Plato Investment Management Ltd Boosts Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Plato Investment Management Ltd lifted its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1,376.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,170 shares of the company’s stock after purchasing an additional 2,023 shares during the quarter. Plato Investment Management Ltd’s holdings in Royal Caribbean Cruises were worth $502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $598,000. Jones Financial Companies Lllp raised its stake in shares of Royal Caribbean Cruises by 61.7% in the fourth quarter. Jones Financial Companies Lllp now owns 15,786 shares of the company’s stock worth $3,642,000 after purchasing an additional 6,026 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Royal Caribbean Cruises by 103.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 503 shares of the company’s stock worth $116,000 after purchasing an additional 256 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Royal Caribbean Cruises by 26.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,112 shares of the company’s stock worth $492,000 after purchasing an additional 440 shares during the last quarter. Finally, Maia Wealth LLC raised its stake in shares of Royal Caribbean Cruises by 2,669.2% in the fourth quarter. Maia Wealth LLC now owns 1,080 shares of the company’s stock worth $255,000 after purchasing an additional 1,041 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Activity at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of the firm’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 transaction, the chief executive officer now directly owns 143,214 shares of the company’s stock, valued at approximately $37,514,907.30. This trade represents a 28.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Naftali Holtz sold 17,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $11,021,265.74. The trade was a 28.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,492 shares of company stock valued at $28,571,705. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $226.67 on Wednesday. The stock has a 50-day moving average price of $244.53 and a 200 day moving average price of $217.40. The stock has a market capitalization of $61.00 billion, a P/E ratio of 21.20, a P/E/G ratio of 0.90 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a 12-month low of $124.24 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 quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (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 quarter last year, the company posted $1.25 earnings per share. Equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its board has approved a stock buyback 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 usually a sign that the company’s leadership believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.32%. This is a boost 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 presently 28.06%.

Analysts Set New Price Targets

Several brokerages recently commented on RCL. Bank of America lifted their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. 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 report on Monday, February 3rd. Stifel Nicolaus lifted their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays lifted their price objective on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Tigress Financial lifted their price objective on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.12.

Royal Caribbean Cruises 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.