KBC Group NV Sells 50,715 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

KBC Group NV decreased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 51.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 47,431 shares of the company’s stock after selling 50,715 shares during the period. KBC Group NV’s holdings in Royal Caribbean Cruises were worth $8,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RCL. Wedge Capital Management L L P NC lifted its stake in shares of Royal Caribbean Cruises by 2.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after buying an additional 7,298 shares during the last quarter. QRG Capital Management Inc. lifted 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 acquiring an additional 5,655 shares during the last quarter. Souders Financial Advisors acquired a new stake in Royal Caribbean Cruises during the third quarter worth approximately $800,000. New Wave Wealth Advisors LLC bought a new stake in shares of Royal Caribbean Cruises during the second quarter worth approximately $611,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Royal Caribbean Cruises by 8.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,575 shares of the company’s stock valued at $6,310,000 after purchasing an additional 2,640 shares during the last quarter. 87.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RCL has been the subject of several recent research reports. Truist Financial boosted their price target on Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley upped their price target on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Citigroup lifted their price objective on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Susquehanna boosted their price objective on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a report on Tuesday, July 30th. Finally, StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $220.00.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 25,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the sale, the director now directly owns 204,521 shares in the company, valued at $42,953,500.42. This trade represents a 10.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. This trade represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,796 shares of company stock worth $7,170,759 over the last quarter. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock opened at $231.49 on Friday. 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 Ltd. has a 52 week low of $101.04 and a 52 week high of $238.10. The stock has a market capitalization of $62.24 billion, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 0.62 and a beta of 2.59. The stock has a fifty day moving average of $193.66 and a 200-day moving average of $167.91.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the firm earned $3.85 earnings per share. The business’s quarterly revenue was up 17.5% on a year-over-year basis. On average, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current fiscal year.

About Royal Caribbean Cruises

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.