Kentucky Retirement Systems Has $2.93 Million Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Kentucky Retirement Systems lowered its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 7.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,499 shares of the company’s stock after selling 1,342 shares during the quarter. Kentucky Retirement Systems’ holdings in Royal Caribbean Cruises were worth $2,926,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RCL. Wedge Capital Management L L P NC lifted its holdings in shares of Royal Caribbean Cruises by 2.6% in the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock valued at $51,349,000 after purchasing an additional 7,298 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Royal Caribbean Cruises by 17.2% during the 2nd quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock valued at $6,156,000 after acquiring an additional 5,655 shares in the last quarter. Souders Financial Advisors purchased a new position in Royal Caribbean Cruises during the 3rd quarter worth $800,000. New Wave Wealth Advisors LLC bought a new stake in shares of Royal Caribbean Cruises in the 2nd quarter worth $611,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Royal Caribbean Cruises by 8.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,575 shares of the company’s stock valued at $6,310,000 after purchasing an additional 2,640 shares during the last quarter. Institutional investors own 87.53% of the company’s stock.

Insider Activity

In related news, Director Richard D. Fain sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 204,521 shares of the company’s stock, valued at $42,953,500.42. This 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 available at this link. Also, CAO Henry L. Pujol sold 6,723 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total value of $1,401,812.73. Following the sale, the chief accounting officer now directly owns 9,964 shares in the company, 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 three months, insiders have sold 34,796 shares of company stock valued at $7,170,759. Company insiders own 7.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RCL. Morgan Stanley upped their price objective on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Macquarie increased their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America raised their target price on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Tigress Financial boosted their price target on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.00.

Royal Caribbean Cruises Price Performance

NYSE:RCL opened at $231.49 on Monday. Royal Caribbean Cruises Ltd. has a 52-week low of $101.04 and a 52-week high of $238.10. The firm has a market capitalization of $62.24 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 0.61 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. The stock has a fifty day moving average of $193.66 and a 200 day moving average of $168.33.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. Royal Caribbean Cruises’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the company earned $3.85 EPS. On average, research analysts expect that Royal Caribbean Cruises Ltd. will post 11.64 EPS for the current fiscal year.

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.