Glenmede Trust Co. NA Raises Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Glenmede Trust Co. NA lifted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.8% during the 3rd quarter, Holdings Channel reports. The fund owned 6,080 shares of the company’s stock after buying an additional 110 shares during the quarter. Glenmede Trust Co. NA’s holdings in Royal Caribbean Cruises were worth $1,078,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of RCL. Bridgewater Associates LP acquired a new position in Royal Caribbean Cruises in the 3rd quarter valued at about $4,779,000. Avestar Capital LLC raised its position in shares of Royal Caribbean Cruises by 4.8% during the 3rd quarter. Avestar Capital LLC now owns 1,881 shares of the company’s stock valued at $334,000 after buying an additional 86 shares during the period. Brooklyn Investment Group lifted its holdings in Royal Caribbean Cruises by 5.0% in the third quarter. Brooklyn Investment Group now owns 2,065 shares of the company’s stock valued at $366,000 after acquiring an additional 99 shares during the last quarter. Wiser Advisor Group LLC grew its position in Royal Caribbean Cruises by 7.3% in the third quarter. Wiser Advisor Group LLC now owns 1,274 shares of the company’s stock worth $226,000 after acquiring an additional 87 shares during the period. Finally, Horizon Kinetics Asset Management LLC raised its position in Royal Caribbean Cruises by 3.0% in the third quarter. Horizon Kinetics Asset Management LLC now owns 57,881 shares of the company’s stock valued at $10,266,000 after purchasing an additional 1,709 shares during the period. Institutional investors and hedge funds own 87.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RCL shares. Truist Financial increased their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday. The Goldman Sachs Group increased their target price on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citigroup upped their price objective on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley boosted their target price on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $228.63.

Royal Caribbean Cruises Stock Up 1.0 %

RCL stock opened at $246.41 on Tuesday. The company’s 50 day moving average price is $208.22 and its 200 day moving average price is $175.28. The firm has a market capitalization of $66.25 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 0.64 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a fifty-two week low of $110.66 and a fifty-two week high of $249.52. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 16.21% and a return on equity of 52.92%. The company’s revenue was up 17.5% on a year-over-year basis. During the same period last year, the business earned $3.85 EPS. On average, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the completion of the sale, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. The trade was a 1.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the transaction, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 404,332 shares of company stock valued at $94,299,521 in the last ninety days. Insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises 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.