New York State Common Retirement Fund Cuts Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

New York State Common Retirement Fund reduced its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 48.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,692 shares of the company's stock after selling 115,428 shares during the quarter. New York State Common Retirement Fund's holdings in Royal Caribbean Cruises were worth $21,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of RCL. Reston Wealth Management LLC bought a new stake in Royal Caribbean Cruises in the 3rd quarter valued at $126,000. AustralianSuper Pty Ltd lifted its position in Royal Caribbean Cruises by 84.2% during the third quarter. AustralianSuper Pty Ltd now owns 5,735 shares of the company's stock valued at $1,017,000 after purchasing an additional 2,622 shares during the last quarter. Catalyst Financial Partners LLC purchased a new position in Royal Caribbean Cruises in the third quarter worth about $200,000. Pinnacle Associates Ltd. raised its holdings in Royal Caribbean Cruises by 0.9% during the 3rd quarter. Pinnacle Associates Ltd. now owns 353,175 shares of the company's stock valued at $62,639,000 after buying an additional 3,235 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its position in Royal Caribbean Cruises by 13.8% in the third quarter. First Trust Direct Indexing L.P. now owns 10,325 shares of the company's stock worth $1,831,000 after buying an additional 1,253 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the sale, the director now directly owns 25,837 shares in the company, valued at approximately $4,095,164.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the transaction, the director now directly owns 25,837 shares in the company, valued at approximately $4,095,164.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the completion of the sale, the chief accounting officer now owns 9,964 shares in the company, valued at $2,077,593.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,596 shares of company stock worth $8,090,059. 7.95% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. Bank of America upped their price objective on Royal Caribbean Cruises from $205.00 to $210.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their target price on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 7th. Citigroup raised their target price on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Barclays raised their price target on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $214.00.

Royal Caribbean Cruises Stock Performance

NYSE:RCL traded up $6.38 during midday trading on Tuesday, reaching $210.77. The stock had a trading volume of 1,434,786 shares, compared to its average volume of 2,390,752. Royal Caribbean Cruises Ltd. has a 12-month low of $89.75 and a 12-month high of $214.12. The stock has a market cap of $56.67 billion, a P/E ratio of 21.01, a P/E/G ratio of 0.53 and a beta of 2.59. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The firm has a fifty day simple moving average of $181.88 and a two-hundred day simple moving average of $162.54.

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