Harvest Portfolios Group Inc. Sells 4,356 Shares of Royal Caribbean Cruises Ltd. $RCL

Key Points

• Harvest Portfolios Group Inc. has reduced its stake in Royal Caribbean Cruises Ltd. by 12.1%, selling 4,356 shares and holding a total of 31,509 shares valued at approximately $6,473,000 as per their latest SEC filing.
• Several brokerages have upgraded their price targets for Royal Caribbean, with UBS Group setting a new target price of $353.00, reflecting increased investor confidence in the company's future performance.
• Insiders, including Director Richard D. Fain, have sold significant amounts of stock, with a total of 31,507 shares valued at over $10 million sold in the last three months, indicating a potential shift in insider sentiment.

Harvest Portfolios Group Inc. lessened its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 12.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,509 shares of the company's stock after selling 4,356 shares during the period. Harvest Portfolios Group Inc.'s holdings in Royal Caribbean Cruises were worth $6,473,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of RCL. Financial Gravity Asset Management Inc. bought a new stake in Royal Caribbean Cruises in the first quarter valued at approximately $25,000. Hughes Financial Services LLC bought a new stake in Royal Caribbean Cruises in the first quarter valued at approximately $26,000. Optimum Investment Advisors bought a new stake in Royal Caribbean Cruises in the first quarter valued at approximately $31,000. Fourth Dimension Wealth LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter valued at approximately $35,000. Finally, SouthState Corp bought a new stake in Royal Caribbean Cruises in the first quarter valued at approximately $39,000. Institutional investors own 87.53% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on RCL. UBS Group upped their target price on shares of Royal Caribbean Cruises from $311.00 to $353.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Truist Financial set a $337.00 price target on shares of Royal Caribbean Cruises in a report on Wednesday, July 30th. Sanford C. Bernstein upped their price target on shares of Royal Caribbean Cruises from $290.00 to $360.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. TD Cowen assumed coverage on shares of Royal Caribbean Cruises in a report on Tuesday, July 22nd. They issued a "buy" rating and a $405.00 price target for the company. Finally, Macquarie reduced their price target on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating for the company in a report on Friday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $327.14.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 16,000 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $311.02, for a total transaction of $4,976,320.00. Following the sale, the director directly owned 150,291 shares of the company's stock, valued at approximately $46,743,506.82. This represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Henry L. Pujol sold 5,207 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $329.47, for a total transaction of $1,715,550.29. Following the sale, the chief accounting officer directly owned 7,826 shares in the company, valued at $2,578,432.22. This trade represents a 39.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,507 shares of company stock valued at $10,091,282. 6.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Stock Performance

Shares of RCL opened at $344.5460 on Tuesday. The company has a current ratio of 0.23, a quick ratio of 0.21 and a debt-to-equity ratio of 1.88. The firm has a fifty day simple moving average of $320.77 and a 200 day simple moving average of $261.33. Royal Caribbean Cruises Ltd. has a 12 month low of $154.08 and a 12 month high of $355.91. The stock has a market capitalization of $93.59 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 0.97 and a beta of 2.22.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.34. Royal Caribbean Cruises had a net margin of 20.97% and a return on equity of 47.15%. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the firm posted $3.21 earnings per share. The company's quarterly revenue was up 10.4% compared to the same quarter last year. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. Research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

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.

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