Cassaday & Co Wealth Management LLC Acquires 236 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Cassaday & Co Wealth Management LLC increased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,928 shares of the company’s stock after buying an additional 236 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Royal Caribbean Cruises were worth $676,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Plato Investment Management Ltd acquired a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth about $26,000. Safe Harbor Fiduciary LLC acquired a new position in Royal Caribbean Cruises during the third quarter valued at approximately $27,000. LRI Investments LLC bought a new stake in Royal Caribbean Cruises in the third quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter valued at approximately $36,000. Finally, ORG Wealth Partners LLC acquired a new stake in Royal Caribbean Cruises in the fourth quarter worth $40,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Down 4.0 %

Shares of RCL stock opened at $234.16 on Friday. The firm’s fifty day moving average price is $244.35 and its two-hundred day moving average price is $212.42. 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 $119.48 and a 1 year high of $277.08. The firm has a market capitalization of $63.02 billion, a P/E ratio of 21.90, a PEG ratio of 0.98 and a beta of 2.59.

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

Royal Caribbean Cruises Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.28%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is currently 28.06%.

Royal Caribbean Cruises announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Argus boosted their price target on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Morgan Stanley boosted their target price on Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Sanford C. Bernstein initiated 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. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Mizuho reissued an “outperform” rating and set a $253.00 target price (down from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average target price of $284.12.

Insider Activity

In other news, Director Richard D. Fain sold 19,500 shares of the business’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 directly owns 185,021 shares in the company, valued at $47,491,190.28. The trade was a 9.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason T. Liberty sold 58,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 143,214 shares in the company, valued at approximately $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 90 days, insiders sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is owned by insiders.

About Royal Caribbean Cruises

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.