Arizona State Retirement System Has $16.39 Million Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Arizona State Retirement System grew its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,029 shares of the company’s stock after purchasing an additional 985 shares during the period. Arizona State Retirement System’s holdings in Royal Caribbean Cruises were worth $16,386,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RCL. 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 buying an additional 502,349 shares during the period. Proficio Capital Partners LLC acquired a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $69,556,000. AustralianSuper Pty Ltd boosted its position in Royal Caribbean Cruises by 2,042.8% during the 4th quarter. AustralianSuper Pty Ltd now owns 122,887 shares of the company’s stock worth $28,349,000 after buying an additional 117,152 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Royal Caribbean Cruises by 138.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company’s stock worth $28,703,000 after buying an additional 93,899 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Royal Caribbean Cruises during the 3rd quarter worth approximately $14,544,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the completion of the sale, the insider now owns 21,155 shares in the company, valued at approximately $5,539,648.30. The trade was a 41.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the business’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 sale, the chief executive officer now owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $231.33 on Thursday. The company has a fifty day moving average of $244.35 and a 200-day moving average of $217.50. The firm has a market capitalization of $62.26 billion, a P/E ratio of 21.64, a P/E/G ratio of 0.90 and a beta of 2.53. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a twelve month low of $124.24 and a twelve month high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate 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 period last year, the company posted $1.25 earnings per share. As a group, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises announced that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.30%. 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 payout ratio is 28.06%.

Wall Street Analyst Weigh In

RCL has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. The Goldman Sachs Group cut their target price on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. lifted their target price on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Susquehanna dropped their price target on shares of Royal Caribbean Cruises from $305.00 to $295.00 and set a “positive” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley boosted their price target on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and an average price target of $283.53.

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.