4,199 Shares in Royal Caribbean Cruises Ltd. (NYSE:RCL) Acquired by Heritage Trust Co

Heritage Trust Co purchased a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,199 shares of the company’s stock, valued at approximately $969,000.

Other hedge funds have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. grew its holdings in shares of Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Bay Harbor Wealth Management LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter worth about $36,000. Truvestments Capital LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter worth about $36,000. ORG Wealth Partners LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter worth about $40,000. Finally, Atlantic Edge Private Wealth Management LLC raised its stake in shares of Royal Caribbean Cruises by 100.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company’s stock valued at $46,000 after acquiring an additional 100 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 14,992 shares of the company’s 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 sale, the insider now owns 21,155 shares of the company’s stock, valued at $5,539,648.30. This represents a 41.48 % decrease in their ownership of the stock. 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 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 owns 185,021 shares in the company, valued at $47,491,190.28. The trade was a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,492 shares of company stock worth $28,571,705 over the last ninety days. Insiders own 7.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RCL. UBS Group raised their price target on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Argus raised their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group cut their price target on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, January 24th. Loop Capital raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a report on Wednesday, March 5th. Finally, Mizuho reaffirmed an “outperform” rating and issued a $253.00 target price (down from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and an average price target of $276.95.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $191.98 on Friday. The firm has a market capitalization of $51.67 billion, a PE ratio of 17.96, a P/E/G ratio of 0.90 and a beta of 2.26. Royal Caribbean Cruises Ltd. has a 52-week low of $125.06 and a 52-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 stock has a 50 day simple moving average of $224.70 and a 200 day simple moving average of $225.30.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share 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 period in the prior year, the company earned $1.25 earnings per share. Sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has approved a share buyback plan 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 plans are typically a sign that the company’s management believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 7th were issued a $0.75 dividend. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, March 7th. Royal Caribbean Cruises’s payout ratio is currently 28.06%.

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.