Royal Caribbean Cruises Ltd. $RCL Stock Position Lifted by Assetmark Inc.

Assetmark Inc. boosted its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 234.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,894 shares of the company’s stock after purchasing an additional 290,880 shares during the quarter. Assetmark Inc. owned approximately 0.15% of Royal Caribbean Cruises worth $134,251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Royal Caribbean Cruises by 12.2% in the fourth quarter. Brighton Jones LLC now owns 1,312 shares of the company’s stock valued at $303,000 after buying an additional 143 shares during the period. Woodline Partners LP grew its position in Royal Caribbean Cruises by 40.8% during the 1st quarter. Woodline Partners LP now owns 20,918 shares of the company’s stock worth $4,297,000 after purchasing an additional 6,063 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Royal Caribbean Cruises by 30.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,280 shares of the company’s stock worth $1,966,000 after buying an additional 1,456 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new stake in shares of Royal Caribbean Cruises during the 2nd quarter valued at $201,000. Finally, Moran Wealth Management LLC increased its stake in shares of Royal Caribbean Cruises by 31.7% during the 2nd quarter. Moran Wealth Management LLC now owns 1,293 shares of the company’s stock worth $405,000 after purchasing an additional 311 shares during the last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock opened at $332.78 on Friday. The company has a market capitalization of $90.75 billion, a PE ratio of 21.32, a PEG ratio of 1.09 and a beta of 1.91. The company has a current ratio of 0.18, a quick ratio of 0.16 and a debt-to-equity ratio of 1.77. The stock’s fifty day simple moving average is $295.46 and its 200 day simple moving average is $303.60. Royal Caribbean Cruises Ltd. has a 12 month low of $164.01 and a 12 month high of $366.50.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Thursday, January 29th. The company reported $2.80 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $4.28 billion. Royal Caribbean Cruises’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 EPS. On average, research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed 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. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $1.00. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, March 6th. Royal Caribbean Cruises’s payout ratio is currently 25.62%.

Royal Caribbean Cruises declared that its board has initiated a share buyback plan on Wednesday, December 10th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Citigroup increased their price target on Royal Caribbean Cruises from $332.00 to $398.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Wells Fargo & Company lifted their price objective on Royal Caribbean Cruises from $373.00 to $383.00 and gave the stock an “overweight” rating in a research note on Sunday, February 1st. TD Cowen reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research note on Tuesday, January 13th. UBS Group cut their price objective on shares of Royal Caribbean Cruises from $353.00 to $304.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Finally, Tigress Financial increased their price objective on shares of Royal Caribbean Cruises from $415.00 to $425.00 and gave the company a “buy” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $348.29.

Royal Caribbean Cruises 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.