Amalgamated Bank Increases Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Amalgamated Bank boosted its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 0.7% during the fourth quarter, Holdings Channel reports. The fund owned 48,030 shares of the company’s stock after acquiring an additional 329 shares during the period. Amalgamated Bank’s holdings in Royal Caribbean Cruises were worth $11,080,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Hemington Wealth Management increased its position in shares of Royal Caribbean Cruises by 9.0% during the 4th quarter. Hemington Wealth Management now owns 533 shares of the company’s stock valued at $123,000 after purchasing an additional 44 shares during the last quarter. Fifth Third Wealth Advisors LLC grew 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 valued at $544,000 after acquiring an additional 50 shares during the last quarter. Bartlett & CO. Wealth Management LLC raised its stake in shares of 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 acquiring an additional 50 shares in the last quarter. DT Investment Partners LLC lifted its holdings in shares of Royal Caribbean Cruises by 16.7% in the 4th quarter. DT Investment Partners LLC now owns 350 shares of the company’s stock worth $81,000 after acquiring an additional 50 shares during the last quarter. Finally, FSM Wealth Advisors LLC boosted its stake in shares of Royal Caribbean Cruises by 3.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock valued at $290,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

RCL stock opened at $237.88 on Wednesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. Royal Caribbean Cruises Ltd. has a 1 year low of $119.48 and a 1 year high of $277.08. The firm has a 50-day moving average of $244.16 and a 200 day moving average of $214.47. The company has a market cap of $64.02 billion, a P/E ratio of 22.25, a PEG ratio of 0.90 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) 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 period last year, the company posted $1.25 earnings per share. On average, sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management 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 given a dividend of $0.75 per share. The ex-dividend date is Friday, March 7th. This represents a $3.00 annualized dividend and a yield of 1.26%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 28.06%.

Insider Activity

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the completion of the transaction, the insider now owns 21,155 shares of the company’s stock, valued at approximately $5,539,648.30. This trade represents a 41.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction that occurred on 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 owns 185,021 shares of the company’s stock, 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 have sold 109,492 shares of company stock worth $28,571,705. Corporate insiders own 7.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RCL shares. Morgan Stanley lifted 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 research report on Monday, February 3rd. Macquarie boosted their target price on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Loop Capital initiated coverage on Royal Caribbean Cruises in a research report on Tuesday, February 4th. They set a “hold” rating and a $250.00 price target on the stock. Wells Fargo & Company boosted their price objective 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. Finally, Truist Financial raised their target price on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $284.12.

Royal Caribbean Cruises Company 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.