Louisiana State Employees Retirement System Decreases Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Louisiana State Employees Retirement System lowered its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,400 shares of the company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Royal Caribbean Cruises were worth $2,136,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Versant Capital Management Inc lifted its stake in shares of Royal Caribbean Cruises by 905.3% in the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after buying an additional 172 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $26,000. AlphaMark Advisors LLC increased its holdings in shares of Royal Caribbean Cruises by 233.3% in the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $30,000. Finally, Richardson Capital Management LLC acquired a new stake in Royal Caribbean Cruises during the first quarter worth about $42,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now owns 25,837 shares in the company, valued at approximately $4,095,164.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now directly owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Naftali Holtz acquired 5,350 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the completion of the purchase, the chief financial officer now owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. The disclosure for this purchase can be found here. Insiders own 7.95% of the company’s stock.

Analysts Set New Price Targets

RCL has been the subject of several analyst reports. Barclays increased their price target on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Truist Financial lifted their target price on Royal Caribbean Cruises from $151.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. UBS Group upped their price target on Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Susquehanna raised their price objective on Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Tuesday, July 30th. Finally, Macquarie boosted their price target on shares of Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus price target of $182.13.

Royal Caribbean Cruises Stock Up 2.4 %

Shares of RCL traded up $3.85 during midday trading on Friday, hitting $161.74. The company had a trading volume of 764,624 shares, compared to its average volume of 2,568,309. Royal Caribbean Cruises Ltd. has a 1 year low of $78.35 and a 1 year high of $173.37. The firm has a market capitalization of $41.62 billion, a P/E ratio of 20.47, a P/E/G ratio of 0.44 and a beta of 2.62. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19. The company’s 50-day simple moving average is $157.23 and its 200-day simple moving average is $142.66.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.21 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the business posted $1.82 EPS. The firm’s revenue was up 16.4% on a year-over-year basis. As a group, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 11.63 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

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

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.