Royal Caribbean Cruises Ltd. (NYSE:RCL) Position Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,573 shares of the company’s stock after acquiring an additional 2,687 shares during the quarter. CIBC Asset Management Inc’s holdings in Royal Caribbean Cruises were worth $6,309,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Plato Investment Management Ltd purchased a new position in Royal Caribbean Cruises during the 3rd quarter valued at about $26,000. Unique Wealth Strategies LLC purchased a new position in Royal Caribbean Cruises during the 2nd quarter valued at about $27,000. Versant Capital Management Inc grew its stake in Royal Caribbean Cruises by 905.3% during the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after acquiring an additional 172 shares in the last quarter. DiNuzzo Private Wealth Inc. grew its stake in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after acquiring an additional 121 shares in the last quarter. Finally, AlphaMark Advisors LLC grew its stake in Royal Caribbean Cruises by 233.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the business’s 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 transaction, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The trade was a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard D. Fain sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total value 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. This trade represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,796 shares of company stock valued at $7,170,759. 7.95% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RCL has been the subject of several research reports. Stifel Nicolaus lifted their price target on Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a report on Friday, October 11th. Tigress Financial boosted their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Morgan Stanley boosted their target price on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Mizuho boosted their target price on Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Barclays boosted their target price on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $220.00.

Royal Caribbean Cruises Stock Performance

RCL opened at $231.49 on Monday. 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 current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises Ltd. has a 1 year low of $101.04 and a 1 year high of $238.10. The stock’s 50 day simple moving average is $193.66 and its 200-day simple moving average is $168.33.

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

Royal Caribbean Cruises Company 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.