CIBC Asset Management Inc Sells 1,318 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

CIBC Asset Management Inc lessened its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCLFree Report) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,318 shares of the company’s stock after selling 1,318 shares during the quarter. CIBC Asset Management Inc’s holdings in Royal Caribbean Cruises were worth $4,185,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RCL. NBC Securities Inc. acquired a new position in Royal Caribbean Cruises in the third quarter valued at approximately $55,000. Victory Capital Management Inc. grew its stake in shares of Royal Caribbean Cruises by 17.9% during the third quarter. Victory Capital Management Inc. now owns 81,698 shares of the company’s stock worth $7,528,000 after purchasing an additional 12,394 shares during the period. Kestra Private Wealth Services LLC increased its holdings in Royal Caribbean Cruises by 19.2% in the third quarter. Kestra Private Wealth Services LLC now owns 3,571 shares of the company’s stock valued at $329,000 after purchasing an additional 574 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Royal Caribbean Cruises by 9.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 9,868 shares of the company’s stock valued at $909,000 after buying an additional 833 shares during the period. Finally, Amalgamated Bank boosted its holdings in Royal Caribbean Cruises by 9.0% during the third quarter. Amalgamated Bank now owns 63,337 shares of the company’s stock worth $5,836,000 after buying an additional 5,208 shares during the last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

NYSE:RCL opened at $156.33 on Thursday. The stock has a market capitalization of $40.23 billion, a PE ratio of 20.15, a P/E/G ratio of 0.47 and a beta of 2.56. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54. The firm has a fifty day simple moving average of $140.17 and a 200 day simple moving average of $128.49. Royal Caribbean Cruises Ltd. has a 1-year low of $78.35 and a 1-year high of $156.93.

Royal Caribbean Cruises (NYSE:RCLGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.77 earnings per share (EPS) 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 firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the business posted ($0.23) earnings per share. The business’s revenue for the quarter was up 29.2% compared to the same quarter last year. On average, research analysts expect that Royal Caribbean Cruises Ltd. will post 11.08 EPS for the current fiscal year.

Insider Activity at Royal Caribbean Cruises

In other news, CEO Michael W. Bayley sold 24,201 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $140.21, for a total transaction of $3,393,222.21. Following the completion of the sale, the chief executive officer now owns 98,850 shares of the company’s stock, valued at $13,859,758.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael W. Bayley sold 24,201 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $140.21, for a total transaction of $3,393,222.21. Following the transaction, the chief executive officer now directly owns 98,850 shares of the company’s stock, valued at $13,859,758.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason T. Liberty sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the sale, the chief executive officer now owns 153,017 shares of the company’s stock, valued at $21,365,763.71. The disclosure for this sale can be found here. Insiders sold 133,300 shares of company stock worth $19,037,832 in the last ninety days. 7.95% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on RCL shares. Macquarie lifted their price objective on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. UBS Group increased their price target on Royal Caribbean Cruises from $154.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Bank of America boosted their price objective on Royal Caribbean Cruises from $135.00 to $145.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Stifel Nicolaus raised their target price on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.81.

View Our Latest Analysis on RCL

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 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.

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Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

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