California State Teachers Retirement System Cuts Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

California State Teachers Retirement System decreased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 371,988 shares of the company’s stock after selling 982 shares during the quarter. California State Teachers Retirement System owned 0.14% of Royal Caribbean Cruises worth $51,710,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RCL. Scarborough Advisors LLC purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $26,000. Creekmur Asset Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $30,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $33,000. Blue Trust Inc. increased its position in shares of Royal Caribbean Cruises by 367.2% during the fourth quarter. Blue Trust Inc. now owns 313 shares of the company’s stock worth $41,000 after acquiring an additional 246 shares during the period. Finally, Richardson Capital Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the first quarter worth $42,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Wall Street Analyst Weigh In

RCL has been the topic of a number of recent research reports. Argus upped their price objective on Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. UBS Group increased their target price on Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus increased their target price on Royal Caribbean Cruises from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday, July 19th. The Goldman Sachs Group increased their target price on Royal Caribbean Cruises from $170.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Mizuho increased their target price on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.25.

Insider Transactions at Royal Caribbean Cruises

In other news, CEO Michael W. Bayley sold 49,155 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $147.67, for a total transaction of $7,258,718.85. Following the completion of the transaction, the chief executive officer now directly owns 49,695 shares of the company’s stock, valued at approximately $7,338,460.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Michael W. Bayley sold 49,155 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $147.67, for a total transaction of $7,258,718.85. Following the sale, the chief executive officer now owns 49,695 shares in the company, valued at $7,338,460.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael W. Bayley sold 24,201 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $140.21, for a total transaction of $3,393,222.21. Following the sale, the chief executive officer now owns 98,850 shares in the company, valued at approximately $13,859,758.50. The disclosure for this sale can be found here. Insiders sold a total of 92,940 shares of company stock valued at $13,667,094 in the last ninety days. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock traded down $2.74 during mid-day trading on Thursday, reaching $153.98. The company had a trading volume of 247,114 shares, compared to its average volume of 2,516,475. Royal Caribbean Cruises Ltd. has a 1 year low of $78.35 and a 1 year high of $173.37. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. The company has a market capitalization of $39.63 billion, a P/E ratio of 20.20, a P/E/G ratio of 0.44 and a beta of 2.62. The stock’s 50-day simple moving average is $156.79 and its 200-day simple moving average is $139.65.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the company posted $1.82 earnings per share. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities analysts predict that Royal Caribbean Cruises Ltd. will post 11.6 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

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

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.