Allspring Global Investments Holdings LLC Decreases Stake in Royal Caribbean Cruises Ltd. $RCL

Allspring Global Investments Holdings LLC reduced its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 91.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,740 shares of the company’s stock after selling 258,322 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Royal Caribbean Cruises were worth $6,441,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. purchased a new position in Royal Caribbean Cruises in the 2nd quarter valued at about $31,000. GGM Financials LLC bought a new position in shares of Royal Caribbean Cruises during the third quarter worth about $33,000. Rosenberg Matthew Hamilton bought a new position in shares of Royal Caribbean Cruises during the fourth quarter worth about $33,000. JPL Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises during the third quarter worth about $37,000. Finally, Wealth Watch Advisors INC bought a new position in shares of Royal Caribbean Cruises during the third quarter worth about $42,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Maritza Gomez Montiel sold 1,385 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $327.18, for a total transaction of $453,144.30. Following the sale, the director owned 12,849 shares of the company’s stock, valued at approximately $4,203,935.82. The trade was a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Laura H. Bethge sold 7,854 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $326.21, for a total value of $2,562,053.34. Following the sale, the insider directly owned 32,786 shares in the company, valued at approximately $10,695,121.06. This trade represents a 19.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,967,319 shares of company stock valued at $626,681,935. Insiders own 6.95% of the company’s stock.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL opened at $275.64 on Tuesday. The company has a quick ratio of 0.16, a current ratio of 0.18 and a debt-to-equity ratio of 1.77. The firm’s 50-day moving average price is $299.38 and its two-hundred day moving average price is $291.56. Royal Caribbean Cruises Ltd. has a 52-week low of $164.01 and a 52-week high of $366.50. The stock has a market capitalization of $74.57 billion, a P/E ratio of 17.66, a P/E/G ratio of 0.89 and a beta of 1.93.

Royal Caribbean Cruises (NYSE:RCL) last issued 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 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 analysts’ expectations of $4.28 billion. During the same quarter last year, the company posted $1.63 earnings per share. Royal Caribbean Cruises’s revenue was up 13.2% on a year-over-year basis. As a group, sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

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

Royal Caribbean Cruises Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RCL shares. TD Cowen reaffirmed a “buy” rating on shares of Royal Caribbean Cruises in a research report on Tuesday, January 13th. Bank of America increased their price target on shares of Royal Caribbean Cruises from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Tigress Financial increased their price target on shares of Royal Caribbean Cruises from $415.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. increased their price target on shares of Royal Caribbean Cruises from $371.00 to $376.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. Finally, Wells Fargo & Company increased their price target on shares of Royal Caribbean Cruises from $373.00 to $383.00 and gave the stock an “overweight” rating in a research report on Sunday, February 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average target price of $353.30.

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.