CIBC Asset Management Inc Acquires 2,687 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

CIBC Asset Management Inc grew its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 8.2% in the 3rd quarter, Holdings Channel reports. The fund owned 35,573 shares of the company’s stock after purchasing an additional 2,687 shares during the quarter. CIBC Asset Management Inc’s holdings in Royal Caribbean Cruises were worth $6,309,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. FSM Wealth Advisors LLC boosted its stake in shares of Royal Caribbean Cruises by 3.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after acquiring an additional 51 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Royal Caribbean Cruises by 20.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 353 shares of the company’s stock valued at $63,000 after acquiring an additional 61 shares during the period. Venture Visionary Partners LLC raised its holdings in shares of Royal Caribbean Cruises by 4.8% during the 3rd quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company’s stock worth $242,000 after buying an additional 62 shares in the last quarter. Empower Advisory Group LLC raised its holdings in shares of Royal Caribbean Cruises by 3.7% during the 3rd quarter. Empower Advisory Group LLC now owns 1,755 shares of the company’s stock worth $311,000 after buying an additional 63 shares in the last quarter. Finally, Ignite Planners LLC raised its holdings in shares of Royal Caribbean Cruises by 4.3% during the 3rd quarter. Ignite Planners LLC now owns 1,856 shares of the company’s stock worth $329,000 after buying an additional 77 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RCL has been the subject of a number of research analyst reports. Susquehanna boosted their price target on Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Mizuho boosted their price target on Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Barclays boosted their price target on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Bank of America boosted their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $220.00.

Royal Caribbean Cruises Stock Down 0.7 %

Shares of Royal Caribbean Cruises stock opened at $231.49 on Monday. Royal Caribbean Cruises Ltd. has a one year low of $101.04 and a one year high of $238.10. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The stock’s 50-day moving average is $193.66 and its 200 day moving average is $168.33. The firm has a market cap of $62.24 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 0.61 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating 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 company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the company earned $3.85 EPS. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.64 EPS for the current year.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the transaction, the chief accounting officer now owns 9,964 shares in the company, valued at approximately $2,077,593.64. This represents a 40.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. The trade was a 10.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,796 shares of company stock worth $7,170,759 in the last 90 days. Corporate insiders own 7.95% of the company’s stock.

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.