Mackenzie Financial Corp Purchases 21,490 Shares of Royal Caribbean Cruises Ltd. $RCL

Mackenzie Financial Corp increased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 13.8% during the 3rd quarter, Holdings Channel reports. The firm owned 176,667 shares of the company’s stock after buying an additional 21,490 shares during the period. Mackenzie Financial Corp’s holdings in Royal Caribbean Cruises were worth $57,166,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RCL. Brighton Jones LLC increased its holdings in Royal Caribbean Cruises by 12.2% during the 4th quarter. Brighton Jones LLC now owns 1,312 shares of the company’s stock valued at $303,000 after purchasing an additional 143 shares during the period. Woodline Partners LP lifted its holdings in Royal Caribbean Cruises by 40.8% in the 1st quarter. Woodline Partners LP now owns 20,918 shares of the company’s stock worth $4,297,000 after buying an additional 6,063 shares during the period. Montag A & Associates Inc. bought a new stake in shares of Royal Caribbean Cruises in the 2nd quarter worth approximately $74,000. Advyzon Investment Management LLC bought a new stake in shares of Royal Caribbean Cruises in the 2nd quarter worth approximately $222,000. Finally, KBC Group NV increased its stake in shares of Royal Caribbean Cruises by 14.7% during the second quarter. KBC Group NV now owns 120,468 shares of the company’s stock valued at $37,724,000 after buying an additional 15,435 shares during the period. 87.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Maritza Gomez Montiel sold 1,385 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $327.18, for a total value of $453,144.30. Following the completion of the transaction, the director owned 12,849 shares of the company’s stock, valued at $4,203,935.82. The trade was a 9.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura H. Bethge sold 7,854 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $326.21, for a total transaction of $2,562,053.34. Following the completion of the transaction, the insider 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 disclosure for this sale is available in the SEC filing. Insiders have sold 1,967,319 shares of company stock worth $626,681,935 in the last 90 days. Insiders own 6.95% of the company’s stock.

Royal Caribbean Cruises Trading Down 7.0%

RCL opened at $266.36 on Friday. 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. The stock has a market cap of $72.06 billion, a PE ratio of 17.06, a PEG ratio of 0.93 and a beta of 1.87. The business has a 50 day moving average of $304.37 and a 200-day moving average of $301.07.

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

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

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Friday, March 6th will be paid a dividend of $1.50 per share. 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 2.3%. The ex-dividend date of this dividend is Friday, March 6th. Royal Caribbean Cruises’s payout ratio is 38.44%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley upped their target price on Royal Caribbean Cruises from $290.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $380.00 price target on shares of Royal Caribbean Cruises in a report on Friday, January 30th. Bank of America upped their price objective on shares of Royal Caribbean Cruises from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Truist Financial dropped 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, Mizuho set a $379.00 target price on shares of Royal Caribbean Cruises in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $348.29.

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.