State of Michigan Retirement System Purchases 100 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

State of Michigan Retirement System lifted its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 0.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,601 shares of the company’s stock after purchasing an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Royal Caribbean Cruises were worth $8,980,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RCL. Norges Bank purchased a new position in Royal Caribbean Cruises during the fourth quarter valued at $323,251,000. Eagle Asset Management Inc. purchased a new position in Royal Caribbean Cruises during the fourth quarter valued at $79,392,000. Vanguard Group Inc. raised its stake in Royal Caribbean Cruises by 2.0% during the third quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock valued at $2,295,891,000 after buying an additional 487,327 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Royal Caribbean Cruises during the first quarter valued at $66,279,000. Finally, Junto Capital Management LP purchased a new position in Royal Caribbean Cruises during the fourth quarter valued at $47,950,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Analyst Upgrades and Downgrades

RCL has been the subject of a number of recent research reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Susquehanna boosted their price target on Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a “positive” rating in a research note on Friday, April 26th. UBS Group boosted their price target on Royal Caribbean Cruises from $154.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Barclays boosted their price target on Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company boosted their price target on Royal Caribbean Cruises from $159.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and an average price target of $161.13.

Royal Caribbean Cruises Stock Performance

NYSE:RCL traded up $0.14 during mid-day trading on Tuesday, hitting $156.61. 1,381,547 shares of the company traded hands, compared to its average volume of 2,547,604. The stock’s fifty day moving average price is $147.88 and its 200-day moving average price is $134.01. Royal Caribbean Cruises Ltd. has a one year low of $78.35 and a one year high of $162.50. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 3.54. The firm has a market cap of $40.30 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 0.48 and a beta of 2.62.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.44. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the company posted ($0.23) earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 29.2% on a year-over-year basis. Research analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.1 earnings per share for the current fiscal year.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,584 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $153.96, for a total value of $3,015,152.64. Following the completion of the transaction, the director now owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jason T. Liberty sold 50,000 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the transaction, the chief executive officer now owns 153,017 shares of the company’s stock, valued at $21,365,763.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 19,584 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $153.96, for a total value of $3,015,152.64. Following the completion of the transaction, the director now directly owns 179,117 shares of the company’s stock, valued at approximately $27,576,853.32. The disclosure for this sale can be found here. Insiders sold a total of 152,884 shares of company stock valued at $22,052,985 over the last 90 days. Company insiders own 7.95% of the company’s stock.

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.