Nuveen LLC Buys New Shares in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Nuveen LLC has acquired a significant stake in Royal Caribbean Cruises, purchasing 1,745,592 shares valued at approximately $358.6 million, reflecting a 0.64% ownership of the company.
• Multiple institutional investors are increasing their positions in Royal Caribbean Cruises, which now has 87.53% of its stock owned by institutions, with significant stakes held by Capital International and Vanguard Group.
• Royal Caribbean Cruises recently reported quarterly earnings of $4.38 EPS, exceeding estimates and marking a 10.4% year-over-year revenue growth, with total revenue of $4.54 billion.

Nuveen LLC acquired a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,745,592 shares of the company's stock, valued at approximately $358,614,000. Nuveen LLC owned approximately 0.64% of Royal Caribbean Cruises at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Ostrum Asset Management boosted its stake in shares of Royal Caribbean Cruises by 0.3% during the fourth quarter. Ostrum Asset Management now owns 11,610 shares of the company's stock valued at $2,678,000 after purchasing an additional 40 shares in the last quarter. CWM LLC lifted its stake in shares of Royal Caribbean Cruises by 0.4% during the first quarter. CWM LLC now owns 12,816 shares of the company's stock worth $2,633,000 after buying an additional 45 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Royal Caribbean Cruises by 3.4% during the first quarter. Proficio Capital Partners LLC now owns 1,352 shares of the company's stock worth $278,000 after buying an additional 45 shares during the period. Forum Financial Management LP lifted its stake in shares of Royal Caribbean Cruises by 1.5% during the first quarter. Forum Financial Management LP now owns 3,055 shares of the company's stock worth $628,000 after buying an additional 46 shares during the period. Finally, Accredited Investors Inc. lifted its stake in shares of Royal Caribbean Cruises by 2.1% during the first quarter. Accredited Investors Inc. now owns 2,229 shares of the company's stock worth $458,000 after buying an additional 46 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RCL. UBS Group set a $353.00 price objective on shares of Royal Caribbean Cruises and gave the company a "buy" rating in a report on Friday, August 8th. Morgan Stanley boosted their target price on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Northcoast Research assumed coverage on shares of Royal Caribbean Cruises in a research note on Friday, April 25th. They set a "buy" rating and a $279.00 target price for the company. Bank of America boosted their target price on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, The Goldman Sachs Group cut their target price on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $323.10.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 5,207 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $329.47, for a total transaction of $1,715,550.29. Following the completion of the transaction, the chief accounting officer owned 7,826 shares in the company, valued at approximately $2,578,432.22. The trade was a 39.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises 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 transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,807 shares of company stock valued at $11,652,630. 6.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL traded up $0.36 during midday trading on Wednesday, hitting $313.44. The company had a trading volume of 1,900,690 shares, compared to its average volume of 2,145,314. The company has a quick ratio of 0.21, a current ratio of 0.23 and a debt-to-equity ratio of 1.88. Royal Caribbean Cruises Ltd. has a twelve month low of $150.33 and a twelve month high of $355.91. The business has a 50-day simple moving average of $310.25 and a two-hundred day simple moving average of $257.43. The firm has a market capitalization of $85.14 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 0.88 and a beta of 2.22.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter last year, the business earned $3.21 earnings per share. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current 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.