Desjardins Global Asset Management Inc. Cuts Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Desjardins Global Asset Management Inc. cut its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 12.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,074 shares of the company’s stock after selling 154 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Royal Caribbean Cruises were worth $139,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bison Wealth LLC purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth approximately $231,000. Lecap Asset Management Ltd. purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth approximately $558,000. Louisiana State Employees Retirement System purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth approximately $1,852,000. Simplicity Solutions LLC increased its stake in Royal Caribbean Cruises by 0.9% in the fourth quarter. Simplicity Solutions LLC now owns 22,961 shares of the company’s stock valued at $2,973,000 after purchasing an additional 197 shares during the last quarter. Finally, NewEdge Wealth LLC purchased a new position in Royal Caribbean Cruises in the fourth quarter valued at approximately $1,286,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RCL has been the topic of several recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Macquarie increased their price objective on Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Barclays increased their price objective on Royal Caribbean Cruises from $150.00 to $154.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. UBS Group increased their price objective on Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Morgan Stanley increased their price objective on Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $136.94.

Insider Buying and Selling

In related news, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 13th. The stock was 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 in the company, valued at approximately $19,319,957.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.70% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Trading Up 1.2 %

Shares of RCL stock opened at $129.21 on Friday. Royal Caribbean Cruises Ltd. has a fifty-two week low of $59.37 and a fifty-two week high of $141.70. The stock has a market cap of $33.17 billion, a P/E ratio of 20.77, a P/E/G ratio of 0.46 and a beta of 2.52. The business has a fifty day simple moving average of $128.21 and a 200-day simple moving average of $115.81. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 4.03.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.12. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.36 billion. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. The firm’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the business posted ($1.12) EPS. On average, analysts forecast that Royal Caribbean Cruises Ltd. will post 10.01 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.