Primecap Management Co. CA Sells 59,900 Shares of Carnival Co. & plc (NYSE:CCL)

Primecap Management Co. CA lowered its stake in shares of Carnival Co. & plc (NYSE:CCL) by 0.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,283,978 shares of the company’s stock after selling 59,900 shares during the quarter. Primecap Management Co. CA’s holdings in Carnival Co. & were worth $117,636,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TCW Group Inc. bought a new position in Carnival Co. & during the fourth quarter worth about $280,000. Empowered Funds LLC lifted its holdings in shares of Carnival Co. & by 29.4% during the 1st quarter. Empowered Funds LLC now owns 16,467 shares of the company’s stock valued at $269,000 after purchasing an additional 3,741 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Carnival Co. & by 72.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 246,026 shares of the company’s stock valued at $4,223,000 after purchasing an additional 103,501 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Carnival Co. & by 7.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 176,147 shares of the company’s stock valued at $3,266,000 after purchasing an additional 12,017 shares in the last quarter. Finally, Cetera Advisors LLC lifted its holdings in shares of Carnival Co. & by 38.3% during the 1st quarter. Cetera Advisors LLC now owns 40,708 shares of the company’s stock valued at $665,000 after purchasing an additional 11,276 shares in the last quarter. Institutional investors own 67.19% of the company’s stock.

Carnival Co. & Stock Up 1.2 %

NYSE:CCL opened at $18.04 on Wednesday. The firm has a market capitalization of $20.25 billion, a price-to-earnings ratio of 27.75 and a beta of 2.68. Carnival Co. & plc has a twelve month low of $10.84 and a twelve month high of $19.74. The stock’s 50 day moving average price is $16.55 and its two-hundred day moving average price is $16.09. The company has a quick ratio of 0.24, a current ratio of 0.28 and a debt-to-equity ratio of 3.99.

Carnival Co. & (NYSE:CCL) last posted its quarterly earnings results on Tuesday, June 25th. The company reported $0.11 earnings per share for the quarter, topping 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 return on equity of 15.22% and a net margin of 3.86%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.31) EPS. Equities research analysts expect that Carnival Co. & plc will post 1.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Bank of America lifted their price objective on Carnival Co. & from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Susquehanna reiterated a “positive” rating and set a $22.00 price objective on shares of Carnival Co. & in a report on Wednesday, June 26th. Truist Financial lifted their price objective on Carnival Co. & from $17.00 to $20.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Hsbc Global Res upgraded Carnival Co. & to a “moderate sell” rating in a research note on Tuesday, September 3rd. Finally, Morgan Stanley boosted their target price on Carnival Co. & from $13.50 to $15.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Carnival Co. & has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

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.