Nordea Investment Management AB Lowers Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Nordea Investment Management AB decreased its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 12.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 162,165 shares of the company’s stock after selling 23,824 shares during the period. Nordea Investment Management AB owned about 0.06% of Royal Caribbean Cruises worth $37,670,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Plato Investment Management Ltd bought a new stake in Royal Caribbean Cruises during the third quarter worth about $26,000. Safe Harbor Fiduciary LLC bought a new stake in Royal Caribbean Cruises in the third quarter worth $27,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Royal Caribbean Cruises by 257.4% during the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after acquiring an additional 121 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Royal Caribbean Cruises in the 3rd quarter worth about $31,000. Finally, Meeder Asset Management Inc. raised its position in shares of Royal Caribbean Cruises by 50.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $37,000 after purchasing an additional 78 shares during the last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

NYSE RCL opened at $225.11 on Wednesday. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises Ltd. has a 12 month low of $113.10 and a 12 month high of $258.70. The stock has a market cap of $60.53 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 0.65 and a beta of 2.59. The company’s 50 day moving average is $234.54 and its two-hundred day moving average is $192.14.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the company earned $3.85 EPS. Royal Caribbean Cruises’s revenue for the quarter was up 17.5% on a year-over-year basis. As a group, research analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio is currently 22.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Tigress Financial boosted their price target on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Truist Financial upped their target price on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Barclays increased their price objective on shares of Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $239.75.

Insider Buying and Selling

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the sale, the executive vice president now directly owns 22,348 shares in the company, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total value of $33,150,685.17. Following the transaction, the director now owns 18,167,507 shares of the company’s stock, valued at $4,321,868,240.23. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 404,332 shares of company stock valued at $94,299,521. Corporate insiders own 7.95% of the company’s stock.

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.