Evoke Wealth LLC Acquires New Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Evoke Wealth LLC acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 1,137 shares of the company’s stock, valued at approximately $263,000.

Other institutional investors and hedge funds have also modified their holdings of the company. D1 Capital Partners L.P. boosted its position in Royal Caribbean Cruises by 3.8% during the 3rd quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company’s stock worth $278,502,000 after acquiring an additional 58,159 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Royal Caribbean Cruises by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,519,000 shares of the company’s stock worth $350,418,000 after acquiring an additional 48,480 shares during the last quarter. National Pension Service boosted its position in Royal Caribbean Cruises by 138.9% during the 4th quarter. National Pension Service now owns 864,049 shares of the company’s stock worth $199,327,000 after acquiring an additional 502,349 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in Royal Caribbean Cruises by 2.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company’s stock worth $104,918,000 after acquiring an additional 13,520 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Royal Caribbean Cruises by 3.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 569,890 shares of the company’s stock worth $131,468,000 after acquiring an additional 18,868 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total value of $3,925,805.12. Following the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 109,492 shares of company stock valued at $28,571,705 over the last quarter. 7.95% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Stock Up 5.8 %

RCL opened at $215.26 on Thursday. Royal Caribbean Cruises Ltd. has a fifty-two week low of $125.06 and a fifty-two week high of $277.08. 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 $57.93 billion, a P/E ratio of 20.14, a P/E/G ratio of 0.90 and a beta of 2.53. The stock has a fifty day moving average of $240.46 and a 200-day moving average of $220.86.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly 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 period in the prior year, the firm earned $1.25 earnings per share. On average, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises declared that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually 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 paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s payout ratio is 28.06%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RCL. Tigress Financial upped their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. upped their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Loop Capital raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a report on Wednesday, March 5th. Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price objective for the company. Finally, UBS Group increased their price objective on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises has a consensus 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.