Commonwealth Equity Services LLC Lowers Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Posted by Defense World Staff on Aug 29th, 2023

Commonwealth Equity Services LLC decreased its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report) by 10.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,380 shares of the company’s stock after selling 19,287 shares during the period. Commonwealth Equity Services LLC owned about 0.06% of Royal Caribbean Cruises worth $10,538,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Royal Caribbean Cruises by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 23,355,449 shares of the company’s stock worth $1,956,721,000 after acquiring an additional 314,385 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Royal Caribbean Cruises by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 4,416,029 shares of the company’s stock worth $217,880,000 after acquiring an additional 97,232 shares in the last quarter. Capital World Investors raised its position in shares of Royal Caribbean Cruises by 1,314.9% during the 1st quarter. Capital World Investors now owns 2,759,035 shares of the company’s stock worth $231,152,000 after acquiring an additional 2,564,035 shares in the last quarter. Norges Bank acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $100,326,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Royal Caribbean Cruises by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,819,774 shares of the company’s stock worth $89,951,000 after acquiring an additional 54,172 shares in the last quarter. Institutional investors and hedge funds own 75.64% of the company’s stock.

Royal Caribbean Cruises Stock Performance

RCL stock opened at $98.32 on Tuesday. The stock has a 50-day moving average price of $101.90 and a two-hundred day moving average price of $82.77. Royal Caribbean Cruises Ltd. has a 12-month low of $36.92 and a 12-month high of $112.95. The company has a debt-to-equity ratio of 5.28, a current ratio of 0.20 and a quick ratio of 0.18.

Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.24. Royal Caribbean Cruises had a positive return on equity of 6.76% and a negative net margin of 0.47%. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter in the previous year, the business earned ($2.08) earnings per share. The firm’s quarterly revenue was up 61.3% compared to the same quarter last year. Sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 6.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on RCL. Tigress Financial raised their price target on Royal Caribbean Cruises from $102.00 to $139.00 in a research note on Tuesday, August 15th. VNET Group restated a “maintains” rating on shares of Royal Caribbean Cruises in a research note on Monday, June 12th. Deutsche Bank Aktiengesellschaft raised their price target on Royal Caribbean Cruises from $65.00 to $71.00 in a research note on Friday, May 5th. Morgan Stanley raised their price target on Royal Caribbean Cruises from $70.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. Finally, Barclays lifted their target price on Royal Caribbean Cruises from $113.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.92.

View Our Latest Stock Report on Royal Caribbean Cruises

Insider Transactions at Royal Caribbean Cruises

In other news, CFO Naftali Holtz sold 5,949 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $110.62, for a total value of $658,078.38. Following the completion of the sale, the chief financial officer now owns 30,967 shares of the company’s stock, valued at $3,425,569.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Naftali Holtz sold 5,949 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $110.62, for a total value of $658,078.38. Following the completion of the sale, the chief financial officer now owns 30,967 shares of the company’s stock, valued at $3,425,569.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Maritza Gomez Montiel purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average price of $103.70 per share, for a total transaction of $103,700.00. Following the purchase, the director now owns 13,592 shares of the company’s stock, valued at approximately $1,409,490.40. The disclosure for this purchase can be found here. Company insiders own 8.70% of the company’s stock.

About Royal Caribbean Cruises

(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.