New York Life Investment Management LLC Boosts Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

New York Life Investment Management LLC boosted its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 4.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 36,397 shares of the company’s stock after purchasing an additional 1,690 shares during the period. New York Life Investment Management LLC’s holdings in Royal Caribbean Cruises were worth $8,396,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its stake in shares of Royal Caribbean Cruises by 4.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,220 shares of the company’s stock valued at $4,895,000 after buying an additional 877 shares in the last quarter. National Pension Service boosted its holdings in Royal Caribbean Cruises by 138.9% during the 4th quarter. National Pension Service now owns 864,049 shares of the company’s stock valued at $199,327,000 after acquiring an additional 502,349 shares during the period. Advisor OS LLC grew its position in Royal Caribbean Cruises by 7.2% in the 4th quarter. Advisor OS LLC now owns 1,235 shares of the company’s stock valued at $285,000 after acquiring an additional 83 shares in the last quarter. Todd Asset Management LLC lifted its position in shares of Royal Caribbean Cruises by 0.4% during the fourth quarter. Todd Asset Management LLC now owns 134,777 shares of the company’s stock worth $31,092,000 after purchasing an additional 597 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Royal Caribbean Cruises by 0.7% in the fourth quarter. Amalgamated Bank now owns 48,030 shares of the company’s stock valued at $11,080,000 after purchasing an additional 329 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock opened at $238.01 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a 52 week low of $121.18 and a 52 week high of $277.08. The firm’s 50 day moving average is $244.59 and its two-hundred day moving average is $214.84. The firm has a market capitalization of $64.06 billion, a P/E ratio of 22.26, a P/E/G ratio of 0.90 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates 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 prior year, the business posted $1.25 EPS. Research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.26%. 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 declared that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RCL shares. The Goldman Sachs Group reduced their target price on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Bank of America increased their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Citigroup boosted their target price on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.12.

Insider Activity

In other news, CFO Naftali Holtz sold 17,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 42,127 shares in the company, valued at approximately $11,021,265.74. This trade represents a 28.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises 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 completion of the transaction, the insider now directly owns 21,155 shares in the company, valued at $5,539,648.30. The trade was a 41.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 109,492 shares of company stock valued at $28,571,705. Insiders own 7.95% of the company’s stock.

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.