New York Life Investment Management LLC Reduces Holdings in Carnival Co. & plc (NYSE:CCL)

New York Life Investment Management LLC reduced its position in Carnival Co. & plc (NYSE:CCL) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,697 shares of the company’s stock after selling 1,020 shares during the period. New York Life Investment Management LLC’s holdings in Carnival Co. & were worth $2,664,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Wealthfront Advisers LLC grew its stake in Carnival Co. & by 447.6% during the 3rd quarter. Wealthfront Advisers LLC now owns 215,672 shares of the company’s stock valued at $2,959,000 after purchasing an additional 176,286 shares in the last quarter. Bellwether Advisors LLC acquired a new stake in Carnival Co. & in the fourth quarter valued at $1,368,000. Patton Fund Management Inc. boosted its stake in Carnival Co. & by 981.9% during the 3rd quarter. Patton Fund Management Inc. now owns 109,133 shares of the company’s stock valued at $1,497,000 after acquiring an additional 99,046 shares during the last quarter. Nordea Investment Management AB grew its holdings in Carnival Co. & by 126.1% during the 4th quarter. Nordea Investment Management AB now owns 740,750 shares of the company’s stock worth $13,782,000 after acquiring an additional 413,082 shares in the last quarter. Finally, Blackstone Inc. increased its position in shares of Carnival Co. & by 50.8% in the 3rd quarter. Blackstone Inc. now owns 3,000,000 shares of the company’s stock worth $41,160,000 after purchasing an additional 1,010,000 shares during the last quarter. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Carnival Co. &

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

Carnival Co. & Stock Performance

Shares of CCL opened at $14.44 on Monday. The firm has a market capitalization of $16.21 billion, a PE ratio of 55.54 and a beta of 2.53. 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 firm has a 50-day moving average price of $15.55 and a 200 day moving average price of $15.58. Carnival Co. & plc has a 52-week low of $9.21 and a 52-week high of $19.74.

Carnival Co. & (NYSE:CCL) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.42 billion. Carnival Co. & had a net margin of 1.79% and a return on equity of 7.75%. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.55) earnings per share. On average, sell-side analysts anticipate that Carnival Co. & plc will post 1.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CCL. Tigress Financial increased their price target on shares of Carnival Co. & from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Barclays lifted their target price on Carnival Co. & from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Argus dropped their price target on Carnival Co. & from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. The Goldman Sachs Group began coverage on Carnival Co. & in a research note on Wednesday, March 13th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Truist Financial boosted their target price on shares of Carnival Co. & from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Carnival Co. & currently has an average rating of “Moderate Buy” and a consensus target price of $21.47.

Carnival Co. & Company 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.