State Board of Administration of Florida Retirement System Grows Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

State Board of Administration of Florida Retirement System boosted its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 248,695 shares of the company’s stock after purchasing an additional 6,901 shares during the period. State Board of Administration of Florida Retirement System owned about 0.10% of Royal Caribbean Cruises worth $34,571,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new position in Royal Caribbean Cruises in the fourth quarter worth $26,000. Scarborough Advisors LLC bought a new position in Royal Caribbean Cruises in the fourth quarter worth approximately $26,000. Creekmur Asset Management LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $30,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter worth $33,000. Finally, West Branch Capital LLC raised its position in shares of Royal Caribbean Cruises by 50.0% during the fourth quarter. West Branch Capital LLC now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Institutional investors own 87.53% of the company’s stock.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,584 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the sale, the director now owns 179,117 shares in the company, valued at $27,576,853.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Michael W. Bayley sold 49,155 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $147.67, for a total value of $7,258,718.85. Following the transaction, the chief executive officer now directly owns 49,695 shares of the company’s stock, valued at $7,338,460.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard D. Fain sold 19,584 shares of the firm’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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,884 shares of company stock worth $22,052,985. 7.95% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RCL. Truist Financial lifted their target price on Royal Caribbean Cruises from $151.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Stifel Nicolaus raised their target price on shares of Royal Caribbean Cruises from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup boosted their price target on Royal Caribbean Cruises from $165.00 to $204.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. UBS Group raised their price objective 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, Argus upped their target price on Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $166.06.

Royal Caribbean Cruises Stock Up 1.7 %

Shares of RCL stock traded up $2.76 during mid-day trading on Friday, hitting $166.95. 440,945 shares of the stock traded hands, compared to its average volume of 2,486,954. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16. The stock has a market cap of $42.96 billion, a P/E ratio of 21.68, a P/E/G ratio of 0.50 and a beta of 2.62. The stock’s fifty day moving average is $153.74 and its two-hundred day moving average is $137.14. Royal Caribbean Cruises Ltd. has a 52-week low of $78.35 and a 52-week high of $172.64.

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

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.