Wedge Capital Management L L P NC Buys 1,901,224 Shares of Carnival Co. & plc (NYSE:CCL)

Wedge Capital Management L L P NC grew its position in Carnival Co. & plc (NYSE:CCL) by 718.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,165,952 shares of the company’s stock after purchasing an additional 1,901,224 shares during the quarter. Carnival Co. & makes up approximately 1.0% of Wedge Capital Management L L P NC’s portfolio, making the stock its 26th largest holding. Wedge Capital Management L L P NC owned 0.19% of Carnival Co. & worth $53,976,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Carnival Co. & in the 2nd quarter worth $466,838,000. Marshall Wace LLP grew its position in shares of Carnival Co. & by 510.5% in the second quarter. Marshall Wace LLP now owns 10,331,092 shares of the company’s stock valued at $193,398,000 after purchasing an additional 8,638,865 shares during the last quarter. Mizuho Securities USA LLC increased its stake in shares of Carnival Co. & by 8,431.1% in the third quarter. Mizuho Securities USA LLC now owns 6,644,000 shares of the company’s stock worth $122,781,000 after purchasing an additional 6,566,120 shares during the period. International Assets Investment Management LLC lifted its position in shares of Carnival Co. & by 2,400.1% during the 3rd quarter. International Assets Investment Management LLC now owns 3,010,189 shares of the company’s stock worth $556,280,000 after purchasing an additional 2,889,785 shares during the last quarter. Finally, State Street Corp boosted its stake in Carnival Co. & by 5.9% during the 3rd quarter. State Street Corp now owns 41,426,562 shares of the company’s stock valued at $765,563,000 after purchasing an additional 2,301,906 shares during the period. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Carnival Co. & Stock Up 3.2 %

CCL opened at $25.85 on Friday. The firm has a market cap of $29.83 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 0.77 and a beta of 2.64. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.25 and a current ratio of 0.29. The firm’s 50-day simple moving average is $25.19 and its 200-day simple moving average is $20.55. Carnival Co. & plc has a twelve month low of $13.78 and a twelve month high of $27.17.

Carnival Co. & (NYSE:CCL) last posted its quarterly earnings data on Friday, December 20th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.06. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.94 billion. Carnival Co. & had a net margin of 7.66% and a return on equity of 24.13%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.07) earnings per share. Equities research analysts anticipate that Carnival Co. & plc will post 1.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CCL. Morgan Stanley lifted their price target on Carnival Co. & from $20.00 to $22.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 8th. Bank of America boosted their target price on shares of Carnival Co. & from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group increased their price target on shares of Carnival Co. & from $24.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Macquarie boosted their price objective on shares of Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Truist Financial upped their price objective on shares of Carnival Co. & from $20.00 to $29.00 and gave the company a “hold” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.18.

Insiders Place Their Bets

In related news, Director Sir Jonathon Band sold 17,500 shares of Carnival Co. & stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $21.72, for a total value of $380,100.00. Following the completion of the transaction, the director now directly owns 65,789 shares of the company’s stock, valued at $1,428,937.08. The trade was a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 11.00% of the company’s stock.

Carnival Co. & Company Profile

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America and Australia (NAA) Cruise, Europe and Asia (EA) Cruise Operations, Cruise Support, and Tour and Others. The North America and Australia (NAA) Cruise segment includes the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.