Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,406 shares of the company’s stock after buying an additional 2,644 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Royal Caribbean Cruises were worth $24,085,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Plato Investment Management Ltd bought a new position in Royal Caribbean Cruises in the third quarter worth approximately $26,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Royal Caribbean Cruises in the 3rd quarter worth $27,000. LRI Investments LLC bought a new position in Royal Caribbean Cruises in the 3rd quarter worth $31,000. Bay Harbor Wealth Management LLC purchased a new position in Royal Caribbean Cruises during the fourth quarter valued at $36,000. Finally, ORG Wealth Partners LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter valued at about $40,000. 87.53% of the stock is currently owned by institutional investors.

Insider Activity

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of the business’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 transaction of $5,005,260.00. Following the sale, the director now directly owns 185,021 shares of the company’s stock, valued at $47,491,190.28. The trade was a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jason T. Liberty sold 58,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total value of $15,193,100.00. Following the completion of the sale, the chief executive officer now directly owns 143,214 shares of the company’s stock, valued at $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Truist Financial lifted their price objective on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. UBS Group raised their price objective on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Argus upped their target price on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company increased their price target on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $283.53.

Royal Caribbean Cruises Price Performance

Shares of Royal Caribbean Cruises stock opened at $207.07 on Wednesday. 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 Ltd. has a 12 month low of $125.06 and a 12 month high of $277.08. The stock has a 50 day moving average of $242.53 and a 200 day moving average of $219.34. The firm has a market cap of $55.73 billion, a PE ratio of 19.37, a PEG ratio of 0.90 and a beta of 2.53.

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 return on equity of 48.97% and a net margin of 17.46%. During the same quarter in the prior year, the company posted $1.25 earnings per share. On average, research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its board has authorized a share buyback plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy 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 stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be issued a $0.75 dividend. The ex-dividend date is Friday, March 7th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. Royal Caribbean Cruises’s payout ratio is 28.06%.

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.