Carnival Co. & plc (NYSE:CCL) Stock Position Reduced by Swiss National Bank

Swiss National Bank cut its stake in shares of Carnival Co. & plc (NYSE:CCL) by 4.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,017,200 shares of the company’s stock after selling 133,300 shares during the period. Swiss National Bank owned about 0.27% of Carnival Co. & worth $49,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TCW Group Inc. purchased a new position in Carnival Co. & during the fourth quarter valued at approximately $280,000. Merit Financial Group LLC lifted its stake in Carnival Co. & by 29.4% in the fourth quarter. Merit Financial Group LLC now owns 12,956 shares of the company’s stock valued at $240,000 after acquiring an additional 2,944 shares during the last quarter. Great Valley Advisor Group Inc. lifted its stake in Carnival Co. & by 5.7% in the fourth quarter. Great Valley Advisor Group Inc. now owns 18,066 shares of the company’s stock valued at $335,000 after acquiring an additional 981 shares during the last quarter. AGF Management Ltd. acquired a new stake in Carnival Co. & in the fourth quarter valued at approximately $435,000. Finally, Bellwether Advisors LLC acquired a new stake in Carnival Co. & in the fourth quarter valued at approximately $1,368,000. 67.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. William Blair reiterated an “outperform” rating on shares of Carnival Co. & in a research note on Monday, April 22nd. Macquarie lifted their target price on shares of Carnival Co. & from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Stifel Nicolaus reduced their price objective on shares of Carnival Co. & from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 28th. Truist Financial reduced their price objective on shares of Carnival Co. & from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, May 29th. Finally, Susquehanna restated a “positive” rating and issued a $22.00 price objective on shares of Carnival Co. & in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Carnival Co. & has a consensus rating of “Moderate Buy” and a consensus target price of $21.83.

Carnival Co. & Stock Performance

Carnival Co. & stock traded down $0.40 on Monday, hitting $17.83. The company’s stock had a trading volume of 5,470,877 shares, compared to its average volume of 30,934,791. The firm has a market cap of $20.01 billion, a P/E ratio of 28.05 and a beta of 2.68. The company has a quick ratio of 0.24, a current ratio of 0.28 and a debt-to-equity ratio of 3.99. The company has a fifty day moving average price of $16.23 and a 200-day moving average price of $16.04. Carnival Co. & plc has a one year low of $10.84 and a one year high of $19.74.

Carnival Co. & (NYSE:CCL) last announced its quarterly earnings results on Tuesday, June 25th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.12. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.68 billion. Carnival Co. & had a net margin of 3.86% and a return on equity of 15.22%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.31) EPS. On average, equities analysts anticipate that Carnival Co. & plc will post 1.18 earnings per share for the current year.

Carnival Co. & Profile

Carnival Corporation & plc engages in the provision of leisure travel services in North America, Australia, Europe, Asia, and internationally. The company operates through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations, private islands, and a solar park, as well as owns and operates hotels, lodges, glass-domed railcars, and motor coaches.