AE Wealth Management LLC decreased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report) by 6.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,663 shares of the company’s stock after selling 2,726 shares during the quarter. AE Wealth Management LLC’s holdings in Royal Caribbean Cruises were worth $4,322,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Royal Caribbean Cruises by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 23,355,449 shares of the company’s stock worth $1,956,721,000 after purchasing an additional 314,385 shares during the period. Geode Capital Management LLC raised its position in Royal Caribbean Cruises by 2.4% in the first quarter. Geode Capital Management LLC now owns 4,521,734 shares of the company’s stock worth $294,589,000 after acquiring an additional 105,705 shares during the period. Capital World Investors boosted its stake 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 during the last quarter. Norges Bank bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $100,326,000. Finally, Charles Schwab Investment Management Inc. grew 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 valued at $89,951,000 after acquiring an additional 54,172 shares during the period. 75.64% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Royal Caribbean Cruises
In related news, CFO Naftali Holtz sold 5,949 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $110.62, for a total transaction of $658,078.38. Following the completion of the transaction, the chief financial officer now directly owns 30,967 shares of the company’s stock, valued at $3,425,569.54. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Naftali Holtz sold 5,949 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $110.62, for a total transaction of $658,078.38. Following the completion of the transaction, the chief financial officer now directly owns 30,967 shares of the company’s stock, valued at $3,425,569.54. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Henry L. Pujol sold 18,908 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $106.74, for a total value of $2,018,239.92. Following the transaction, the chief accounting officer now directly owns 23,521 shares of the company’s stock, valued at $2,510,631.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,857 shares of company stock valued at $4,650,818. Insiders own 8.70% of the company’s stock.
Royal Caribbean Cruises Stock Performance
Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The company reported $1.82 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 company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same period in the prior year, the company earned ($2.08) earnings per share. The firm’s revenue was up 61.3% on a year-over-year basis. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 6.16 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts recently weighed in on RCL shares. JPMorgan Chase & Co. lifted their target price on Royal Caribbean Cruises from $100.00 to $103.00 in a research report on Monday, June 12th. Susquehanna boosted their price target on Royal Caribbean Cruises from $85.00 to $127.00 and gave the company a “positive” rating in a report on Friday, July 28th. Argus boosted their price target on Royal Caribbean Cruises from $88.00 to $92.00 in a report on Wednesday, May 31st. Truist Financial raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and boosted their price target for the company from $115.00 to $137.00 in a report on Tuesday. Finally, Barclays boosted their price target on Royal Caribbean Cruises from $113.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $112.38.
Check Out Our Latest Stock Analysis on RCL
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 13, 2023, it operated 64 ships. The company was founded in 1968 and is headquartered in Miami, Florida.
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