Primecap Management Co. CA Trims Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Primecap Management Co. CA reduced its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,874,443 shares of the company’s stock after selling 126,822 shares during the period. Primecap Management Co. CA owned approximately 1.89% of Royal Caribbean Cruises worth $777,132,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of RCL. Envestnet Portfolio Solutions Inc. raised its stake in shares of Royal Caribbean Cruises by 2.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,162 shares of the company’s stock worth $668,000 after buying an additional 140 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Royal Caribbean Cruises by 19.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,788 shares of the company’s stock worth $232,000 after acquiring an additional 285 shares during the last quarter. ING Groep NV lifted its stake in shares of Royal Caribbean Cruises by 294.2% during the 4th quarter. ING Groep NV now owns 32,273 shares of the company’s stock worth $4,179,000 after acquiring an additional 24,086 shares during the last quarter. Norges Bank bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $323,251,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Royal Caribbean Cruises by 1.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 46,653 shares of the company’s stock worth $6,041,000 after acquiring an additional 527 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Price Performance

NYSE:RCL opened at $169.78 on Tuesday. Royal Caribbean Cruises Ltd. has a one year low of $78.35 and a one year high of $173.40. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19. The stock has a market cap of $43.69 billion, a PE ratio of 21.88, a P/E/G ratio of 0.47 and a beta of 2.61. The stock has a 50 day moving average price of $159.92 and a 200 day moving average price of $148.27.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.21 EPS for the quarter, beating the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. Equities research analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The business also recently declared a — dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a $0.40 dividend. The ex-dividend date is Friday, September 20th.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RCL shares. Bank of America raised their price target on Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Stifel Nicolaus raised their price target on Royal Caribbean Cruises from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Macquarie lifted their target price on Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. StockNews.com lowered Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their target price on Royal Caribbean Cruises from $210.00 to $213.00 and gave the company an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $182.31.

Insider Activity at Royal Caribbean Cruises

In related news, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the sale, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the sale, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Naftali Holtz bought 5,350 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average cost of $140.00 per share, with a total value of $749,000.00. Following the purchase, the chief financial officer now owns 48,256 shares of the company’s stock, valued at $6,755,840. The disclosure for this purchase can be found here. 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.