Canada Pension Plan Investment Board trimmed its position in shares of Royal Caribbean Group (NYSE:RCL) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,796,326 shares of the company’s stock after selling 83,998 shares during the period. Canada Pension Plan Investment Board owned 1.88% of Royal Caribbean Group worth $410,613,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of RCL. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Royal Caribbean Group during the fourth quarter worth $1,315,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Royal Caribbean Group by 5.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 195,867 shares of the company’s stock worth $14,629,000 after buying an additional 9,408 shares during the period. LPL Financial LLC grew its holdings in Royal Caribbean Group by 17.3% in the 4th quarter. LPL Financial LLC now owns 57,825 shares of the company’s stock valued at $4,319,000 after buying an additional 8,544 shares in the last quarter. Vantage Consulting Group Inc acquired a new position in Royal Caribbean Group in the 4th quarter valued at $38,000. Finally, Allstate Corp grew its holdings in Royal Caribbean Group by 6.5% in the 4th quarter. Allstate Corp now owns 4,094 shares of the company’s stock valued at $306,000 after buying an additional 251 shares in the last quarter. Institutional investors and hedge funds own 65.09% of the company’s stock.
A number of research analysts have commented on RCL shares. Berenberg Bank upped their price objective on Royal Caribbean Group from $55.00 to $70.00 and gave the company a “sell” rating in a report on Wednesday, April 21st. JPMorgan Chase & Co. raised their target price on shares of Royal Caribbean Group from $112.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, June 17th. Morgan Stanley raised their target price on shares of Royal Caribbean Group from $50.00 to $61.00 and gave the stock an “underweight” rating in a report on Thursday, April 29th. Wolfe Research raised shares of Royal Caribbean Group from a “peer perform” rating to an “outperform” rating and set a $94.00 target price on the stock in a report on Wednesday, June 16th. Finally, The Goldman Sachs Group raised their target price on shares of Royal Caribbean Group from $76.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, April 21st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $84.69.
Royal Caribbean Group (NYSE:RCL) last posted its quarterly earnings results on Thursday, April 29th. The company reported ($4.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.54) by $0.10. The company had revenue of $42.01 million during the quarter, compared to analyst estimates of $40.71 million. On average, equities research analysts anticipate that Royal Caribbean Group will post -13.41 EPS for the current year.
In other news, Director Arne Alexander Wilhelmsen sold 278,720 shares of the firm’s stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $94.56, for a total transaction of $26,355,763.20. Following the completion of the transaction, the director now directly owns 14,509 shares in the company, valued at $1,371,971.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Naftali Holtz sold 5,465 shares of the firm’s stock in a transaction dated Tuesday, May 25th. The stock was sold at an average price of $88.88, for a total value of $485,729.20. Following the transaction, the senior vice president now owns 22,385 shares of the company’s stock, valued at $1,989,578.80. The disclosure for this sale can be found here. Company insiders own 9.56% of the company’s stock.
Royal Caribbean Group Company Profile
Royal Caribbean Group operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of December 31, 2020, it operated 61 ships with an aggregate capacity of approximately 137,930 berths.
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