Sherman Porfolios LLC Takes $808,000 Position in Royal Caribbean Cruises Ltd. $RCL

Sherman Porfolios LLC acquired a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 2,497 shares of the company’s stock, valued at approximately $808,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RCL. Evolution Wealth Management Inc. purchased a new stake in shares of Royal Caribbean Cruises during the second quarter valued at $31,000. GGM Financials LLC purchased a new position in Royal Caribbean Cruises in the 3rd quarter worth about $33,000. JPL Wealth Management LLC acquired a new stake in Royal Caribbean Cruises during the 3rd quarter worth about $37,000. Wealth Watch Advisors INC acquired a new stake in Royal Caribbean Cruises during the 3rd quarter worth about $42,000. Finally, Dogwood Wealth Management LLC lifted its stake in Royal Caribbean Cruises by 318.8% during the third quarter. Dogwood Wealth Management LLC now owns 134 shares of the company’s stock valued at $43,000 after buying an additional 102 shares in the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on RCL shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Royal Caribbean Cruises in a report on Friday, December 26th. William Blair reiterated an “outperform” rating on shares of Royal Caribbean Cruises in a research note on Thursday, January 29th. Jefferies Financial Group raised their price target on Royal Caribbean Cruises from $275.00 to $334.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. TD Cowen reissued a “buy” rating on shares of Royal Caribbean Cruises in a research note on Tuesday, January 13th. Finally, Truist Financial cut their price objective on shares of Royal Caribbean Cruises from $321.00 to $318.00 and set a “hold” rating on the stock in a research report on Thursday, January 22nd. One 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 company. According to MarketBeat, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus price target of $348.52.

Insider Buying and Selling

In related news, CEO Jason T. Liberty sold 90,910 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $326.81, for a total value of $29,710,297.10. Following the transaction, the chief executive officer directly owned 218,822 shares in the company, valued at approximately $71,513,217.82. This trade represents a 29.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Arne Alexander Wilhelmsen sold 356,026 shares of Royal Caribbean Cruises stock in a transaction 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 transaction, 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 SEC filing for this sale provides additional information. In the last three months, 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 Price Performance

Shares of NYSE:RCL opened at $269.71 on Thursday. The stock has a market capitalization of $72.97 billion, a P/E ratio of 17.28, a P/E/G ratio of 0.91 and a beta of 1.87. The business has a 50-day moving average of $303.13 and a two-hundred day moving average of $298.38. Royal Caribbean Cruises Ltd. has a fifty-two week low of $164.01 and a fifty-two week high of $366.50. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.18 and a quick ratio of 0.16.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.80 EPS for the quarter, meeting analysts’ consensus estimates of $2.80. Royal Caribbean Cruises had a return on equity of 45.06% and a net margin of 23.80%.The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Friday, March 6th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.2%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 6th. Royal Caribbean Cruises’s dividend payout ratio is 38.44%.

Royal Caribbean Cruises announced that its board has initiated a share buyback plan on Wednesday, December 10th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About Royal Caribbean Cruises

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.