Nuveen LLC Purchases New Shares in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Nuveen LLC acquired a new stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) in the first quarter, Holdings Channel reports. The firm acquired 1,745,592 shares of the company’s stock, valued at approximately $358,614,000.

A number of other large investors have also added to or reduced their stakes in the stock. Capital International Investors raised its stake in Royal Caribbean Cruises by 0.9% during the fourth quarter. Capital International Investors now owns 29,712,610 shares of the company’s stock valued at $6,854,905,000 after buying an additional 278,860 shares during the last quarter. Vanguard Group Inc. raised its stake in Royal Caribbean Cruises by 2.1% during the first quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company’s stock valued at $5,890,943,000 after buying an additional 602,447 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Royal Caribbean Cruises by 21.8% during the first quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company’s stock valued at $614,487,000 after buying an additional 535,043 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Royal Caribbean Cruises by 24.0% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,653,258 shares of the company’s stock worth $612,080,000 after purchasing an additional 513,702 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Royal Caribbean Cruises by 15.6% in the fourth quarter. Northern Trust Corp now owns 2,364,794 shares of the company’s stock worth $545,534,000 after purchasing an additional 319,264 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

Shares of RCL opened at $301.43 on Monday. The company has a quick ratio of 0.21, a current ratio of 0.23 and a debt-to-equity ratio of 1.88. The business has a 50-day simple moving average of $308.51 and a two-hundred day simple moving average of $256.54. The stock has a market cap of $81.88 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 0.85 and a beta of 2.22. Royal Caribbean Cruises Ltd. has a 52 week low of $150.33 and a 52 week high of $355.91.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $4.04 by $0.34. The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.54 billion. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.21 earnings per share. On average, analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on RCL. Jefferies Financial Group boosted their price target on Royal Caribbean Cruises from $235.00 to $315.00 and gave the stock a “hold” rating in a research note on Monday, July 7th. Susquehanna restated a “positive” rating and issued a $385.00 price target (up previously from $275.00) on shares of Royal Caribbean Cruises in a research note on Wednesday, July 30th. Macquarie decreased their price target on Royal Caribbean Cruises from $300.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. Wall Street Zen cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Saturday, June 28th. Finally, Barclays boosted their price target on Royal Caribbean Cruises from $263.00 to $358.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $323.10.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of the company’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the transaction, the director owned 165,421 shares of the company’s stock, valued at $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Henry L. Pujol sold 5,207 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $329.47, for a total value of $1,715,550.29. Following the completion of the transaction, the chief accounting officer directly owned 7,826 shares of the company’s stock, valued at approximately $2,578,432.22. This trade represents a 39.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,807 shares of company stock valued at $11,652,630. Corporate insiders own 6.95% of the company’s stock.

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.