Primecap Management Co. CA Sells 190,300 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Primecap Management Co. CA decreased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,001,561 shares of the company's stock after selling 190,300 shares during the quarter. Primecap Management Co. CA owned approximately 2.34% of Royal Caribbean Cruises worth $777,142,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RCL. Allspring Global Investments Holdings LLC grew its stake in shares of Royal Caribbean Cruises by 11.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,790 shares of the company's stock worth $1,731,000 after purchasing an additional 1,904 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Royal Caribbean Cruises by 7.1% in the third quarter. Principal Financial Group Inc. now owns 274,931 shares of the company's stock worth $25,332,000 after purchasing an additional 18,255 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Royal Caribbean Cruises by 31.8% in the third quarter. EverSource Wealth Advisors LLC now owns 655 shares of the company's stock worth $60,000 after purchasing an additional 158 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Royal Caribbean Cruises in the third quarter worth $55,000. Finally, Ieq Capital LLC grew its stake in shares of Royal Caribbean Cruises by 3.4% in the third quarter. Ieq Capital LLC now owns 8,711 shares of the company's stock worth $803,000 after purchasing an additional 290 shares during the last quarter. Institutional investors own 87.53% of the company's stock.

Analysts Set New Price Targets

RCL has been the topic of several analyst reports. Stifel Nicolaus boosted their price objective on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a "buy" rating in a research note on Thursday, February 22nd. Macquarie boosted their target price on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an "outperform" rating in a report on Friday, March 15th. Mizuho boosted their target price on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a "buy" rating in a report on Friday, April 26th. Susquehanna boosted their target price on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a "positive" rating in a report on Friday, April 26th. Finally, Wells Fargo & Company boosted their target price on shares of Royal Caribbean Cruises from $159.00 to $165.00 and gave the company an "overweight" rating in a report on Friday, May 17th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $147.38.

Royal Caribbean Cruises Stock Up 1.4 %

Royal Caribbean Cruises stock traded up $2.12 during midday trading on Friday, reaching $148.43. The stock had a trading volume of 1,858,718 shares, compared to its average volume of 2,699,467. Royal Caribbean Cruises Ltd. has a 12 month low of $77.14 and a 12 month high of $150.90. The company has a market capitalization of $38.20 billion, a P/E ratio of 19.13, a PEG ratio of 0.44 and a beta of 2.49. The company has a fifty day moving average price of $137.65 and a two-hundred day moving average price of $125.41. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.44. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.69 billion. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The company's revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.23) EPS. As a group, equities analysts expect that Royal Caribbean Cruises Ltd. will post 11.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 9,944 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $2,356,705.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael W. Bayley sold 49,155 shares of the company's stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $147.67, for a total value of $7,258,718.85. Following the completion of the transaction, the chief executive officer now directly owns 49,695 shares of the company's stock, valued at $7,338,460.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Henry L. Pujol sold 9,944 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief accounting officer now directly 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 ninety days, insiders sold 133,300 shares of company stock valued at $19,037,832. Corporate insiders own 7.95% of the company's stock.

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.

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