Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 57.7% during the 4th quarter, Holdings Channel reports. The firm owned 30,906 shares of the company’s stock after buying an additional 11,307 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Royal Caribbean Cruises were worth $4,002,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RCL. Vanguard Group Inc. lifted its position in shares of Royal Caribbean Cruises by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock valued at $2,295,891,000 after buying an additional 487,327 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in Royal Caribbean Cruises by 476.1% during the third quarter. Jupiter Asset Management Ltd. now owns 470,816 shares of the company’s stock valued at $43,381,000 after purchasing an additional 389,095 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Royal Caribbean Cruises by 484.7% in the third quarter. Retirement Systems of Alabama now owns 292,289 shares of the company’s stock valued at $26,932,000 after purchasing an additional 242,302 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Royal Caribbean Cruises by 1,188.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 242,113 shares of the company’s stock worth $31,351,000 after purchasing an additional 223,323 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth about $25,487,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RCL has been the subject of several research reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Mizuho started coverage on Royal Caribbean Cruises in a research report on Wednesday, April 17th. They set a “buy” rating and a $164.00 price target for the company. Susquehanna raised their price objective on Royal Caribbean Cruises from $120.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Stifel Nicolaus upped their target price on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, Wells Fargo & Company raised their price target on shares of Royal Caribbean Cruises from $151.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.94.

Royal Caribbean Cruises Trading Up 2.2 %

NYSE RCL opened at $132.04 on Tuesday. The company has a debt-to-equity ratio of 4.03, a current ratio of 0.19 and a quick ratio of 0.16. The stock has a market capitalization of $33.89 billion, a P/E ratio of 21.23, a PEG ratio of 0.47 and a beta of 2.52. The firm’s 50-day moving average is $128.51 and its two-hundred day moving average is $116.50. Royal Caribbean Cruises Ltd. has a 12 month low of $59.37 and a 12 month high of $141.70.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.25 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the business posted ($1.12) EPS. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 10.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total value of $1,363,465.53. Following the completion of the sale, the chief executive officer now directly owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.70% of the stock is owned by insiders.

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.