Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 9.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 313,356 shares of the company’s stock after selling 33,281 shares during the quarter. New York State Common Retirement Fund’s holdings in Royal Caribbean Cruises were worth $40,576,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new stake in Royal Caribbean Cruises in the 4th quarter valued at $26,000. ST Germain D J Co. Inc. boosted its stake in Royal Caribbean Cruises by 65.0% during the 3rd quarter. ST Germain D J Co. Inc. now owns 330 shares of the company’s stock worth $30,000 after purchasing an additional 130 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in Royal Caribbean Cruises during the 4th quarter worth $33,000. Hanseatic Management Services Inc. acquired a new stake in Royal Caribbean Cruises during the 3rd quarter worth $36,000. Finally, West Branch Capital LLC boosted its stake in Royal Caribbean Cruises by 50.0% during the 4th quarter. West Branch Capital LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Macquarie boosted their price target on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. Morgan Stanley boosted their price target on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Wells Fargo & Company boosted their price target on shares of Royal Caribbean Cruises from $151.00 to $153.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. Finally, Stifel Nicolaus boosted their price target on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $136.94.

Royal Caribbean Cruises Price Performance

RCL stock opened at $136.68 on Thursday. The company has a market capitalization of $35.08 billion, a P/E ratio of 21.97, a PEG ratio of 0.50 and a beta of 2.52. Royal Caribbean Cruises Ltd. has a twelve month low of $59.37 and a twelve month high of $141.70. The business has a 50 day simple moving average of $129.31 and a 200-day simple moving average of $116.96. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 4.03.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.12. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.36 billion. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. The company’s revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.12) earnings per share. As a group, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 9.99 EPS for the current year.

Insider Activity

In other news, CEO Michael W. Bayley sold 11,753 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the completion of the sale, the chief executive officer now owns 166,537 shares in the company, valued at $19,319,957.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.70% of the company’s stock.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.