Harvest Fund Management Co. Ltd Has $1.40 Million Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Harvest Fund Management Co. Ltd boosted its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 196.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,042 shares of the company’s stock after purchasing an additional 4,006 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Royal Caribbean Cruises were worth $1,395,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC boosted its position in Royal Caribbean Cruises by 2.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company’s stock valued at $470,000 after purchasing an additional 39 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Royal Caribbean Cruises by 1.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company’s stock valued at $630,000 after purchasing an additional 42 shares during the last quarter. Hemington Wealth Management boosted its position in Royal Caribbean Cruises by 9.0% during the fourth quarter. Hemington Wealth Management now owns 533 shares of the company’s stock valued at $123,000 after purchasing an additional 44 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Royal Caribbean Cruises by 3.6% during the fourth quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company’s stock valued at $313,000 after buying an additional 47 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its holdings in Royal Caribbean Cruises by 2.2% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock valued at $544,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RCL. Mizuho restated an “outperform” rating and set a $253.00 target price (down from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Tigress Financial raised their target price on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company raised their target price on Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Finally, Morgan Stanley lifted their price objective on Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.53.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of the company’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 completion of the sale, the chief executive officer now owns 143,214 shares in the company, valued at approximately $37,514,907.30. The trade was a 28.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Laura H. Bethge sold 14,992 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the sale, the insider now owns 21,155 shares of the company’s stock, valued at $5,539,648.30. The trade was a 41.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,492 shares of company stock worth $28,571,705 in the last quarter. Insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Stock Performance

RCL stock opened at $215.26 on Thursday. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The company has a 50 day moving average price of $240.46 and a 200 day moving average price of $220.86. Royal Caribbean Cruises Ltd. has a fifty-two week low of $125.06 and a fifty-two week high of $277.08. The stock has a market capitalization of $57.93 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL) last posted 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 period in the previous year, the firm posted $1.25 earnings per share. Analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed 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 represents a $3.00 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, March 7th. 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 announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.