Noesis Capital Mangement Corp Trims Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Noesis Capital Mangement Corp lessened its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,399 shares of the company’s stock after selling 898 shares during the period. Royal Caribbean Cruises makes up 2.8% of Noesis Capital Mangement Corp’s investment portfolio, making the stock its 12th largest position. Noesis Capital Mangement Corp’s holdings in Royal Caribbean Cruises were worth $14,260,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Wedge Capital Management L L P NC lifted its position in Royal Caribbean Cruises by 2.6% in the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock valued at $51,349,000 after buying an additional 7,298 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Royal Caribbean Cruises by 17.2% in the 2nd 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 during the last quarter. Souders Financial Advisors purchased a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth approximately $800,000. Swiss National Bank increased its holdings in Royal Caribbean Cruises by 0.5% in the 3rd quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after purchasing an additional 3,800 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in Royal Caribbean Cruises in the second quarter valued at approximately $611,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value of $53,732,600.00. Following the completion of the sale, the director now directly owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. This represents a 1.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Henry L. Pujol sold 6,723 shares of Royal Caribbean Cruises 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 directly owns 9,964 shares in the company, valued at approximately $2,077,593.64. This trade represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 404,332 shares of company stock worth $94,299,521 in the last ninety days. 7.95% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Trading Down 1.2 %

NYSE:RCL opened at $241.62 on Thursday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. Royal Caribbean Cruises Ltd. has a 1 year low of $105.36 and a 1 year high of $245.91. The stock has a market cap of $64.97 billion, a P/E ratio of 24.83, a P/E/G ratio of 0.63 and a beta of 2.59. The stock has a 50-day simple moving average of $205.42 and a 200-day simple moving average of $173.61.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the company posted $3.85 earnings per share. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on RCL. Barclays raised their price target on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein began coverage on shares of Royal Caribbean Cruises in a research note on Tuesday. They set an “outperform” rating and a $290.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup lifted their price objective on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $224.38.

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.