Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 187,849 shares of the company's stock after selling 4,032 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Royal Caribbean Cruises worth $38,592,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Amalgamated Bank boosted its position in shares of Royal Caribbean Cruises by 2.0% in the 1st quarter. Amalgamated Bank now owns 48,971 shares of the company's stock worth $10,061,000 after buying an additional 941 shares in the last quarter. KBC Group NV raised its position in Royal Caribbean Cruises by 8.7% during the first quarter. KBC Group NV now owns 105,033 shares of the company's stock worth $21,578,000 after acquiring an additional 8,426 shares during the last quarter. Sovran Advisors LLC raised its position in Royal Caribbean Cruises by 15.5% during the first quarter. Sovran Advisors LLC now owns 1,987 shares of the company's stock worth $383,000 after acquiring an additional 266 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Royal Caribbean Cruises by 4.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 595,895 shares of the company's stock valued at $122,421,000 after purchasing an additional 26,005 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Royal Caribbean Cruises by 140.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 310,175 shares of the company's stock valued at $64,554,000 after purchasing an additional 180,989 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RCL. Truist Financial lifted their price objective on Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Citigroup increased their target price on Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Sanford C. Bernstein raised their price target on Royal Caribbean Cruises from $290.00 to $360.00 and gave the stock an "outperform" rating in a research report on Wednesday. BNP Paribas initiated coverage on Royal Caribbean Cruises in a research report on Thursday, March 27th. They issued an "outperform" rating and a $262.00 price objective on the stock. Finally, Susquehanna decreased their price objective on Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating on the stock in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and an average price target of $280.40.

Royal Caribbean Cruises Trading Up 2.5%

RCL traded up $8.00 during midday trading on Friday, hitting $334.10. The company's stock had a trading volume of 1,440,459 shares, compared to its average volume of 2,353,855. Royal Caribbean Cruises Ltd. has a 52-week low of $130.08 and a 52-week high of $334.48. The firm has a 50-day moving average price of $258.64 and a two-hundred day moving average price of $238.25. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21. The firm has a market cap of $90.73 billion, a P/E ratio of 27.75, a PEG ratio of 0.99 and a beta of 2.17.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the firm earned $1.77 earnings per share. Royal Caribbean Cruises's revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.90%. Royal Caribbean Cruises's payout ratio is 24.92%.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the completion of the sale, the director owned 165,421 shares of the company's stock, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.95% of the company's stock.

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.