West Michigan Advisors LLC Acquires 2,622 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

West Michigan Advisors LLC grew its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 70.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,333 shares of the company’s stock after acquiring an additional 2,622 shares during the quarter. West Michigan Advisors LLC’s holdings in Royal Caribbean Cruises were worth $1,462,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Hemington Wealth Management lifted its position in Royal Caribbean Cruises by 9.0% during the fourth quarter. Hemington Wealth Management now owns 533 shares of the company’s stock worth $123,000 after purchasing an additional 44 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in Royal Caribbean Cruises by 2.2% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock worth $544,000 after purchasing an additional 50 shares during the period. Bartlett & CO. Wealth Management LLC lifted its position in Royal Caribbean Cruises by 12.3% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 457 shares of the company’s stock worth $106,000 after purchasing an additional 50 shares during the period. DT Investment Partners LLC lifted its position in Royal Caribbean Cruises by 16.7% during the fourth quarter. DT Investment Partners LLC now owns 350 shares of the company’s stock worth $81,000 after purchasing an additional 50 shares during the period. Finally, FSM Wealth Advisors LLC lifted its position in Royal Caribbean Cruises by 3.2% during the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after purchasing an additional 51 shares during the period. Institutional investors own 87.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Bank of America upped their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Citigroup upped their price objective on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their target price on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. 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 report on Friday, January 24th. Finally, Morgan Stanley increased their target price on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $284.12.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 21,155 shares in the company, valued at approximately $5,539,648.30. This represents a 41.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard D. Fain sold 19,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the transaction, the director now owns 185,021 shares in the company, valued at $47,491,190.28. The trade was a 9.53 % 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 currently owned by company insiders.

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock opened at $246.04 on Friday. The business has a 50 day moving average of $244.74 and a 200-day moving average of $215.48. Royal Caribbean Cruises Ltd. has a 1 year low of $121.58 and a 1 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 capitalization of $66.22 billion, a P/E ratio of 23.02, a P/E/G ratio of 0.90 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating 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 firm posted $1.25 earnings per share. On average, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase 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 declared that its board has initiated a share repurchase program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.