Sumitomo Mitsui Trust Group Inc. Sells 19,565 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 551,022 shares of the company’s stock after selling 19,565 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Royal Caribbean Cruises worth $97,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Unique Wealth Strategies LLC bought a new stake in shares of Royal Caribbean Cruises during the second quarter valued at about $27,000. Versant Capital Management Inc increased its position in shares of Royal Caribbean Cruises by 905.3% during the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after buying an additional 172 shares during the period. DiNuzzo Private Wealth Inc. increased its position in shares of Royal Caribbean Cruises by 257.4% during the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after buying an additional 121 shares during the period. AlphaMark Advisors LLC increased its position in shares of Royal Caribbean Cruises by 233.3% during the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after buying an additional 140 shares during the period. Finally, Meeder Asset Management Inc. increased its position in shares of Royal Caribbean Cruises by 50.3% during the second quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after buying an additional 78 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Stock Down 1.3 %

Shares of RCL opened at $234.25 on Thursday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The firm has a market cap of $62.99 billion, a P/E ratio of 24.08, a P/E/G ratio of 0.63 and a beta of 2.59. The stock has a 50 day simple moving average of $189.16 and a two-hundred day simple moving average of $166.37. Royal Caribbean Cruises Ltd. has a 1 year low of $100.50 and a 1 year high of $238.10.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.85 earnings per share. On average, analysts forecast that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RCL. Wells Fargo & Company upped their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Mizuho boosted their price objective on Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Bank of America boosted their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday. Susquehanna boosted their price objective on Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $220.00.

Insider Activity at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Royal Caribbean Cruises news, Director Richard D. Fain sold 25,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the transaction, the director now owns 204,521 shares in the company, valued at approximately $42,953,500.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction on 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 transaction, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,796 shares of company stock worth $7,170,759 over the last quarter. 7.95% of the stock is owned by corporate insiders.

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.