IPG Investment Advisors LLC Sells 456 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

IPG Investment Advisors LLC lessened its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 25.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,330 shares of the company’s stock after selling 456 shares during the period. IPG Investment Advisors LLC’s holdings in Royal Caribbean Cruises were worth $308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of RCL. Bridgewater Associates LP bought a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $4,779,000. Glenmede Trust Co. NA boosted its holdings in shares of Royal Caribbean Cruises by 1.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 6,080 shares of the company’s stock worth $1,078,000 after buying an additional 110 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Royal Caribbean Cruises by 0.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,762 shares of the company’s stock worth $18,049,000 after buying an additional 791 shares during the period. Public Sector Pension Investment Board increased its stake in shares of Royal Caribbean Cruises by 14.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 9,327 shares of the company’s stock valued at $1,654,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of Royal Caribbean Cruises by 15.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 854 shares of the company’s stock valued at $151,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 87.53% of the company’s stock.

Analyst Upgrades and Downgrades

RCL has been the subject of a number of research reports. Susquehanna restated a “positive” rating on shares of Royal Caribbean Cruises in a report on Tuesday. UBS Group boosted their target price on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Macquarie increased their price target on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Loop Capital raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Wednesday, March 5th. Finally, Mizuho reissued an “outperform” rating and issued a $253.00 price target (down previously from $255.00) on shares of Royal Caribbean Cruises in a research report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average target price of $282.33.

Insider Buying and Selling

In other news, Director Richard D. Fain sold 19,500 shares of the company’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 transaction, the director now owns 185,021 shares of the company’s stock, valued at $47,491,190.28. This represents a 9.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, 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. In the last quarter, insiders have sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is owned by company insiders.

Royal Caribbean Cruises Stock Performance

Shares of RCL opened at $207.35 on Friday. The stock has a 50 day moving average of $238.63 and a 200 day moving average of $223.72. The company has a market capitalization of $55.80 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 0.90 and a beta of 2.53. Royal Caribbean Cruises Ltd. has a 12 month low of $125.06 and a 12 month 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 announced its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) 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 quarter last year, the firm posted $1.25 earnings per share. As a group, sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 28.06%.

Royal Caribbean Cruises announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is 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.