Glenmede Trust Co. NA Increases Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Glenmede Trust Co. NA increased its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,080 shares of the company’s stock after purchasing an additional 110 shares during the quarter. Glenmede Trust Co. NA’s holdings in Royal Caribbean Cruises were worth $1,078,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC boosted its position in shares of Royal Caribbean Cruises by 2.6% in 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 purchasing an additional 7,298 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Royal Caribbean Cruises by 17.2% in 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 in the last quarter. Souders Financial Advisors purchased a new stake in shares of Royal Caribbean Cruises during the third quarter worth about $800,000. Swiss National Bank increased its holdings in shares of Royal Caribbean Cruises by 0.5% during the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after acquiring an additional 3,800 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Royal Caribbean Cruises in the 2nd quarter valued at approximately $611,000. Institutional investors own 87.53% of the company’s stock.

Insider Transactions at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the sale, the executive vice president now owns 22,348 shares of the company’s stock, valued at $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Henry L. Pujol sold 6,723 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the completion of the transaction, the chief accounting officer now directly owns 9,964 shares in the company, valued at $2,077,593.64. This represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock valued at $94,299,521 in the last three months. 7.95% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on RCL shares. Barclays upped their price target on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Macquarie upped their target price on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price target for the company. Citigroup increased their price objective on Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their target price on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $228.63.

Royal Caribbean Cruises Stock Up 1.0 %

RCL stock opened at $246.41 on Tuesday. Royal Caribbean Cruises Ltd. has a one year low of $110.66 and a one year high of $249.52. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. The firm’s fifty day moving average is $208.22 and its 200 day moving average is $175.28. The firm has a market cap of $66.25 billion, a PE ratio of 25.32, a P/E/G ratio of 0.64 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the firm earned $3.85 EPS. On average, research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current 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.