Royal Caribbean Cruises Ltd. $RCL Shares Sold by FNY Investment Advisers LLC

FNY Investment Advisers LLC trimmed its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 69.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,186 shares of the company’s stock after selling 2,644 shares during the quarter. FNY Investment Advisers LLC’s holdings in Royal Caribbean Cruises were worth $383,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Evolution Wealth Management Inc. purchased a new position in Royal Caribbean Cruises during the second quarter worth approximately $31,000. GGM Financials LLC purchased a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at $33,000. JPL Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the 3rd quarter worth $37,000. Wealth Watch Advisors INC acquired a new stake in shares of Royal Caribbean Cruises during the 3rd quarter worth $42,000. Finally, Dogwood Wealth Management LLC raised its position in shares of Royal Caribbean Cruises by 318.8% in the 3rd quarter. Dogwood Wealth Management LLC now owns 134 shares of the company’s stock worth $43,000 after buying an additional 102 shares during the period. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of RCL stock opened at $272.48 on Friday. The company has a market capitalization of $73.71 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 0.88 and a beta of 1.87. The firm has a fifty day simple moving average of $302.49 and a 200-day simple moving average of $298.20. The company has a current ratio of 0.18, a quick ratio of 0.16 and a debt-to-equity ratio of 1.77. Royal Caribbean Cruises Ltd. has a twelve month low of $164.01 and a twelve month high of $366.50.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.80. Royal Caribbean Cruises had a net margin of 23.80% and a return on equity of 45.06%. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the firm posted $1.63 EPS. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Friday, March 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $1.00. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.2%. Royal Caribbean Cruises’s dividend payout ratio is presently 38.44%.

Royal Caribbean Cruises announced that its board has authorized a share repurchase program on Wednesday, December 10th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RCL shares. Wells Fargo & Company lifted their target price on Royal Caribbean Cruises from $373.00 to $383.00 and gave the company an “overweight” rating in a report on Sunday, February 1st. Morgan Stanley upped their price target on Royal Caribbean Cruises from $290.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Mizuho set a $379.00 price objective on Royal Caribbean Cruises in a report on Friday, January 30th. Truist Financial reduced their price objective on Royal Caribbean Cruises from $321.00 to $318.00 and set a “hold” rating on the stock in a research note on Thursday, January 22nd. Finally, Citigroup boosted their target price on Royal Caribbean Cruises from $332.00 to $398.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $348.52.

Insider Activity

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 356,026 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $318.39, for a total transaction of $113,355,118.14. Following the completion of the sale, the director owned 16,681,386 shares in the company, valued at $5,311,186,488.54. This trade represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason T. Liberty sold 90,910 shares of Royal Caribbean Cruises stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $326.81, for a total value of $29,710,297.10. Following the sale, the chief executive officer owned 218,822 shares in the company, valued at $71,513,217.82. This represents a 29.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,967,319 shares of company stock worth $626,681,935. Insiders own 6.95% of the company’s stock.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises (NYSE: RCL), operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel‑agent channels.

Royal Caribbean’s ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.