Canada Pension Plan Investment Board reduced its position in Royal Caribbean Group (NYSE:RCL) by 1.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,796,326 shares of the company’s stock after selling 83,998 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Royal Caribbean Group were worth $410,613,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Childress Capital Advisors LLC bought a new position in shares of Royal Caribbean Group during the fourth quarter valued at about $26,000. Lederer & Associates Investment Counsel CA purchased a new position in shares of Royal Caribbean Group during the 1st quarter worth $26,000. Certified Advisory Corp bought a new position in Royal Caribbean Group during the first quarter valued at $26,000. Tompkins Financial Corp purchased a new position in shares of Royal Caribbean Group in the 4th quarter worth $28,000. Finally, Eudaimonia Partners LLC bought a new stake in shares of Royal Caribbean Group in the 1st quarter worth about $28,000. Hedge funds and other institutional investors own 65.09% of the company’s stock.
Several research firms recently commented on RCL. JPMorgan Chase & Co. lifted their price target on Royal Caribbean Group from $112.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, June 17th. Morgan Stanley boosted their target price on Royal Caribbean Group from $50.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, April 29th. The Goldman Sachs Group raised their price target on Royal Caribbean Group from $76.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 21st. They noted that the move was a valuation call. Berenberg Bank upped their price target on shares of Royal Caribbean Group from $55.00 to $70.00 and gave the company a “sell” rating in a report on Wednesday, April 21st. Finally, Wolfe Research raised Royal Caribbean Group from a “peer perform” rating to an “outperform” rating and set a $94.00 price objective on the stock in a research report on Wednesday, June 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $84.69.
Royal Caribbean Group (NYSE:RCL) last issued its quarterly earnings data on Thursday, April 29th. The company reported ($4.44) EPS for the quarter, beating the consensus estimate of ($4.54) by $0.10. The business had revenue of $42.01 million during the quarter, compared to analyst estimates of $40.71 million. As a group, sell-side analysts predict that Royal Caribbean Group will post -13.41 earnings per share for the current fiscal year.
In other Royal Caribbean Group news, SVP Naftali Holtz sold 5,465 shares of Royal Caribbean Group stock in a transaction dated Tuesday, May 25th. The shares were sold at an average price of $88.88, for a total transaction of $485,729.20. Following the completion of the sale, the senior vice president now directly owns 22,385 shares in the company, valued at $1,989,578.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 278,720 shares of the business’s stock in a transaction on Monday, June 7th. The shares were sold at an average price of $94.56, for a total value of $26,355,763.20. Following the completion of the sale, the director now owns 14,509 shares in the company, valued at approximately $1,371,971.04. The disclosure for this sale can be found here. 9.56% of the stock is owned by corporate insiders.
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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