Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 8.9% in the fourth quarter, HoldingsChannel reports. The fund owned 387,437 shares of the company’s stock after acquiring an additional 31,814 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Royal Caribbean Cruises were worth $88,700,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Safe Harbor Fiduciary LLC acquired a new position in Royal Caribbean Cruises in the 3rd quarter worth about $27,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $36,000. Truvestments Capital LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $36,000. ORG Wealth Partners LLC purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $40,000. Finally, LRI Investments LLC acquired a new stake in Royal Caribbean Cruises in the 3rd quarter valued at $31,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RCL. BNP Paribas assumed coverage on shares of Royal Caribbean Cruises in a research report on Thursday. They set an “outperform” rating and a $262.00 price objective for the company. Tigress Financial raised 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 note on Friday, February 7th. Susquehanna reiterated a “positive” rating on shares of Royal Caribbean Cruises in a research note on Tuesday. Morgan Stanley increased their target price on Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $282.33.

Royal Caribbean Cruises Price Performance

Shares of RCL stock opened at $217.23 on Friday. The firm’s 50-day moving average is $239.31 and its two-hundred day moving average is $222.94. Royal Caribbean Cruises Ltd. has a 12 month low of $125.06 and a 12 month 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 $58.46 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating 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 previous year, the firm earned $1.25 EPS. 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 $0.75 dividend. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.38%. Royal Caribbean Cruises’s payout ratio is presently 28.06%.

Royal Caribbean Cruises declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Jason T. Liberty sold 58,000 shares of the firm’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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock worth $28,571,705 over the last ninety days. Corporate insiders own 7.95% of the company’s stock.

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.