Todd Asset Management LLC Cuts Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Todd Asset Management LLC reduced its stake in Royal Caribbean Cruises Ltd. by 16.0%, holding 113,264 shares valued at approximately $23.27 million after selling 21,513 shares in the first quarter.
• Royal Caribbean Cruises reported a 10.4% year-over-year revenue increase to $4.54 billion and earnings per share of $4.38, exceeding analyst expectations by $0.34.
• Despite recent insider sales, the stock has maintained a majority ownership of 87.53% by hedge funds and institutional investors, with a consensus rating of 'Moderate Buy' among analysts.

Todd Asset Management LLC lowered its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 16.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,264 shares of the company's stock after selling 21,513 shares during the period. Todd Asset Management LLC's holdings in Royal Caribbean Cruises were worth $23,269,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RCL. Nuveen LLC acquired a new position in Royal Caribbean Cruises during the first quarter worth $358,614,000. GAMMA Investing LLC grew its holdings in Royal Caribbean Cruises by 22,154.9% during the first quarter. GAMMA Investing LLC now owns 1,410,962 shares of the company's stock worth $289,868,000 after acquiring an additional 1,404,622 shares during the period. Janus Henderson Group PLC grew its holdings in Royal Caribbean Cruises by 3,544.4% during the fourth quarter. Janus Henderson Group PLC now owns 963,034 shares of the company's stock worth $222,166,000 after acquiring an additional 936,609 shares during the period. Vanguard Group Inc. grew its holdings in Royal Caribbean Cruises by 2.1% during the first quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company's stock worth $5,890,943,000 after acquiring an additional 602,447 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Royal Caribbean Cruises by 21.8% during the first quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company's stock worth $614,487,000 after acquiring an additional 535,043 shares during the period. Institutional investors and hedge funds own 87.53% of the company's stock.

Insider Activity

In related news, CAO Henry L. Pujol sold 5,207 shares of the 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 transaction, the chief accounting officer directly owned 7,826 shares in the company, valued at approximately $2,578,432.22. This represents a 39.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard D. Fain sold 19,600 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the transaction, the director owned 165,421 shares in the company, valued at $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,807 shares of company stock worth $11,652,630 over the last quarter. 6.95% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RCL. William Blair reaffirmed an "outperform" rating on shares of Royal Caribbean Cruises in a report on Wednesday, July 23rd. Truist Financial set a $337.00 price objective on Royal Caribbean Cruises in a report on Wednesday, July 30th. Bank of America upped their price objective on Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Susquehanna reissued a "positive" rating and issued a $385.00 target price (up previously from $275.00) on shares of Royal Caribbean Cruises in a report on Wednesday, July 30th. Finally, Stifel Nicolaus upped their target price on Royal Caribbean Cruises from $400.00 to $420.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $323.10.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL traded up $0.36 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 current ratio of 0.23, a quick ratio of 0.21 and a debt-to-equity ratio of 1.88. Royal Caribbean Cruises Ltd. has a 52-week low of $150.33 and a 52-week high of $355.91. The business has a 50 day moving average of $311.20 and a 200 day moving average of $257.81. The company has a market cap of $85.14 billion, a PE ratio of 23.50, a PEG ratio of 0.88 and a beta of 2.22.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.34. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the business earned $3.21 earnings per share. The business's revenue was up 10.4% on a year-over-year basis. As a group, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Company 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.