HBK Sorce Advisory LLC Makes New $274,000 Investment in Royal Caribbean Cruises Ltd. (NYSE:RCL)

HBK Sorce Advisory LLC purchased a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,118 shares of the company’s stock, valued at approximately $274,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Royal Caribbean Cruises by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock worth $2,295,891,000 after buying an additional 487,327 shares in the last quarter. Geode Capital Management LLC lifted its position in Royal Caribbean Cruises by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 4,521,734 shares of the company’s stock worth $294,589,000 after buying an additional 105,705 shares in the last quarter. Capital World Investors lifted its position in Royal Caribbean Cruises by 1,314.9% during the 1st quarter. Capital World Investors now owns 2,759,035 shares of the company’s stock worth $231,152,000 after buying an additional 2,564,035 shares in the last quarter. Northern Trust Corp lifted its position in Royal Caribbean Cruises by 6.8% during the 3rd quarter. Northern Trust Corp now owns 2,335,667 shares of the company’s stock worth $215,208,000 after buying an additional 148,532 shares in the last quarter. Finally, Norges Bank bought a new stake in Royal Caribbean Cruises during the 4th quarter worth about $100,326,000. 87.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the transaction, the chief executive officer now owns 166,537 shares in the company, valued at approximately $19,319,957.37. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RCL. Stifel Nicolaus upped their target price on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Tigress Financial upped their target price on shares of Royal Caribbean Cruises from $139.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, December 21st. Susquehanna upped their target price on shares of Royal Caribbean Cruises from $120.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. UBS Group upped their target price on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Macquarie upped 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. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and an average price target of $135.25.

Royal Caribbean Cruises Stock Up 2.2 %

Shares of RCL opened at $133.76 on Friday. The firm’s 50-day simple moving average is $127.34 and its 200 day simple moving average is $114.31. Royal Caribbean Cruises Ltd. has a 52 week low of $59.37 and a 52 week high of $141.70. The firm has a market cap of $34.33 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 0.47 and a beta of 2.52. The company has a debt-to-equity ratio of 4.03, a quick ratio of 0.16 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.12. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the business posted ($1.12) EPS. The business’s revenue was up 28.0% compared to the same quarter last year. On average, analysts forecast that Royal Caribbean Cruises Ltd. will post 10.08 earnings per share for the current year.

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.