abrdn plc Grows Position in Carnival Co. & plc (NYSE:CCL)

abrdn plc increased its position in shares of Carnival Co. & plc (NYSE:CCL) by 70.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 417,125 shares of the company’s stock after purchasing an additional 172,185 shares during the quarter. abrdn plc’s holdings in Carnival Co. & were worth $7,733,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. CWM LLC lifted its position in shares of Carnival Co. & by 11.2% in the 3rd quarter. CWM LLC now owns 30,861 shares of the company’s stock worth $423,000 after purchasing an additional 3,101 shares during the period. Czech National Bank increased its stake in Carnival Co. & by 48.1% during the 3rd quarter. Czech National Bank now owns 176,062 shares of the company’s stock valued at $2,416,000 after purchasing an additional 57,197 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in Carnival Co. & by 1.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 412,163 shares of the company’s stock valued at $5,655,000 after purchasing an additional 7,602 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Carnival Co. & by 7.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 4,044,828 shares of the company’s stock valued at $55,495,000 after purchasing an additional 272,042 shares in the last quarter. Finally, Balboa Wealth Partners acquired a new position in Carnival Co. & during the 3rd quarter valued at approximately $456,000. 67.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO David Bernstein sold 153,995 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $15.37, for a total transaction of $2,366,903.15. Following the completion of the sale, the chief financial officer now directly owns 181,981 shares in the company, valued at $2,797,047.97. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 11.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CCL shares. Mizuho started coverage on shares of Carnival Co. & in a research note on Tuesday, March 26th. They set a “buy” rating and a $21.00 price target on the stock. Wells Fargo & Company raised shares of Carnival Co. & from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a report on Friday, January 5th. William Blair reaffirmed an “outperform” rating on shares of Carnival Co. & in a report on Monday, April 22nd. Barclays upped their price objective on shares of Carnival Co. & from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, Truist Financial upped their price objective on shares of Carnival Co. & from $15.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.47.

Carnival Co. & Stock Performance

CCL opened at $15.09 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.36 and a debt-to-equity ratio of 4.27. The company has a market cap of $16.93 billion, a price-to-earnings ratio of 58.02 and a beta of 2.54. Carnival Co. & plc has a 52-week low of $8.72 and a 52-week high of $19.74. The firm’s fifty day simple moving average is $15.58 and its two-hundred day simple moving average is $15.46.

Carnival Co. & (NYSE:CCL) last issued its earnings results on Wednesday, March 27th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.04. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Carnival Co. & had a net margin of 1.79% and a return on equity of 7.75%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.55) earnings per share. Equities analysts anticipate that Carnival Co. & plc will post 1.02 earnings per share for the current fiscal year.

About Carnival Co. &

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.