Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Royal Caribbean Cruises by 15.5%, now holding 447,611 shares worth approximately $91.96 million.
• Royal Caribbean Cruises has received multiple positive price target adjustments from analysts, with targets ranging from $290 to $385, indicating strong bullish sentiment.
• Despite the recent movement, Royal Caribbean stock is down 1.4% recently, with a current trading price around $309.59 and a year-high of $355.91.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 15.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 447,611 shares of the company's stock after purchasing an additional 60,174 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Royal Caribbean Cruises worth $91,957,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. bought a new position in shares of Royal Caribbean Cruises during the first quarter valued at about $25,000. Hughes Financial Services LLC bought a new stake in shares of Royal Caribbean Cruises in the 1st quarter worth approximately $26,000. Fourth Dimension Wealth LLC bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $35,000. Optimum Investment Advisors bought a new stake in shares of Royal Caribbean Cruises in the 1st quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC purchased a new position in Royal Caribbean Cruises in the 4th quarter worth approximately $40,000. 87.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RCL shares. Citigroup boosted their price objective on shares of Royal Caribbean Cruises from $390.00 to $399.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wall Street Zen cut shares of Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Jefferies Financial Group boosted their price target on shares of Royal Caribbean Cruises from $235.00 to $315.00 and gave the stock a "hold" rating in a research note on Monday, July 7th. Sanford C. Bernstein upped their target price on shares of Royal Caribbean Cruises from $290.00 to $360.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Northcoast Research assumed coverage on shares of Royal Caribbean Cruises in a research report on Friday, April 25th. They set a "buy" rating and a $279.00 target price on the stock. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises presently has an average rating of "Moderate Buy" and a consensus price target of $323.10.

Royal Caribbean Cruises Stock Up 2.1%

RCL stock traded up $6.50 during trading on Tuesday, hitting $309.36. 808,977 shares of the company's stock traded hands, compared to its average volume of 2,534,090. The firm has a market capitalization of $84.03 billion, a P/E ratio of 23.18, a PEG ratio of 0.85 and a beta of 2.22. Royal Caribbean Cruises Ltd. has a 1 year low of $150.33 and a 1 year high of $355.91. The company has a quick ratio of 0.21, a current ratio of 0.23 and a debt-to-equity ratio of 1.88. The business has a fifty day simple moving average of $309.32 and a two-hundred day simple moving average of $257.03.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 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 business had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the firm posted $3.21 earnings per share. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. Sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction on Monday, May 19th. The shares were sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Henry L. Pujol sold 5,207 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $2,578,432.22. This represents a 39.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,807 shares of company stock valued at $11,652,630. 6.95% of the stock is currently owned by corporate insiders.

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.