Norges Bank Makes New $323.25 Million Investment in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Norges Bank purchased a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,496,336 shares of the company's stock, valued at approximately $323,251,000. Norges Bank owned 0.97% of Royal Caribbean Cruises at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. BKM Wealth Management LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter valued at approximately $26,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter valued at approximately $33,000. Hanseatic Management Services Inc. purchased a new stake in Royal Caribbean Cruises in the 3rd quarter valued at approximately $36,000. West Branch Capital LLC lifted its stake in Royal Caribbean Cruises by 50.0% in the 4th quarter. West Branch Capital LLC now owns 300 shares of the company's stock valued at $39,000 after buying an additional 100 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Royal Caribbean Cruises by 367.2% in the 4th quarter. Blue Trust Inc. now owns 313 shares of the company's stock valued at $41,000 after buying an additional 246 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RCL. Susquehanna upped their target price on Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a "positive" rating in a research note on Friday, April 26th. The Goldman Sachs Group reissued a "buy" rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Barclays increased their price target on Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an "overweight" rating in a research note on Friday, April 26th. Mizuho increased their price target on Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, April 26th. Finally, Stifel Nicolaus increased their price target on Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a "buy" rating in a research note on Thursday, February 22nd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $147.38.

Insider Activity at Royal Caribbean Cruises

In other news, CAO Henry L. Pujol sold 9,944 shares of the firm's stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the completion of the sale, the chief accounting officer now directly owns 16,687 shares in the company, valued at $2,356,705.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Jason T. Liberty sold 50,000 shares of the firm's stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 153,017 shares in the company, valued at $21,365,763.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Henry L. Pujol sold 9,944 shares of the firm's stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total value of $1,404,391.12. Following the sale, the chief accounting officer now owns 16,687 shares of the company's stock, valued at $2,356,705.01. The disclosure for this sale can be found here. In the last three months, insiders sold 84,145 shares of company stock worth $11,779,113. Corporate insiders own 7.95% of the company's stock.

Royal Caribbean Cruises Stock Up 2.1 %

NYSE RCL traded up $3.05 during trading hours on Tuesday, hitting $150.75. The company had a trading volume of 2,437,645 shares, compared to its average volume of 2,715,506. Royal Caribbean Cruises Ltd. has a fifty-two week low of $76.31 and a fifty-two week high of $150.90. The company has a market capitalization of $38.80 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 0.43 and a beta of 2.49. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16. The firm's 50 day moving average is $136.18 and its 200 day moving average is $124.28.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.44. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the firm earned ($0.23) EPS. The firm's quarterly revenue was up 29.2% compared to the same quarter last year. Sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.09 earnings per share for the current fiscal year.

Royal Caribbean Cruises 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.