Teachers Retirement System of The State of Kentucky Sells 21,961 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Teachers Retirement System of The State of Kentucky decreased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 12.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 151,163 shares of the company's stock after selling 21,961 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.06% of Royal Caribbean Cruises worth $26,810,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RCL. FSM Wealth Advisors LLC grew its stake in shares of Royal Caribbean Cruises by 3.2% during the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company's stock worth $290,000 after buying an additional 51 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Royal Caribbean Cruises by 20.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 353 shares of the company's stock valued at $63,000 after acquiring an additional 61 shares in the last quarter. Venture Visionary Partners LLC grew its position in Royal Caribbean Cruises by 4.8% during the 3rd quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company's stock worth $242,000 after acquiring an additional 62 shares during the last quarter. Empower Advisory Group LLC increased its holdings in Royal Caribbean Cruises by 3.7% in the 3rd quarter. Empower Advisory Group LLC now owns 1,755 shares of the company's stock worth $311,000 after purchasing an additional 63 shares in the last quarter. Finally, Continuum Advisory LLC raised its position in Royal Caribbean Cruises by 10.3% in the third quarter. Continuum Advisory LLC now owns 705 shares of the company's stock valued at $125,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company's stock.

Wall Street Analysts Forecast Growth

RCL has been the topic of several research reports. Macquarie boosted their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Royal Caribbean Cruises from a "sell" rating to a "hold" rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their price target on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Stifel Nicolaus boosted their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Finally, Citigroup raised their target price on Royal Caribbean Cruises from $257.00 to $283.00 and gave the stock a "buy" rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $237.13.

Royal Caribbean Cruises Trading Down 0.1 %

Shares of RCL stock traded down $0.14 during trading hours on Wednesday, hitting $245.52. 1,978,873 shares of the company were exchanged, compared to its average volume of 2,327,077. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. Royal Caribbean Cruises Ltd. has a fifty-two week low of $113.10 and a fifty-two week high of $258.70. The company has a 50 day simple moving average of $218.22 and a two-hundred day simple moving average of $180.34. The firm has a market cap of $66.01 billion, a P/E ratio of 25.32, a P/E/G ratio of 0.68 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $4.89 billion during the quarter, compared to analysts' expectations of $4.89 billion. During the same period last year, the company posted $3.85 earnings per share. The business's quarterly revenue was up 17.5% on a year-over-year basis. Equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. Royal Caribbean Cruises's dividend payout ratio (DPR) is currently 16.44%.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 25,000 shares of the firm's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total value of $5,250,500.00. Following the transaction, the director now directly owns 204,521 shares of the company's stock, valued at approximately $42,953,500.42. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Henry L. Pujol sold 6,723 shares of the business's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the sale, the chief accounting officer now directly owns 9,964 shares of the company's stock, valued at approximately $2,077,593.64. The trade was a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 404,332 shares of company stock worth $94,299,521. Corporate insiders own 7.95% 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.