Texas Permanent School Fund Corp Grows Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Posted by Defense World Staff on Jul 27th, 2023

Texas Permanent School Fund Corp increased its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report) by 46.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,657 shares of the company’s stock after purchasing an additional 14,579 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Royal Caribbean Cruises were worth $2,981,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in RCL. Quantinno Capital Management LP lifted its stake in shares of Royal Caribbean Cruises by 1.5% in the fourth quarter. Quantinno Capital Management LP now owns 8,977 shares of the company’s stock worth $444,000 after buying an additional 136 shares in the last quarter. Sentry Investment Management LLC boosted its holdings in shares of Royal Caribbean Cruises by 10.5% during the 4th quarter. Sentry Investment Management LLC now owns 1,484 shares of the company’s stock worth $73,000 after purchasing an additional 141 shares during the last quarter. Texas Permanent School Fund grew its position in shares of Royal Caribbean Cruises by 0.5% in the fourth quarter. Texas Permanent School Fund now owns 31,078 shares of the company’s stock valued at $1,536,000 after purchasing an additional 158 shares in the last quarter. Czech National Bank lifted its position in Royal Caribbean Cruises by 0.7% during the first quarter. Czech National Bank now owns 25,855 shares of the company’s stock worth $1,688,000 after buying an additional 167 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Royal Caribbean Cruises by 42.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 613 shares of the company’s stock worth $40,000 after buying an additional 182 shares during the last quarter. 71.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Royal Caribbean Cruises

In other news, Director Arne Alexander Wilhelmsen sold 375,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $80.74, for a total value of $30,277,500.00. Following the completion of the sale, the director now owns 20,689,632 shares in the company, valued at approximately $1,670,480,887.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 375,000 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $80.74, for a total value of $30,277,500.00. Following the sale, the director now owns 20,689,632 shares of the company’s stock, valued at $1,670,480,887.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason T. Liberty sold 36,536 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total transaction of $2,922,880.00. Following the transaction, the chief executive officer now owns 147,078 shares of the company’s stock, valued at $11,766,240. The disclosure for this sale can be found here. Insiders have sold a total of 729,861 shares of company stock worth $58,020,180 in the last three months. Insiders own 8.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RCL. Truist Financial lifted their price target on Royal Caribbean Cruises from $72.00 to $115.00 and gave the stock a “hold” rating in a report on Tuesday, July 18th. Barclays boosted their target price on shares of Royal Caribbean Cruises from $100.00 to $113.00 in a report on Tuesday, July 18th. Tigress Financial raised their price target on shares of Royal Caribbean Cruises from $80.00 to $102.00 in a report on Friday, May 26th. William Blair reiterated an “outperform” rating on shares of Royal Caribbean Cruises in a report on Thursday, May 4th. Finally, Susquehanna raised their target price on Royal Caribbean Cruises from $80.00 to $85.00 in a research note on Friday, May 5th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and a consensus price target of $93.00.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock opened at $100.88 on Thursday. The firm has a market capitalization of $25.80 billion, a P/E ratio of -24.79 and a beta of 2.47. The company has a quick ratio of 0.23, a current ratio of 0.26 and a debt-to-equity ratio of 6.41. Royal Caribbean Cruises Ltd. has a 52 week low of $33.53 and a 52 week high of $105.21. The firm’s 50 day moving average is $93.10 and its two-hundred day moving average is $75.96.

Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last posted its earnings results on Thursday, May 4th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.48. Royal Caribbean Cruises had a negative return on equity of 25.86% and a negative net margin of 9.72%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the business earned ($4.57) EPS. The business’s quarterly revenue was up 172.4% on a year-over-year basis. Research analysts forecast that Royal Caribbean Cruises Ltd. will post 4.73 EPS for the current fiscal year.

Royal Caribbean Cruises Profile

(Free Report)

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 13, 2023, it operated 64 ships. The company was founded in 1968 and is headquartered in Miami, Florida.