First National Advisers LLC Trims Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

First National Advisers LLC lowered its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 22.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,517 shares of the company’s stock after selling 3,556 shares during the quarter. First National Advisers LLC’s holdings in Royal Caribbean Cruises were worth $2,887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RCL. Plato Investment Management Ltd purchased a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $26,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $27,000. LRI Investments LLC purchased a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $31,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at about $36,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Up 2.1 %

NYSE RCL opened at $212.33 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The company has a market capitalization of $57.14 billion, a P/E ratio of 19.86, a P/E/G ratio of 0.90 and a beta of 2.53. Royal Caribbean Cruises Ltd. has a one year low of $125.06 and a one year high of $277.08. The stock has a 50 day moving average price of $241.31 and a 200-day moving average price of $219.88.

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. As a group, equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its board has authorized a share repurchase program on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase programs are typically 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. Investors of record on Friday, March 7th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is presently 28.06%.

Insider Activity at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the sale, the chief executive officer now owns 143,214 shares in the company, valued at approximately $37,514,907.30. This represents a 28.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 19,500 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the sale, the director now owns 185,021 shares in the company, valued at $47,491,190.28. The trade was a 9.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,492 shares of company stock worth $28,571,705. Company insiders own 7.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Morgan Stanley increased their target price on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Loop Capital raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a report on Wednesday, March 5th. Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 target price for the company. Finally, Citigroup increased their target price on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average price target of $283.53.

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.