Westfield Capital Management Co. LP Cuts Stock Holdings in Royal Caribbean Cruises Ltd. $RCL

Westfield Capital Management Co. LP lessened its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 4.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 336,512 shares of the company’s stock after selling 16,013 shares during the period. Westfield Capital Management Co. LP’s holdings in Royal Caribbean Cruises were worth $108,889,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RCL. Evolution Wealth Management Inc. purchased a new stake in Royal Caribbean Cruises during the second quarter worth $31,000. GGM Financials LLC purchased a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at $33,000. Financial Gravity Companies Inc. bought a new position in shares of Royal Caribbean Cruises in the 2nd quarter worth $38,000. Westside Investment Management Inc. lifted its stake in shares of Royal Caribbean Cruises by 29.1% during the 2nd quarter. Westside Investment Management Inc. now owns 142 shares of the company’s stock worth $45,000 after purchasing an additional 32 shares during the last quarter. Finally, NewSquare Capital LLC boosted its position in Royal Caribbean Cruises by 85.2% during the second quarter. NewSquare Capital LLC now owns 150 shares of the company’s stock valued at $47,000 after purchasing an additional 69 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, 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 transaction of $2,562,053.34. Following the completion of the sale, the insider directly owned 32,786 shares in the company, valued at approximately $10,695,121.06. The trade was a 19.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael W. Bayley sold 80,000 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $326.82, for a total transaction of $26,145,600.00. Following the completion of the sale, the chief executive officer directly owned 58,108 shares in the company, valued at $18,990,856.56. This trade represents a 57.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,195,712 shares of company stock worth $383,111,652. 6.95% of the stock is owned by company insiders.

Royal Caribbean Cruises Stock Down 1.1%

RCL stock opened at $312.94 on Thursday. The firm has a 50 day moving average of $303.62 and a 200 day moving average of $303.19. The stock has a market capitalization of $84.66 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 1.03 and a beta of 1.91. The company has a quick ratio of 0.16, a current ratio of 0.18 and a debt-to-equity ratio of 1.77. Royal Caribbean Cruises Ltd. has a 52 week low of $164.01 and a 52 week high of $366.50.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.80. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.28 billion. Royal Caribbean Cruises had a net margin of 23.80% and a return on equity of 45.06%. Royal Caribbean Cruises’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 EPS. 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 initiated a share repurchase plan on Wednesday, December 10th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase 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 stock is undervalued.

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 paid a $1.50 dividend. The ex-dividend date 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 annualized dividend and a dividend yield of 1.9%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 25.62%.

Analysts Set New Price Targets

A number of brokerages have commented on RCL. Mizuho set a $379.00 target price on shares of Royal Caribbean Cruises in a report on Friday, January 30th. Susquehanna set a $350.00 price objective on shares of Royal Caribbean Cruises and gave the stock a “positive” rating in a research report on Thursday, October 30th. The Goldman Sachs Group boosted their price objective on shares of Royal Caribbean Cruises from $310.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Truist Financial decreased their target price on shares of Royal Caribbean Cruises from $321.00 to $318.00 and set a “hold” rating for the company in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company raised their target price on shares of Royal Caribbean Cruises from $373.00 to $383.00 and gave the company an “overweight” rating in a research note on Sunday, February 1st. 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 company. According to MarketBeat, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average price target of $348.29.

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.