal Caribbean Cruises by 0.5% in the 3rd quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after acquiring an additional 3,800 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in Royal Caribbean Cruises by 2.3% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company’s stock valued at $104,918,000 after acquiring an additional 13,520 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Royal Caribbean Cruises by 3.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 569,890 shares of the company’s stock valued at $131,468,000 after acquiring an additional 18,868 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Royal Caribbean Cruises by 10,599.0% in the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock valued at $72,696,000 after acquiring an additional 406,048 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

Insider Buying and Selling 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 stock was sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value of $53,732,600.00. Following the transaction, the director now directly owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 392,109 shares of company stock valued at $92,652,468 in the last three months. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Stock Performance

RCL opened at $262.99 on Friday. The business has a fifty day simple moving average of $243.57 and a 200 day simple moving average of $208.77. The company has a market capitalization of $70.71 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 1.00 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a 1 year low of $113.10 and a 1 year high of $277.08. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data 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 return on equity of 48.97% and a net margin of 17.46%. During the same period in the previous year, the firm posted $1.25 earnings per share. Research analysts expect that Royal Caribbean Cruises Ltd. will post 14.96 EPS for the current year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a share repurchase program 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 programs are generally an indication that the company’s leadership believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be issued a $0.75 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a yield of 1.14%. Royal Caribbean Cruises’s payout ratio is currently 20.58%.

Analyst Upgrades and Downgrades

RCL has been the topic of several research reports. Loop Capital started coverage on Royal Caribbean Cruises in a research note on Tuesday, February 4th. They issued a “hold” rating and a $250.00 target price on the stock. The Goldman Sachs Group decreased their target price on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, January 24th. 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 for the company. Tigress Financial raised 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. Finally, Morgan Stanley raised their target price on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.