State of Michigan Retirement System Has $8.35 Million Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

State of Michigan Retirement System reduced its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCLFree Report) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,501 shares of the company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Royal Caribbean Cruises were worth $8,352,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Royal Caribbean Cruises by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock worth $2,295,891,000 after acquiring an additional 487,327 shares during the period. Geode Capital Management LLC boosted its position in shares of Royal Caribbean Cruises by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 4,521,734 shares of the company’s stock worth $294,589,000 after purchasing an additional 105,705 shares in the last quarter. Capital World Investors boosted its position in shares of Royal Caribbean Cruises by 1,314.9% during the 1st quarter. Capital World Investors now owns 2,759,035 shares of the company’s stock worth $231,152,000 after purchasing an additional 2,564,035 shares in the last quarter. Northern Trust Corp boosted its position in shares of Royal Caribbean Cruises by 6.8% during the 3rd quarter. Northern Trust Corp now owns 2,335,667 shares of the company’s stock worth $215,208,000 after purchasing an additional 148,532 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Royal Caribbean Cruises during the 4th quarter worth about $100,326,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock opened at $138.57 on Thursday. Royal Caribbean Cruises Ltd. has a 52 week low of $59.37 and a 52 week high of $141.62. The company’s 50 day moving average price is $126.12 and its two-hundred day moving average price is $112.62. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 4.03. The stock has a market cap of $35.57 billion, a P/E ratio of 22.28, a P/E/G ratio of 0.50 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCLGet Free Report) last posted its earnings results on Thursday, February 1st. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.13 by $0.12. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter last year, the firm earned ($1.12) EPS. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. On average, equities analysts predict that Royal Caribbean Cruises Ltd. will post 10.08 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 firm’s 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 completion of the sale, the chief executive officer now owns 166,537 shares in the company, valued at approximately $19,319,957.37. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RCL. Tigress Financial increased their price objective on shares of Royal Caribbean Cruises from $139.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. UBS Group increased their price objective on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Wells Fargo & Company increased their price objective on shares of Royal Caribbean Cruises from $151.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Susquehanna increased their price objective on shares of Royal Caribbean Cruises from $120.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Royal Caribbean Cruises in a research report on Monday. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $134.56.

Check Out Our Latest Stock 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.

See Also

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

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