QRG Capital Management Inc. Acquires 3,499 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

QRG Capital Management Inc. boosted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,068 shares of the company’s stock after purchasing an additional 3,499 shares during the period. QRG Capital Management Inc.’s holdings in Royal Caribbean Cruises were worth $10,397,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. National Pension Service lifted its position in shares of Royal Caribbean Cruises by 138.9% during the 4th quarter. National Pension Service now owns 864,049 shares of the company’s stock worth $199,327,000 after buying an additional 502,349 shares during the period. Proficio Capital Partners LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter valued at $69,556,000. AustralianSuper Pty Ltd raised its stake in Royal Caribbean Cruises by 2,042.8% during the fourth quarter. AustralianSuper Pty Ltd now owns 122,887 shares of the company’s stock worth $28,349,000 after acquiring an additional 117,152 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Royal Caribbean Cruises by 138.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company’s stock valued at $28,703,000 after acquiring an additional 93,899 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Royal Caribbean Cruises during the third quarter valued at $14,544,000. 87.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the transaction, the chief executive officer now owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura H. Bethge sold 14,992 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 21,155 shares of the company’s stock, valued at approximately $5,539,648.30. This represents a 41.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 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 Stock Performance

Shares of NYSE:RCL opened at $238.01 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 1-year low of $121.18 and a 1-year high of $277.08. The stock has a market capitalization of $64.06 billion, a P/E ratio of 22.26, a P/E/G ratio of 0.90 and a beta of 2.59. The business has a 50-day moving average price of $244.59 and a two-hundred day moving average price of $214.84.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share 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 earned $1.25 earnings per share. Equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises declared that its board has authorized a stock buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be paid a $0.75 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.26%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RCL. Bank of America upped their target price on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Barclays lifted their target price on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Sanford C. Bernstein assumed coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $284.12.

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.