State of New Jersey Common Pension Fund D Increases Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

State of New Jersey Common Pension Fund D raised its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 136,926 shares of the company’s stock after buying an additional 6,713 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Royal Caribbean Cruises were worth $17,731,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Nordea Investment Management AB raised its holdings in Royal Caribbean Cruises by 120.9% in the 4th quarter. Nordea Investment Management AB now owns 194,018 shares of the company’s stock worth $25,149,000 after purchasing an additional 106,203 shares during the period. Geneos Wealth Management Inc. grew its stake in Royal Caribbean Cruises by 1,672.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 18,845 shares of the company’s stock valued at $2,440,000 after acquiring an additional 17,782 shares during the period. Retireful LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter worth $1,977,000. Bank of New York Mellon Corp grew its position in shares of Royal Caribbean Cruises by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 1,533,566 shares of the company’s stock valued at $141,303,000 after purchasing an additional 10,095 shares during the period. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth about $1,120,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total value of $1,363,465.53. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RCL has been the topic of a number of research reports. Barclays raised their price target on shares of Royal Caribbean Cruises from $150.00 to $154.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Mizuho started coverage on Royal Caribbean Cruises in a research report on Wednesday, April 17th. They issued a “buy” rating and a $164.00 target price on the stock. Susquehanna boosted their price target on Royal Caribbean Cruises from $120.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus boosted their price objective on Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company boosted their price target on shares of Royal Caribbean Cruises from $151.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $136.94.

Royal Caribbean Cruises Stock Performance

RCL traded up $0.74 during trading on Thursday, hitting $137.47. The stock had a trading volume of 5,645,844 shares, compared to its average volume of 2,785,977. The firm has a market capitalization of $35.29 billion, a P/E ratio of 22.24, a PEG ratio of 0.50 and a beta of 2.52. The company has a debt-to-equity ratio of 4.03, a quick ratio of 0.16 and a current ratio of 0.19. Royal Caribbean Cruises Ltd. has a twelve month low of $59.37 and a twelve month high of $141.70. The company’s 50-day moving average price is $129.31 and its 200 day moving average price is $116.96.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.25 earnings per share (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 during the quarter, compared to analysts’ expectations of $3.36 billion. During the same period in the prior year, the company posted ($1.12) earnings per share. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 9.99 EPS for the current fiscal year.

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.