Plato Investment Management Ltd Acquires 2,023 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Plato Investment Management Ltd raised its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1,376.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,170 shares of the company’s stock after buying an additional 2,023 shares during the quarter. Plato Investment Management Ltd’s holdings in Royal Caribbean Cruises were worth $502,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Venturi Wealth Management LLC lifted its position in Royal Caribbean Cruises by 511.0% during the fourth quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company’s stock valued at $498,000 after purchasing an additional 1,804 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Royal Caribbean Cruises by 20.1% in the 4th quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock worth $1,530,000 after acquiring an additional 1,111 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Royal Caribbean Cruises by 76.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock worth $5,142,000 after acquiring an additional 12,530 shares during the last quarter. Lorne Steinberg Wealth Management Inc. bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth about $231,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Royal Caribbean Cruises by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 291,027 shares of the company’s stock worth $67,137,000 after acquiring an additional 7,740 shares during the last quarter. Institutional investors own 87.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RCL shares. Bank of America raised their target price on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. The Goldman Sachs Group lowered their target price on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, January 24th. Susquehanna raised their target price on shares of Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Mizuho restated an “outperform” rating and issued a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average target price of $284.12.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction that occurred 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 transaction, the director now owns 185,021 shares of the company’s stock, valued at $47,491,190.28. The trade was a 9.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 143,214 shares in the company, valued at approximately $37,514,907.30. The trade was a 28.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,492 shares of company stock valued at $28,571,705 in the last 90 days. Insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Trading Down 6.0 %

NYSE RCL opened at $226.67 on Wednesday. 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 $61.00 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 0.90 and a beta of 2.59. The company’s 50-day simple moving average is $244.53 and its two-hundred day simple moving average is $217.40. Royal Caribbean Cruises Ltd. has a one year low of $124.24 and a one year high of $277.08.

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 quarter in the prior year, the business posted $1.25 EPS. Equities 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 disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be given a $0.75 dividend. 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 1.32%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s payout ratio is presently 28.06%.

Royal Caribbean Cruises announced that its board has authorized a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 1.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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.