Elo Mutual Pension Insurance Co Raises Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Elo Mutual Pension Insurance Co grew its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 9.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,627 shares of the company’s stock after purchasing an additional 2,045 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Royal Caribbean Cruises were worth $5,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Royal Caribbean Cruises by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company’s stock valued at $6,476,003,000 after purchasing an additional 2,068,114 shares during the period. National Pension Service grew its holdings in Royal Caribbean Cruises by 138.9% during the 4th quarter. National Pension Service now owns 864,049 shares of the company’s stock valued at $199,327,000 after buying an additional 502,349 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter valued at approximately $69,556,000. AustralianSuper Pty Ltd raised its position in shares of Royal Caribbean Cruises by 2,042.8% during the fourth quarter. AustralianSuper Pty Ltd now owns 122,887 shares of the company’s stock valued at $28,349,000 after buying an additional 117,152 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Royal Caribbean Cruises by 138.2% in the third 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 in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL opened at $217.23 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a 12 month low of $125.06 and a 12 month high of $277.08. The company has a market capitalization of $58.46 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 0.90 and a beta of 2.53. The firm’s 50-day moving average is $239.31 and its 200 day moving average is $222.94.

Royal Caribbean Cruises (NYSE:RCL) last released 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 previous year, the business earned $1.25 EPS. Research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

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

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.38%. This is an increase 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 (DPR) is 28.06%.

Insider Activity

In other Royal Caribbean Cruises news, CFO Naftali Holtz sold 17,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the transaction, the chief financial officer now directly owns 42,127 shares in the company, valued at $11,021,265.74. This trade represents a 28.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the completion of the sale, the director now owns 185,021 shares of the company’s stock, 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. Over the last ninety days, insiders sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Citigroup lifted their target price on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Tigress Financial increased their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Argus lifted their price objective on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Barclays increased their target price on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and an average target price of $282.33.

About Royal Caribbean Cruises

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.