Free Trial

State of New Jersey Common Pension Fund D Trims Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Royal Caribbean Cruises logo with Consumer Discretionary background

Key Points

  • The State of New Jersey Common Pension Fund D reduced its stake in Royal Caribbean Cruises Ltd. by 3.4%, holding 87,051 shares valued at approximately $17.88 million.
  • Royal Caribbean Cruises reported earnings of $4.38 per share, surpassing analysts' expectations of $4.04, with quarterly revenue rising 10.4% year-over-year to $4.54 billion.
  • Analysts have varying outlooks on Royal Caribbean's stock, with price targets ranging from $245.00 to $420.00, reflecting a consensus average rating of "Moderate Buy."
  • Looking to export and analyze Royal Caribbean Cruises data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

State of New Jersey Common Pension Fund D lessened its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,051 shares of the company's stock after selling 3,044 shares during the period. State of New Jersey Common Pension Fund D's holdings in Royal Caribbean Cruises were worth $17,884,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Ostrum Asset Management raised its holdings in shares of Royal Caribbean Cruises by 0.3% during the 4th quarter. Ostrum Asset Management now owns 11,610 shares of the company's stock worth $2,678,000 after acquiring an additional 40 shares during the period. CWM LLC raised its holdings in shares of Royal Caribbean Cruises by 0.4% during the 1st quarter. CWM LLC now owns 12,816 shares of the company's stock worth $2,633,000 after acquiring an additional 45 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of Royal Caribbean Cruises by 3.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,352 shares of the company's stock worth $278,000 after acquiring an additional 45 shares during the period. Forum Financial Management LP raised its holdings in shares of Royal Caribbean Cruises by 1.5% during the 1st quarter. Forum Financial Management LP now owns 3,055 shares of the company's stock worth $628,000 after acquiring an additional 46 shares during the period. Finally, Accredited Investors Inc. raised its holdings in shares of Royal Caribbean Cruises by 2.1% during the 1st quarter. Accredited Investors Inc. now owns 2,229 shares of the company's stock worth $458,000 after acquiring an additional 46 shares during the period. Hedge funds and other institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Stock Up 0.4%

RCL stock opened at $313.54 on Friday. The company's 50 day moving average price is $312.76 and its 200 day moving average price is $258.67. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.21 and a current ratio of 0.23. Royal Caribbean Cruises Ltd. has a fifty-two week low of $154.08 and a fifty-two week high of $355.91. The firm has a market capitalization of $85.17 billion, a price-to-earnings 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 released its earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share 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 analyst estimates of $4.54 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. The business's quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RCL. Bank of America lifted their price target on Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Sanford C. Bernstein raised their price objective on Royal Caribbean Cruises from $290.00 to $360.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. UBS Group set a $353.00 price objective on Royal Caribbean Cruises and gave the stock a "buy" rating in a research report on Friday, August 8th. Stifel Nicolaus raised their price objective on Royal Caribbean Cruises from $400.00 to $420.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group cut their price objective on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $323.10.

Read Our Latest Analysis on RCL

Insider Buying and Selling

In related news, Director Richard D. Fain sold 16,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $311.02, for a total value of $4,976,320.00. Following the completion of the transaction, the director directly owned 150,291 shares of the company's stock, valued at $46,743,506.82. This represents a 9.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Henry L. Pujol sold 5,207 shares of the company's stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 7,826 shares of the company's stock, valued at $2,578,432.22. This trade represents a 39.95% 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 90 days. Insiders own 6.95% of the company's stock.

Royal Caribbean Cruises Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report).

Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Royal Caribbean Cruises Right Now?

Before you consider Royal Caribbean Cruises, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Royal Caribbean Cruises wasn't on the list.

While Royal Caribbean Cruises currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Options Trading Made Easy - Download Now Cover

Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Palantir’s Soaring Valuation—Justified or Overhyped?
3 Stocks With Explosive Upside
September Slowdown: 3 Stocks to Buy When the Pullback Comes

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines