Truist Financial Corp Acquires 1,656 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Truist Financial Corp lifted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RCL. Vanguard Group Inc. raised its holdings in shares of Royal Caribbean Cruises by 2.0% during the third quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock valued at $2,295,891,000 after acquiring an additional 487,327 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in Royal Caribbean Cruises by 476.1% in the third quarter. Jupiter Asset Management Ltd. now owns 470,816 shares of the company’s stock worth $43,381,000 after purchasing an additional 389,095 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Royal Caribbean Cruises by 484.7% in the third quarter. Retirement Systems of Alabama now owns 292,289 shares of the company’s stock worth $26,932,000 after purchasing an additional 242,302 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Royal Caribbean Cruises by 1,188.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 242,113 shares of the company’s stock worth $31,351,000 after purchasing an additional 223,323 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Royal Caribbean Cruises in the fourth quarter worth $25,487,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Trading Up 0.1 %

Royal Caribbean Cruises stock opened at $141.67 on Thursday. The business has a 50-day simple moving average of $133.15 and a two-hundred day simple moving average of $120.60. The company has a market cap of $36.46 billion, a P/E ratio of 18.26, a P/E/G ratio of 0.41 and a beta of 2.49. Royal Caribbean Cruises Ltd. has a 52-week low of $73.93 and a 52-week high of $143.93. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 3.54.

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

Insider Activity at Royal Caribbean Cruises

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RCL shares. Macquarie increased their price objective on Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. Barclays raised their price target on Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Susquehanna raised their price target on Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a “positive” rating in a report on Friday, April 26th. Wells Fargo & Company raised their price target on Royal Caribbean Cruises from $153.00 to $159.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, Bank of America raised their price target on Royal Caribbean Cruises from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.13.

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.