Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Bought by Truist Financial Corp

Truist Financial Corp grew its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 10.6% during the fourth quarter, Holdings Channel reports. The firm owned 17,344 shares of the company’s stock after acquiring an additional 1,656 shares during the quarter. Truist Financial Corp’s holdings in Royal Caribbean Cruises were worth $2,246,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new position in Royal Caribbean Cruises during the fourth quarter worth $26,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $33,000. Hanseatic Management Services Inc. purchased a new stake in shares of Royal Caribbean Cruises during the third quarter worth $36,000. West Branch Capital LLC increased its position in shares of Royal Caribbean Cruises by 50.0% during the fourth quarter. West Branch Capital LLC now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Royal Caribbean Cruises by 367.2% during the fourth quarter. Blue Trust Inc. now owns 313 shares of the company’s stock worth $41,000 after acquiring an additional 246 shares during the period. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock opened at $141.67 on Thursday. The stock’s 50-day moving average is $133.15 and its two-hundred day moving average is $120.60. The firm has a market cap of $36.46 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 0.41 and a beta of 2.49. Royal Caribbean Cruises Ltd. has a 1 year low of $73.93 and a 1 year high of $143.93. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.16 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.44. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. Analysts predict that Royal Caribbean Cruises Ltd. will post 11.15 earnings per share for the current year.

Insider Transactions at Royal Caribbean Cruises

In other news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the completion of the sale, the chief executive officer now owns 166,537 shares in the company, valued at $19,319,957.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Henry L. Pujol sold 9,944 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the completion of the sale, the chief accounting officer now directly owns 16,687 shares in the company, valued at approximately $2,356,705.01. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the sale, the chief executive officer now owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,697 shares of company stock worth $9,749,357. Company insiders own 7.95% of the company’s stock.

Analysts Set New Price Targets

RCL has been the topic of a number of recent research reports. Macquarie upped their price objective on Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Susquehanna upped their price objective on Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a “positive” rating in a research report on Friday, April 26th. Stifel Nicolaus upped their price objective on Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Bank of America upped their price objective on Royal Caribbean Cruises from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Barclays increased their target price on Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and an average target price of $146.13.

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.