Swiss National Bank Sells 89,700 Shares of Carnival Co. & plc (NYSE:CCL)

Swiss National Bank reduced its stake in Carnival Co. & plc (NYSE:CCL) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,150,500 shares of the company’s stock after selling 89,700 shares during the period. Swiss National Bank’s holdings in Carnival Co. & were worth $58,410,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James & Associates grew its holdings in shares of Carnival Co. & by 6.2% during the third quarter. Raymond James & Associates now owns 392,814 shares of the company’s stock valued at $5,389,000 after buying an additional 23,068 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Carnival Co. & by 15.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 551,268 shares of the company’s stock worth $7,563,000 after purchasing an additional 74,084 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Carnival Co. & by 6.3% during the third quarter. Stratos Wealth Partners LTD. now owns 46,042 shares of the company’s stock valued at $632,000 after purchasing an additional 2,734 shares in the last quarter. Forsta AP Fonden purchased a new stake in shares of Carnival Co. & during the third quarter valued at $2,843,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Carnival Co. & by 4.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 416,925 shares of the company’s stock worth $5,720,000 after buying an additional 16,821 shares during the last quarter. 67.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO David Bernstein sold 153,995 shares of Carnival Co. & stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $15.37, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.00% of the company’s stock.

Carnival Co. & Trading Down 0.1 %

NYSE CCL opened at $14.44 on Monday. The stock has a market cap of $16.21 billion, a PE ratio of 55.54 and a beta of 2.53. Carnival Co. & plc has a 12 month low of $9.21 and a 12 month high of $19.74. The company’s 50-day moving average price is $15.55 and its 200-day moving average price is $15.58. The company has a current ratio of 0.36, a quick ratio of 0.32 and a debt-to-equity ratio of 4.27.

Carnival Co. & (NYSE:CCL) last posted its quarterly earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.04. Carnival Co. & had a net margin of 1.79% and a return on equity of 7.75%. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the previous year, the firm posted ($0.55) earnings per share. The company’s revenue was up 22.0% on a year-over-year basis. Equities research analysts forecast that Carnival Co. & plc will post 1.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CCL. Argus lowered their price target on Carnival Co. & from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, April 1st. Mizuho assumed coverage on shares of Carnival Co. & in a research note on Tuesday, March 26th. They issued a “buy” rating and a $21.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on shares of Carnival Co. & from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Barclays lifted their target price on Carnival Co. & from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Susquehanna decreased their price objective on Carnival Co. & from $23.00 to $22.00 and set a “positive” rating on the stock in a research note on Monday, March 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.