Concord Investment Counsel Inc. Makes New $344,000 Investment in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Concord Investment Counsel Inc. bought a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,474 shares of the company’s stock, valued at approximately $344,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $323,251,000. Eagle Asset Management Inc. bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $79,392,000. Vanguard Group Inc. increased its stake in shares of Royal Caribbean Cruises by 2.0% in the third quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock valued at $2,295,891,000 after buying an additional 487,327 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of Royal Caribbean Cruises during the first quarter worth about $66,279,000. Finally, Junto Capital Management LP acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter worth approximately $47,950,000. 87.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RCL shares. Citigroup boosted their price target on shares of Royal Caribbean Cruises from $165.00 to $204.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Wells Fargo & Company upped their price target on shares of Royal Caribbean Cruises from $159.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Truist Financial lifted their price objective on Royal Caribbean Cruises from $151.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Susquehanna boosted their price objective on Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a “positive” rating in a research note on Friday, April 26th. Finally, UBS Group raised their target price on Royal Caribbean Cruises from $154.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.38.

Insider Buying and Selling

In other news, Director Richard D. Fain sold 19,584 shares of the company’s stock in a transaction 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 transaction, the director now owns 179,117 shares of the company’s stock, valued at approximately $27,576,853.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael W. Bayley sold 49,155 shares of Royal Caribbean Cruises stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $147.67, for a total value of $7,258,718.85. Following the completion of the transaction, the chief executive officer now owns 49,695 shares in the company, valued at $7,338,460.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard D. Fain sold 19,584 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the sale, the director now owns 179,117 shares in the company, valued at $27,576,853.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,884 shares of company stock valued at $22,052,985. 7.95% of the stock is owned by company insiders.

Royal Caribbean Cruises Stock Up 1.9 %

Shares of NYSE RCL traded up $3.13 during trading on Friday, hitting $166.31. The stock had a trading volume of 846,981 shares, compared to its average volume of 2,508,464. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16. The firm has a fifty day moving average of $151.17 and a two-hundred day moving average of $135.83. Royal Caribbean Cruises Ltd. has a 12 month low of $78.35 and a 12 month high of $166.64. The company has a market capitalization of $42.80 billion, a PE ratio of 21.44, a PEG ratio of 0.49 and a beta of 2.62.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.44. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. The business’s revenue was up 29.2% on a year-over-year basis. As a group, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.1 EPS for the current fiscal year.

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.