Allspring Global Investments Holdings LLC Has $36.27 Million Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Allspring Global Investments Holdings LLC raised its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 7.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 260,893 shares of the company’s stock after purchasing an additional 18,780 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.10% of Royal Caribbean Cruises worth $36,267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of RCL. Kowal Investment Group LLC grew its stake in shares of Royal Caribbean Cruises by 4.0% in the 1st quarter. Kowal Investment Group LLC now owns 2,286 shares of the company’s stock worth $318,000 after acquiring an additional 87 shares in the last quarter. West Branch Capital LLC boosted its holdings in shares of Royal Caribbean Cruises by 50.0% in the 4th quarter. West Branch Capital LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Toth Financial Advisory Corp grew its position in Royal Caribbean Cruises by 24.6% during the fourth quarter. Toth Financial Advisory Corp now owns 506 shares of the company’s stock valued at $66,000 after buying an additional 100 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in Royal Caribbean Cruises by 11.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,026 shares of the company’s stock worth $143,000 after buying an additional 107 shares during the last quarter. Finally, Ballentine Partners LLC raised its position in Royal Caribbean Cruises by 2.7% in the first quarter. Ballentine Partners LLC now owns 4,304 shares of the company’s stock worth $598,000 after acquiring an additional 115 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $155.38 on Friday. Royal Caribbean Cruises Ltd. has a 52-week low of $78.35 and a 52-week high of $162.50. The company has a fifty day moving average of $148.65 and a 200-day moving average of $134.40. The company has a market capitalization of $39.99 billion, a P/E ratio of 20.02, a P/E/G ratio of 0.47 and a beta of 2.62. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.16 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.69 billion. During the same quarter last year, the business posted ($0.23) earnings per share. The company’s revenue for the quarter was up 29.2% on a year-over-year basis. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 11.1 EPS for the current fiscal year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CEO Jason T. Liberty sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 153,017 shares in the company, valued at approximately $21,365,763.71. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Richard D. Fain sold 19,584 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jason T. Liberty sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the transaction, the chief executive officer now owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The disclosure for this sale can be found here. Insiders have sold 152,884 shares of company stock worth $22,052,985 over the last ninety days. Insiders own 7.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RCL. JPMorgan Chase & Co. lifted their price target on shares of Royal Caribbean Cruises from $173.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Mizuho upped their price target on Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, April 26th. 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 report on Wednesday, May 29th. UBS Group upped their price objective on shares of Royal Caribbean Cruises from $154.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, Argus lifted their target price on shares of Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.13.

About Royal Caribbean Cruises

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.