Horizon Kinetics Asset Management LLC Has $13.19 Million Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Horizon Kinetics Asset Management LLC lowered its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,153 shares of the company’s stock after selling 728 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Royal Caribbean Cruises were worth $13,185,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RCL. Parallel Advisors LLC lifted its position in Royal Caribbean Cruises by 6.6% in the fourth quarter. Parallel Advisors LLC now owns 2,684 shares of the company’s stock worth $619,000 after purchasing an additional 166 shares during the period. Cibc World Markets Corp increased its stake in shares of Royal Caribbean Cruises by 19.1% in the fourth quarter. Cibc World Markets Corp now owns 38,876 shares of the company’s stock valued at $8,968,000 after buying an additional 6,248 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Royal Caribbean Cruises by 3.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 8,226 shares of the company’s stock worth $1,898,000 after purchasing an additional 305 shares during the period. Campbell Capital Management Inc. acquired a new stake in Royal Caribbean Cruises in the fourth quarter worth about $55,000. Finally, Sienna Gestion boosted its holdings in Royal Caribbean Cruises by 622.7% during the fourth quarter. Sienna Gestion now owns 32,723 shares of the company’s stock worth $7,548,000 after buying an additional 28,195 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Insider Activity

In related news, CEO Jason T. Liberty sold 58,000 shares of the company’s stock in a transaction on 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 in the company, valued at $37,514,907.30. This represents a 28.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Laura H. Bethge sold 14,992 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the transaction, the insider now directly owns 21,155 shares of the company’s stock, valued at approximately $5,539,648.30. The trade was a 41.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Trading Up 2.1 %

NYSE RCL opened at $212.33 on Monday. The stock has a market capitalization of $57.14 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 0.90 and a beta of 2.53. Royal Caribbean Cruises Ltd. has a 52 week low of $125.06 and a 52 week high of $277.08. The stock’s 50 day moving average price is $241.31 and its two-hundred day moving average price is $220.25. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17.

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 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 quarter last year, the business posted $1.25 EPS. As a group, analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises declared 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 shares. This repurchase authorization permits the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase programs are generally an indication 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 issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. This is a positive change 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 currently 28.06%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RCL shares. Truist Financial raised their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Barclays raised their target price on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. The Goldman Sachs Group reduced their target price on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Morgan Stanley raised their target price on Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $283.53.

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.