Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA cut its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,874,443 shares of the company’s stock after selling 126,822 shares during the period. Primecap Management Co. CA’s holdings in Royal Caribbean Cruises were worth $777,132,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Blair William & Co. IL grew its stake in shares of Royal Caribbean Cruises by 37.4% in the first quarter. Blair William & Co. IL now owns 102,133 shares of the company’s stock valued at $14,197,000 after buying an additional 27,819 shares in the last quarter. Keystone Financial Group acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at $209,000. Quadrant Capital Group LLC grew its stake in shares of Royal Caribbean Cruises by 19.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,788 shares of the company’s stock valued at $232,000 after buying an additional 285 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Royal Caribbean Cruises by 12.0% in the fourth quarter. Franklin Resources Inc. now owns 166,632 shares of the company’s stock valued at $21,577,000 after buying an additional 17,815 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Royal Caribbean Cruises by 17.2% in the second quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock valued at $6,156,000 after buying an additional 5,655 shares in the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial lifted their price objective on Royal Caribbean Cruises from $151.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Bank of America lifted their target price on Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Barclays lifted their target price on Royal Caribbean Cruises from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, July 26th. UBS Group lifted 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, July 31st. Finally, Susquehanna lifted their target price on Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $182.31.

Insider Activity

In other news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Naftali Holtz purchased 5,350 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the transaction, the chief financial officer now directly owns 48,256 shares in the company, valued at $6,755,840. The disclosure for this purchase can be found here. Company insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Stock Up 1.1 %

Shares of NYSE RCL opened at $169.78 on Tuesday. The company has a market capitalization of $43.69 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 0.47 and a beta of 2.61. 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 business has a 50-day moving average of $159.92 and a two-hundred day moving average of $148.27. Royal Caribbean Cruises Ltd. has a 1 year low of $78.35 and a 1 year high of $173.40.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the business earned $1.82 EPS. Royal Caribbean Cruises’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

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

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.