Florida Financial Advisors LLC Purchases Shares of 1,043 Royal Caribbean Cruises Ltd. (NYSE:RCL)

Florida Financial Advisors LLC acquired a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the fourth quarter, Holdings Channel reports. The firm acquired 1,043 shares of the company’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC grew its holdings 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 worth $498,000 after acquiring an additional 1,804 shares during the period. Park Avenue Securities LLC grew its position in Royal Caribbean Cruises by 20.1% in the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock worth $1,530,000 after buying an additional 1,111 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Royal Caribbean Cruises by 76.1% in the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock valued at $5,142,000 after buying an additional 12,530 shares in the last quarter. Lorne Steinberg Wealth Management Inc. acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $231,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Royal Caribbean Cruises by 2.7% during 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 in the last quarter. Institutional investors own 87.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RCL. Stifel Nicolaus raised their target price on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective 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. Argus increased their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Tigress Financial raised their target price 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. Finally, UBS Group increased their price objective on Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus price target of $283.53.

Royal Caribbean Cruises Trading Down 0.2 %

Shares of RCL opened at $225.06 on Wednesday. The stock’s 50-day moving average price is $239.89 and its 200 day moving average price is $223.00. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $60.57 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 0.90 and a beta of 2.53. Royal Caribbean Cruises Ltd. has a 12-month low of $125.06 and a 12-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 (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 previous year, the firm earned $1.25 EPS. As a group, research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

Royal Caribbean Cruises declared that its board has initiated a stock repurchase program 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises stock in a transaction dated 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 transaction, the insider now directly owns 21,155 shares of the company’s stock, valued at $5,539,648.30. This trade represents a 41.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction dated 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 in the company, valued at $47,491,190.28. This represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,492 shares of company stock worth $28,571,705 over the last three months. 7.95% of the stock is currently owned by corporate insiders.

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.