New York State Teachers Retirement System Sells 15,343 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

New York State Teachers Retirement System cut its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,699 shares of the company’s stock after selling 15,343 shares during the period. New York State Teachers Retirement System owned 0.08% of Royal Caribbean Cruises worth $31,997,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RCL. Blair William & Co. IL boosted its holdings in Royal Caribbean Cruises by 37.4% in the 1st quarter. Blair William & Co. IL now owns 102,133 shares of the company’s stock valued at $14,197,000 after purchasing an additional 27,819 shares during the period. Keystone Financial Group purchased a new stake in shares of Royal Caribbean Cruises in the fourth quarter worth $209,000. Quadrant Capital Group LLC boosted its stake in Royal Caribbean Cruises by 19.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,788 shares of the company’s stock valued at $232,000 after buying an additional 285 shares during the period. Franklin Resources Inc. boosted its stake in Royal Caribbean Cruises by 12.0% during the fourth quarter. Franklin Resources Inc. now owns 166,632 shares of the company’s stock valued at $21,577,000 after buying an additional 17,815 shares during the period. Finally, QRG Capital Management Inc. grew its position in Royal Caribbean Cruises by 17.2% during the second quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock worth $6,156,000 after buying an additional 5,655 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Stock Up 3.3 %

Shares of NYSE RCL opened at $163.08 on Friday. The firm’s fifty day moving average is $157.52 and its 200 day moving average is $142.95. Royal Caribbean Cruises Ltd. has a 52 week low of $78.35 and a 52 week high of $173.37. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20. The company has a market cap of $41.97 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 0.44 and a beta of 2.62.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.82 earnings per share. On average, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 11.63 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th.

Analysts Set New Price Targets

Several analysts have weighed in on RCL shares. Morgan Stanley raised their price target on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Macquarie boosted their price target on shares of Royal Caribbean Cruises from $165.00 to $189.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group raised their price objective on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Barclays upped their target price on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Argus raised their price target on Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.13.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CFO Naftali Holtz purchased 5,350 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $140.00 per share, with a total value of $749,000.00. Following the completion of the purchase, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the sale, the director now directly owns 179,117 shares of the company’s stock, valued at approximately $27,576,853.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Naftali Holtz bought 5,350 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $140.00 per share, with a total value of $749,000.00. Following the transaction, the chief financial officer now directly owns 48,256 shares in the company, valued at approximately $6,755,840. The disclosure for this purchase can be found here. Corporate 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.