Victory Capital Management Inc. Grows Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Victory Capital Management Inc. raised its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,684 shares of the company’s stock after buying an additional 4,300 shares during the quarter. Victory Capital Management Inc.’s holdings in Royal Caribbean Cruises were worth $19,766,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Plato Investment Management Ltd purchased a new stake in Royal Caribbean Cruises in the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at $27,000. LRI Investments LLC purchased a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at $31,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth $36,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth $40,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

Shares of RCL opened at $207.07 on Wednesday. The firm has a fifty day moving average of $242.53 and a 200-day moving average of $219.34. The company has a market cap of $55.73 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. Royal Caribbean Cruises Ltd. has a 1 year low of $125.06 and a 1 year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results 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 net margin of 17.46% and a return on equity of 48.97%. During the same quarter last year, the business posted $1.25 earnings per share. As a group, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.45%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, March 7th. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

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

Analysts Set New Price Targets

RCL has been the subject of a number of research reports. Morgan Stanley boosted their price target on Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Bank of America increased their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Tigress Financial boosted their price objective on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 target price on the stock. Finally, The Goldman Sachs Group decreased 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. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and an average price target of $283.53.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the transaction, the director now owns 185,021 shares of the company’s stock, valued at approximately $47,491,190.28. This trade represents a 9.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Laura H. Bethge sold 14,992 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 directly owns 21,155 shares of the company’s stock, valued at approximately $5,539,648.30. This represents a 41.48 % 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 in the last three months. 7.95% of the stock is owned by company 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.