Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Noesis Capital Mangement Corp

Noesis Capital Mangement Corp cut its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,462 shares of the company’s stock after selling 1,937 shares during the period. Royal Caribbean Cruises makes up 3.5% of Noesis Capital Mangement Corp’s holdings, making the stock its 7th biggest holding. Noesis Capital Mangement Corp’s holdings in Royal Caribbean Cruises were worth $18,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. National Pension Service grew 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. Proficio Capital Partners LLC acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $69,556,000. AustralianSuper Pty Ltd grew its holdings in shares of Royal Caribbean Cruises by 2,042.8% in the fourth quarter. AustralianSuper Pty Ltd now owns 122,887 shares of the company’s stock valued at $28,349,000 after purchasing an additional 117,152 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Royal Caribbean Cruises by 138.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company’s stock valued at $28,703,000 after purchasing an additional 93,899 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Royal Caribbean Cruises in the third quarter valued at approximately $14,544,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Up 3.3 %

Shares of NYSE:RCL opened at $246.04 on Friday. The company has a market capitalization of $66.22 billion, a PE ratio of 23.02, a P/E/G ratio of 0.90 and a beta of 2.59. 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 Ltd. has a twelve month low of $121.58 and a twelve month high of $277.08. The firm has a 50 day simple moving average of $244.74 and a 200-day simple moving average of $215.48.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping 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 firm posted $1.25 earnings per share. On average, equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

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 given a $0.75 dividend. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. This represents a $3.00 annualized dividend and a yield of 1.22%. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RCL. Macquarie lifted their price objective on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. UBS Group lifted their price objective on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company lifted their price objective on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Bank of America lifted their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Loop Capital began coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, February 4th. They issued a “hold” rating and a $250.00 price target for the company. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $284.12.

Insider Activity at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 185,021 shares in the company, valued at $47,491,190.28. This represents a 9.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Naftali Holtz sold 17,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total transaction 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 trade represents a 28.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,492 shares of company stock worth $28,571,705 in the last 90 days. 7.95% of the stock is owned by insiders.

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.