Forsta AP Fonden Grows Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Forsta AP Fonden increased its stake in Royal Caribbean Cruises Ltd. by 2.1% in Q1, now holding 67,800 shares valued at approximately $13.9 million.
• Wall Street analysts show a range of ratings and price objectives for RCL shares, with a consensus target of $323.10 reflecting optimism despite lower price targets from some firms.
• Insider trading activity includes Director Richard D. Fain selling 16,000 shares at an average price of $311.02, indicating a decrease in ownership by approximately 9.62%.

Forsta AP Fonden grew its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 2.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,800 shares of the company's stock after purchasing an additional 1,400 shares during the quarter. Forsta AP Fonden's holdings in Royal Caribbean Cruises were worth $13,929,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Revisor Wealth Management LLC bought a new position in Royal Caribbean Cruises in the 1st quarter worth $1,525,000. Brown Miller Wealth Management LLC bought a new position in Royal Caribbean Cruises in the 1st quarter worth $266,000. Florida Financial Advisors LLC raised its holdings in Royal Caribbean Cruises by 87.6% in the 1st quarter. Florida Financial Advisors LLC now owns 1,957 shares of the company's stock worth $402,000 after purchasing an additional 914 shares in the last quarter. Vanguard Group Inc. raised its holdings in Royal Caribbean Cruises by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company's stock worth $5,890,943,000 after purchasing an additional 602,447 shares in the last quarter. Finally, Western Financial Corp CA raised its holdings in Royal Caribbean Cruises by 25.0% in the 1st quarter. Western Financial Corp CA now owns 8,615 shares of the company's stock worth $1,770,000 after purchasing an additional 1,725 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Insider Transactions at Royal Caribbean Cruises

In related news, CAO Henry L. Pujol sold 5,207 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $329.47, for a total value of $1,715,550.29. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard D. Fain sold 16,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $311.02, for a total transaction of $4,976,320.00. Following the completion of the sale, the director directly owned 150,291 shares of the company's stock, valued at approximately $46,743,506.82. This trade represents a 9.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,807 shares of company stock valued at $11,652,630. 6.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RCL has been the subject of several research reports. Citigroup increased their price target on shares of Royal Caribbean Cruises from $390.00 to $399.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Northcoast Research initiated coverage on shares of Royal Caribbean Cruises in a research note on Friday, April 25th. They issued a "buy" rating and a $279.00 price target for the company. TD Cowen initiated coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, July 22nd. They issued a "buy" rating and a $405.00 price target for the company. Bank of America increased their price target 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, Jefferies Financial Group increased 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. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $323.10.

Royal Caribbean Cruises Trading Up 3.4%

Shares of NYSE RCL traded up $10.41 during mid-day trading on Tuesday, reaching $313.27. The company had a trading volume of 2,192,184 shares, compared to its average volume of 2,543,466. The business's 50-day moving average is $309.32 and its 200-day moving average is $257.03. 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 stock has a market cap of $85.09 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 0.85 and a beta of 2.22. Royal Caribbean Cruises Ltd. has a 52 week low of $150.33 and a 52 week high of $355.91.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $4.38 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $4.54 billion. During the same period in the prior year, the business posted $3.21 earnings per share. The business's revenue for the quarter was up 10.4% on a year-over-year basis. Equities analysts expect 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.