M&T Bank Corp Acquires 1,334 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

M&T Bank Corp increased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,037 shares of the company’s stock after purchasing an additional 1,334 shares during the quarter. M&T Bank Corp’s holdings in Royal Caribbean Cruises were worth $3,238,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of RCL. Plato Investment Management Ltd bought a new stake in Royal Caribbean Cruises during the third quarter valued at $26,000. Safe Harbor Fiduciary LLC bought a new stake in Royal Caribbean Cruises during the third quarter valued at $27,000. LRI Investments LLC bought a new stake in Royal Caribbean Cruises during the third quarter valued at $31,000. Bay Harbor Wealth Management LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter valued at $36,000. Finally, ORG Wealth Partners LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter valued at $40,000. Institutional investors own 87.53% of the company’s stock.

Insiders Place Their Bets

In other Royal Caribbean Cruises 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 value 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the completion of the sale, the chief executive officer now directly owns 143,214 shares of the company’s stock, valued at $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,492 shares of company stock valued at $28,571,705. Corporate insiders own 7.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Tigress Financial upped their price target on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, February 7th. The Goldman Sachs Group cut their price target on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Susquehanna dropped their price objective on shares of Royal Caribbean Cruises from $305.00 to $295.00 and set a “positive” rating on the stock in a report on Wednesday. StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company upped their price objective on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and an average target price of $283.53.

Royal Caribbean Cruises Trading Down 0.9 %

RCL opened at $213.59 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. Royal Caribbean Cruises Ltd. has a fifty-two week low of $125.06 and a fifty-two week high of $277.08. The firm has a market capitalization of $57.48 billion, a PE ratio of 19.98, a P/E/G ratio of 0.90 and a beta of 2.53. The company’s 50-day moving average is $243.51 and its 200 day moving average is $218.26.

Royal Caribbean Cruises (NYSE:RCL) last posted its 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 period last year, the firm posted $1.25 EPS. As a group, research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

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

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.40%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises’s dividend payout ratio is presently 28.06%.

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.