Venturi Wealth Management LLC Buys 1,804 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Venturi Wealth Management LLC raised its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 511.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,157 shares of the company’s stock after acquiring an additional 1,804 shares during the quarter. Venturi Wealth Management LLC’s holdings in Royal Caribbean Cruises were worth $498,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RCL. Plato Investment Management Ltd bought a new stake in shares of Royal Caribbean Cruises during the third quarter worth $26,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Royal Caribbean Cruises during the third quarter worth $27,000. Bay Harbor Wealth Management LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $36,000. ORG Wealth Partners LLC acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at $40,000. Finally, LRI Investments LLC acquired a new position in shares of Royal Caribbean Cruises during the third quarter valued at $31,000. 87.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 185,021 shares of the company’s stock, valued at $47,491,190.28. This trade represents a 9.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 7.95% of the company’s stock.

Analyst Ratings Changes

RCL has been the topic of several research reports. Wells Fargo & Company upped their price target on Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Stifel Nicolaus increased their target price on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Truist Financial increased their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. increased their target price on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group cut their target price on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $284.12.

Royal Caribbean Cruises Stock Up 0.8 %

RCL stock opened at $263.97 on Thursday. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The business has a 50 day moving average price of $244.57 and a two-hundred day moving average price of $211.54. The company has a market cap of $70.98 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 0.98 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a twelve month low of $113.10 and a twelve month high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share 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 period in the prior year, the business earned $1.25 earnings per share. Analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

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

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.