Allspring Global Investments Holdings LLC Acquires 223,323 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Allspring Global Investments Holdings LLC increased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1,188.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,113 shares of the company’s stock after purchasing an additional 223,323 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Royal Caribbean Cruises were worth $31,351,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. West Branch Capital LLC boosted its holdings in Royal Caribbean Cruises by 50.0% in the fourth quarter. West Branch Capital LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Royal Caribbean Cruises by 14.3% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 919 shares of the company’s stock worth $119,000 after purchasing an additional 115 shares in the last quarter. ST Germain D J Co. Inc. boosted its holdings in Royal Caribbean Cruises by 65.0% in the third quarter. ST Germain D J Co. Inc. now owns 330 shares of the company’s stock worth $30,000 after purchasing an additional 130 shares in the last quarter. Everhart Financial Group Inc. boosted its holdings in Royal Caribbean Cruises by 2.7% in the third quarter. Everhart Financial Group Inc. now owns 5,009 shares of the company’s stock worth $462,000 after purchasing an additional 133 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Royal Caribbean Cruises by 1.5% in the fourth quarter. Quantinno Capital Management LP now owns 8,977 shares of the company’s stock worth $444,000 after purchasing an additional 136 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus upped their price target 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. Morgan Stanley upped their price target on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Macquarie upped their price objective on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. UBS Group upped their price objective on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Barclays upped their price objective on shares of Royal Caribbean Cruises from $150.00 to $154.00 and gave the company an “overweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.25.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $127.67 on Friday. Royal Caribbean Cruises Ltd. has a 12-month low of $59.37 and a 12-month high of $141.70. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 4.03. The firm has a market capitalization of $32.77 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 0.48 and a beta of 2.52. The firm has a 50-day moving average price of $127.42 and a 200 day moving average price of $114.57.

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

Insider Transactions at Royal Caribbean Cruises

In other news, CEO Michael W. Bayley sold 11,753 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 8.70% of the company’s stock.

About Royal Caribbean Cruises

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.