Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Purchased by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. increased its holdings in Royal Caribbean Cruises Ltd. by 334.4%, acquiring an additional 226,010 shares in the first quarter, bringing its total to 293,600 shares valued at approximately $60.3 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Royal Caribbean Cruises, with an average price target of $321.10, reflecting strong potential for stock growth.
• Royal Caribbean Cruises recently reported an earnings per share (EPS) of $4.38 for the last quarter, exceeding estimates and showing a 10.4% increase in revenue year-over-year.

PNC Financial Services Group Inc. lifted its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 334.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 293,600 shares of the company's stock after purchasing an additional 226,010 shares during the period. PNC Financial Services Group Inc. owned approximately 0.11% of Royal Caribbean Cruises worth $60,317,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Ostrum Asset Management increased its stake in Royal Caribbean Cruises by 0.3% in the 4th quarter. Ostrum Asset Management now owns 11,610 shares of the company's stock valued at $2,678,000 after buying an additional 40 shares during the period. CWM LLC increased its stake in Royal Caribbean Cruises by 0.4% in the 1st quarter. CWM LLC now owns 12,816 shares of the company's stock valued at $2,633,000 after buying an additional 45 shares during the period. Proficio Capital Partners LLC increased its stake in Royal Caribbean Cruises by 3.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,352 shares of the company's stock valued at $278,000 after buying an additional 45 shares during the period. Forum Financial Management LP increased its stake in Royal Caribbean Cruises by 1.5% in the 1st quarter. Forum Financial Management LP now owns 3,055 shares of the company's stock valued at $628,000 after buying an additional 46 shares during the period. Finally, Accredited Investors Inc. increased its stake in Royal Caribbean Cruises by 2.1% in the 1st quarter. Accredited Investors Inc. now owns 2,229 shares of the company's stock valued at $458,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 87.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RCL shares. Sanford C. Bernstein boosted their price objective on shares of Royal Caribbean Cruises from $290.00 to $360.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. TD Cowen started 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 objective on the stock. Melius Research raised shares of Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. 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. Finally, UBS Group set a $311.00 price objective on shares of Royal Caribbean Cruises and gave the company a "buy" rating in a research note on Tuesday, May 20th. Five equities research 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. According to data from MarketBeat, Royal Caribbean Cruises has an average rating of "Moderate Buy" and a consensus price target of $321.10.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock opened at $314.12 on Monday. Royal Caribbean Cruises Ltd. has a 52 week low of $130.08 and a 52 week 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 firm's 50-day simple moving average is $302.63 and its 200 day simple moving average is $254.09. The firm has a market capitalization of $85.32 billion, a PE ratio of 23.55, a P/E/G ratio of 0.88 and a beta of 2.22.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the firm earned $3.21 EPS. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.0%. Royal Caribbean Cruises's dividend payout ratio is presently 22.49%.

Insider Activity

In related news, CAO Henry L. Pujol sold 5,207 shares of the business'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 sale, the chief accounting officer directly owned 7,826 shares in the company, valued at $2,578,432.22. The trade was a 39.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 in the company, valued at $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.95% of the stock is owned by insiders.

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.

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