Nomura Asset Management Co. Ltd. Has $45.76 Million Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Nomura Asset Management Co. Ltd. boosted its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 22.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 198,354 shares of the company’s stock after purchasing an additional 36,519 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.07% of Royal Caribbean Cruises worth $45,758,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Trust N.A. acquired a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at about $202,000. Bridgewater Associates LP acquired a new stake in Royal Caribbean Cruises in the third quarter valued at approximately $4,779,000. Glenmede Trust Co. NA increased its holdings in shares of Royal Caribbean Cruises by 1.8% during the third quarter. Glenmede Trust Co. NA now owns 6,080 shares of the company’s stock valued at $1,078,000 after acquiring an additional 110 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Royal Caribbean Cruises during the third quarter worth approximately $14,544,000. Finally, CreativeOne Wealth LLC lifted its holdings in shares of Royal Caribbean Cruises by 459.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 7,812 shares of the company’s stock worth $1,386,000 after purchasing an additional 6,415 shares in the last quarter. 87.53% of the stock is owned by institutional investors.

Royal Caribbean Cruises Stock Down 4.6 %

Royal Caribbean Cruises stock opened at $207.35 on Friday. The firm has a 50 day moving average price of $238.63 and a 200-day moving average price of $223.27. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a twelve month low of $125.06 and a twelve month high of $277.08. The company has a market capitalization of $55.80 billion, a P/E ratio of 19.40, a P/E/G ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same period in the prior year, the company earned $1.25 earnings per share. As a group, equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

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

Insider Activity at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 14,992 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 21,155 shares in the company, valued at approximately $5,539,648.30. The trade was a 41.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total value of $15,193,100.00. Following the sale, the chief executive officer now directly owns 143,214 shares in the company, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Loop Capital upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Wednesday, March 5th. The Goldman Sachs Group lowered their target price on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Argus lifted their price target on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Citigroup increased their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their target price on Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and a consensus price target of $282.33.

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.