Allspring Global Investments Holdings LLC Sells 85,316 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Allspring Global Investments Holdings LLC decreased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 32.7% during the second quarter, HoldingsChannel.com reports. The firm owned 175,577 shares of the company’s stock after selling 85,316 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Royal Caribbean Cruises were worth $27,992,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Royal Caribbean Cruises in the fourth quarter worth about $323,251,000. Eagle Asset Management Inc. bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $79,392,000. Vaughan Nelson Investment Management L.P. purchased a new position in Royal Caribbean Cruises in the 1st quarter worth approximately $66,279,000. Junto Capital Management LP bought a new position in Royal Caribbean Cruises in the 4th quarter valued at approximately $47,950,000. Finally, Vanguard Group Inc. boosted its stake in Royal Caribbean Cruises by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 25,277,193 shares of the company’s stock valued at $3,273,144,000 after purchasing an additional 359,770 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Bank of America boosted their price target on Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Argus raised their price target on shares of Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Mizuho lifted their price target on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Citigroup increased their price objective on shares of Royal Caribbean Cruises from $165.00 to $204.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Wells Fargo & Company lifted their target price on shares of Royal Caribbean Cruises from $159.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $182.13.

Insider Buying and Selling 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 in the company, valued at $27,576,853.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Richard D. Fain sold 19,584 shares of the 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 transaction, 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 can be accessed through the SEC website. Also, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the transaction, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Trading Up 4.3 %

Shares of NYSE:RCL opened at $169.02 on Wednesday. Royal Caribbean Cruises Ltd. has a 12-month low of $78.35 and a 12-month high of $173.37. The business’s fifty day simple moving average is $157.78 and its 200-day simple moving average is $143.56. The company has a market capitalization of $43.50 billion, a PE ratio of 21.78, a P/E/G ratio of 0.44 and a beta of 2.62. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Thursday, July 25th. The company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. Royal Caribbean Cruises’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.82 earnings per share. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 11.63 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The business also recently announced a — dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be paid a $0.40 dividend. The ex-dividend date is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 20.62%.

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.