Retirement Systems of Alabama Sells 68,765 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Retirement Systems of Alabama decreased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 26.7% during the fourth quarter, HoldingsChannel reports. The firm owned 188,813 shares of the company’s stock after selling 68,765 shares during the quarter. Retirement Systems of Alabama’s holdings in Royal Caribbean Cruises were worth $43,557,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of RCL. Plato Investment Management Ltd bought a new position in shares of Royal Caribbean Cruises in the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC bought a new position in shares of Royal Caribbean Cruises in the third quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. raised its position in shares of Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares during the period. LRI Investments LLC bought a new position in shares of Royal Caribbean Cruises in the third quarter valued at approximately $31,000. Finally, Bay Harbor Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $36,000. Institutional investors own 87.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Citigroup raised their price objective on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Tigress Financial raised their price objective on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Bank of America raised their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, UBS Group raised their price objective on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.59.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 230,000 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value of $53,732,600.00. Following the completion of the transaction, the director now directly owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the transaction, the executive vice president now directly owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 372,609 shares of company stock valued at $87,647,208. 7.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Stock Up 1.2 %

Shares of NYSE RCL opened at $263.87 on Wednesday. The stock has a market cap of $70.95 billion, a PE ratio of 24.68, a PEG ratio of 0.98 and a beta of 2.59. The business has a fifty day moving average of $240.77 and a two-hundred day moving average of $203.04. Royal Caribbean Cruises Ltd. has a 52-week low of $113.10 and a 52-week high of $277.08. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same quarter in the previous year, the firm earned $1.25 earnings per share. As a group, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.96 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.83%. Royal Caribbean Cruises’s payout ratio is presently 20.58%.

Royal Caribbean Cruises Company 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.