BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 12.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,798 shares of the company's stock after selling 5,897 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Royal Caribbean Cruises were worth $7,236,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Plato Investment Management Ltd purchased a new stake in shares of Royal Caribbean Cruises during the third quarter valued at $26,000. DiNuzzo Private Wealth Inc. grew its stake in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company's stock valued at $30,000 after purchasing an additional 121 shares during the last quarter. Unique Wealth Strategies LLC acquired a new position in shares of Royal Caribbean Cruises in the second quarter valued at about $27,000. Versant Capital Management Inc raised its stake in shares of Royal Caribbean Cruises by 905.3% in the second quarter. Versant Capital Management Inc now owns 191 shares of the company's stock worth $30,000 after purchasing an additional 172 shares during the last quarter. Finally, AlphaMark Advisors LLC lifted its holdings in shares of Royal Caribbean Cruises by 233.3% during the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company's stock worth $32,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 87.53% of the company's stock.

Royal Caribbean Cruises Price Performance

NYSE:RCL traded up $2.35 during trading hours on Monday, reaching $246.41. 1,832,765 shares of the company were exchanged, compared to its average volume of 2,341,992. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The firm has a market cap of $66.25 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 0.64 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a twelve month low of $110.66 and a twelve month high of $249.52. The stock's 50-day moving average is $208.22 and its 200-day moving average is $175.28.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the firm earned $3.85 EPS. The company's revenue for the quarter was up 17.5% on a year-over-year basis. On average, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RCL. Morgan Stanley raised their price target on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 7th. StockNews.com raised shares of Royal Caribbean Cruises from a "sell" rating to a "hold" rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. upped their price target on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an "overweight" rating in a report on Tuesday, October 29th. Bank of America lifted their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a "neutral" rating in a research note on Wednesday, November 13th. Finally, Citigroup upped their target price on Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $228.63.

Insider Activity

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $237.89, for a total value of $33,150,685.17. Following the completion of the sale, the director now directly owns 18,167,507 shares in the company, valued at $4,321,868,240.23. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of the firm's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the transaction, the executive vice president now directly owns 22,348 shares in the company, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 404,332 shares of company stock worth $94,299,521 over the last quarter. 7.95% of the stock is currently owned by corporate insiders.

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.