Royal Caribbean Cruises Ltd. $RCL Shares Sold by M&G PLC

Key Points

• M&G PLC reduced its Royal Caribbean stake by 2.0% in the third quarter, selling 3,653 shares and retaining 174,736 shares valued at about $46.5 million. Institutional investors and hedge funds collectively own 87.53% of the stock.
• Royal Caribbean reported quarterly EPS of $6.57, above analyst expectations of $6.38, while revenue of $5.59 billion fell slightly short of forecasts. Revenue grew 8.8% year over year.
• Insiders sold 250,400 shares worth about $82.3 million during the quarter. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $355.62.

M&G PLC decreased its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 174,736 shares of the company's stock after selling 3,653 shares during the quarter. M&G PLC owned 0.07% of Royal Caribbean Cruises worth $46,480,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Kestra Investment Management LLC lifted its stake in Royal Caribbean Cruises by 29.4% in the 3rd quarter. Kestra Investment Management LLC now owns 1,302 shares of the company's stock worth $346,000 after purchasing an additional 296 shares in the last quarter. AlphaCore Capital LLC grew its position in shares of Royal Caribbean Cruises by 47.2% in the 3rd quarter. AlphaCore Capital LLC now owns 4,196 shares of the company's stock valued at $1,119,000 after buying an additional 1,346 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Royal Caribbean Cruises by 71.2% in the 3rd quarter. Retirement Systems of Alabama now owns 303,838 shares of the company's stock valued at $80,778,000 after acquiring an additional 126,360 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Royal Caribbean Cruises by 2.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,036 shares of the company's stock worth $3,520,000 after purchasing an additional 302 shares during the period. Finally, University of Texas Texas AM Investment Management Co. raised its position in Royal Caribbean Cruises by 88.8% in the third quarter. University of Texas Texas AM Investment Management Co. now owns 336 shares of the company's stock worth $89,000 after acquiring an additional 158 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Royal Caribbean Cruises news, Director Maritza Montiel sold 400 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $307.21, for a total transaction of $122,884.00. Following the transaction, the director owned 13,202 shares in the company, valued at $4,055,786.42. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arne Wilhelmsen sold 220,000 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $329.29, for a total value of $72,443,800.00. Following the completion of the transaction, the director directly owned 16,215,910 shares of the company's stock, valued at $5,339,737,003.90. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 250,400 shares of company stock worth $82,263,584. 6.44% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Stock Up 3.1%

Shares of RCL opened at $337.18 on Tuesday. The business's fifty day moving average price is $276.38 and its two-hundred day moving average price is $288.17. Royal Caribbean Cruises Ltd. has a 52 week low of $222.22 and a 52 week high of $356.39. The firm has a market capitalization of $90.19 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.16 and a beta of 1.88. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.19 and a current ratio of 0.22.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its earnings results on Tuesday, October 27th. The company reported $6.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.38 by $0.19. The firm had revenue of $5.59 billion for the quarter, compared to analysts' expectations of $5.61 billion. Royal Caribbean Cruises had a return on equity of 43.40% and a net margin of 23.78%. The company's revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $5.75 earnings per share. On average, analysts predict that Royal Caribbean Cruises Ltd. will post 17.94 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, September 17th. Royal Caribbean Cruises's payout ratio is 35.52%.

Wall Street Analysts Forecast Growth

RCL has been the topic of a number of analyst reports. Loop Capital increased their price objective on Royal Caribbean Cruises from $304.00 to $327.00 in a research note on Wednesday, July 29th. Jefferies Financial Group set a $350.00 price objective on shares of Royal Caribbean Cruises and gave the company a "buy" rating in a research report on Wednesday, October 28th. TD Cowen increased their price objective on Royal Caribbean Cruises from $337.00 to $340.00 and gave the stock a "buy" rating in a report on Tuesday, October 20th. Wells Fargo & Company upped their price target on Royal Caribbean Cruises from $358.00 to $361.00 and gave the company an "overweight" rating in a report on Wednesday, October 28th. Finally, Susquehanna raised their price target on shares of Royal Caribbean Cruises from $355.00 to $360.00 and gave the stock a "positive" rating in a report on Wednesday, October 28th. Twenty-one analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $355.62.

Royal Caribbean Cruises Profile

Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a global cruise vacation company. Its brands include Royal Caribbean International, Celebrity Cruises and Silversea Cruises, which offer voyages ranging from large-ship family vacations to premium and luxury experiences.

The company serves travelers through itineraries to destinations around the world, including the Caribbean, Europe, Alaska and Asia. Its vacation offerings combine onboard accommodations, dining and entertainment with shore excursions and visits to ports and private destinations.

Founded in 1968, the company is headquartered in Miami, Florida.

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