Insider Selling: Royal Caribbean Cruises Ltd. (NYSE:RCL) CFO Sells 17,000 Shares of Stock

Royal Caribbean Cruises Ltd. (NYSE:RCL) CFO Naftali Holtz sold 17,000 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total value of $4,447,540.00. Following the completion of the transaction, the chief financial officer now owns 42,127 shares of the company’s stock, valued at approximately $11,021,265.74. This represents a 28.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Royal Caribbean Cruises Trading Down 7.5 %

NYSE:RCL opened at $244.20 on Friday. The stock has a market capitalization of $65.72 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 0.98 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a 52 week low of $113.56 and a 52 week high of $277.08. 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 firm has a 50 day moving average of $244.57 and a 200 day moving average of $211.77.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 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 anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be issued 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 1.23%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

Royal Caribbean Cruises announced that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Royal Caribbean Cruises

Several large investors have recently bought and sold shares of the stock. Formidable Asset Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $254,000. Fourth Dimension Wealth LLC purchased a new position in Royal Caribbean Cruises in the 4th quarter worth $35,000. Vise Technologies Inc. lifted its position in Royal Caribbean Cruises by 121.6% during the 4th quarter. Vise Technologies Inc. now owns 6,036 shares of the company’s stock worth $1,392,000 after acquiring an additional 3,312 shares during the period. Gordian Capital Singapore Pte Ltd grew its stake in Royal Caribbean Cruises by 95.8% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 9,912 shares of the company’s stock valued at $2,289,000 after purchasing an additional 4,850 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC increased its holdings in shares of Royal Caribbean Cruises by 173.9% in the fourth quarter. Pinkerton Retirement Specialists LLC now owns 5,024 shares of the company’s stock valued at $1,159,000 after purchasing an additional 3,190 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Loop Capital started coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, February 4th. They set a “hold” rating and a $250.00 price objective for the company. Susquehanna boosted their price objective on shares of Royal Caribbean Cruises from $245.00 to $305.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Mizuho restated an “outperform” rating and issued a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Finally, Argus upped their price target on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company 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.