Canada Pension Plan Investment Board Decreases Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Canada Pension Plan Investment Board trimmed its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 95.2% during the first quarter, HoldingsChannel reports. The fund owned 172,959 shares of the company’s stock after selling 3,430,709 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Royal Caribbean Cruises were worth $24,043,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of RCL. Kowal Investment Group LLC lifted its position in shares of Royal Caribbean Cruises by 4.0% in the first quarter. Kowal Investment Group LLC now owns 2,286 shares of the company’s stock worth $318,000 after purchasing an additional 87 shares in the last quarter. Pitcairn Co. raised its holdings in shares of Royal Caribbean Cruises by 3.8% in the first quarter. Pitcairn Co. now owns 2,376 shares of the company’s stock valued at $330,000 after buying an additional 88 shares during the last quarter. West Branch Capital LLC raised its holdings 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. Toth Financial Advisory Corp grew its position in shares of Royal Caribbean Cruises by 24.6% during the 4th quarter. Toth Financial Advisory Corp now owns 506 shares of the company’s stock worth $66,000 after buying an additional 100 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Royal Caribbean Cruises by 11.6% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,026 shares of the company’s stock valued at $143,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Up 1.0 %

Royal Caribbean Cruises stock traded up $1.54 during mid-day trading on Friday, reaching $153.56. 3,435,885 shares of the company were exchanged, compared to its average volume of 2,122,771. Royal Caribbean Cruises Ltd. has a 12-month low of $78.35 and a 12-month high of $173.37. The business has a fifty day moving average of $156.33 and a 200 day moving average of $138.84. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.16 and a current ratio of 0.19. The firm has a market cap of $39.52 billion, a P/E ratio of 19.79, a PEG ratio of 0.45 and a beta of 2.62.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.45. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the firm earned $1.82 EPS. Research analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.4 earnings per share for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company also recently declared a — dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, September 20th.

Wall Street Analysts Forecast Growth

RCL has been the topic of a number of analyst reports. Bank of America upped their price objective on Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday. Susquehanna increased their target price on Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a “positive” rating in a research report on Friday, April 26th. Mizuho raised their price objective on Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group lifted their target price on Royal Caribbean Cruises from $154.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Finally, Citigroup raised their price objective on Royal Caribbean Cruises from $165.00 to $204.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $172.25.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the completion of the sale, the director now directly owns 179,117 shares of the company’s stock, valued at approximately $27,576,853.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Richard D. Fain sold 19,584 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $153.96, for a total value of $3,015,152.64. Following the completion of the sale, the director now directly owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Henry L. Pujol sold 9,944 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the transaction, the chief accounting officer now owns 16,687 shares in the company, valued at $2,356,705.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,884 shares of company stock worth $15,071,485. Insiders own 7.95% 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.