Kentucky Retirement Systems Insurance Trust Fund Decreases Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,012 shares of the company’s stock after selling 625 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Royal Caribbean Cruises were worth $1,244,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RCL. Wedge Capital Management L L P NC lifted its holdings in shares of Royal Caribbean Cruises by 2.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after acquiring an additional 7,298 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Royal Caribbean Cruises by 17.2% during the second quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock valued at $6,156,000 after purchasing an additional 5,655 shares during the period. Souders Financial Advisors bought a new stake in Royal Caribbean Cruises in the 3rd quarter worth $800,000. New Wave Wealth Advisors LLC bought a new position in Royal Caribbean Cruises during the 2nd quarter valued at approximately $611,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Royal Caribbean Cruises by 8.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,575 shares of the company’s stock valued at $6,310,000 after buying an additional 2,640 shares during the period. Institutional investors own 87.53% of the company’s stock.

Insider Activity

In other news, Director Richard D. Fain sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the transaction, the director now directly owns 204,521 shares in the company, valued at $42,953,500.42. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The trade was a 10.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,796 shares of company stock valued at $7,170,759. Insiders own 7.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price objective on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Truist Financial boosted their target price on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group boosted their target price on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Tigress Financial upped their price target on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $220.00.

Royal Caribbean Cruises Stock Down 0.7 %

Shares of NYSE RCL opened at $231.49 on Monday. Royal Caribbean Cruises Ltd. has a 12-month low of $101.04 and a 12-month high of $238.10. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The stock has a market cap of $62.24 billion, a PE ratio of 23.79, a P/E/G ratio of 0.61 and a beta of 2.59. The company has a 50-day moving average of $193.66 and a 200 day moving average of $168.33.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.85 earnings per share. As a group, sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 11.64 EPS for the current fiscal year.

Royal Caribbean Cruises Profile

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.