Truist Financial Corp Acquires 2,611 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Truist Financial Corp raised its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 11.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 26,235 shares of the company’s stock after acquiring an additional 2,611 shares during the period. Truist Financial Corp’s holdings in Royal Caribbean Cruises were worth $6,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. CIBC Asset Management Inc raised its position in shares of Royal Caribbean Cruises by 8.1% during the 4th quarter. CIBC Asset Management Inc now owns 38,438 shares of the company’s stock valued at $8,867,000 after acquiring an additional 2,865 shares during the last quarter. Nicholas Hoffman & Company LLC. bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $236,000. Principal Financial Group Inc. raised its position 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 valued at $67,137,000 after acquiring an additional 7,740 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $297,000. Finally, MN Wealth Advisors LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $233,000. Institutional investors own 87.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on RCL shares. The Goldman Sachs Group dropped their target price on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Susquehanna upped their price objective on shares of Royal Caribbean Cruises from $245.00 to $305.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Argus upped their price objective on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, UBS Group upped their price objective on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and an average price target of $284.12.

Royal Caribbean Cruises Trading Down 4.0 %

Royal Caribbean Cruises stock opened at $234.16 on Friday. The firm has a 50-day moving average of $244.35 and a 200-day moving average of $212.86. Royal Caribbean Cruises Ltd. has a one year low of $119.48 and a one year high of $277.08. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The company has a market cap of $63.02 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 0.90 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping 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 in the prior year, the business posted $1.25 earnings per share. On average, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase 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 currently 20.58%.

Royal Caribbean Cruises declared that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 14,992 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the sale, the insider now directly owns 21,155 shares in the company, valued at approximately $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 accessible through the SEC website. Also, CFO Naftali Holtz sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the completion of the sale, the chief financial officer now owns 42,127 shares of the company’s stock, valued at $11,021,265.74. This trade represents a 28.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,492 shares of company stock worth $28,571,705 in the last three months. Insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises 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.