Wellington Management Group LLP Cuts Stock Position in Carnival Co. & plc (NYSE:CCL)

Wellington Management Group LLP trimmed its stake in shares of Carnival Co. & plc (NYSE:CCL) by 29.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,582 shares of the company’s stock after selling 4,397 shares during the period. Wellington Management Group LLP’s holdings in Carnival Co. & were worth $264,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Measured Risk Portfolios Inc. purchased a new position in Carnival Co. & in the 4th quarter valued at about $29,000. Orion Capital Management LLC acquired a new position in shares of Carnival Co. & during the fourth quarter valued at approximately $30,000. Millstone Evans Group LLC purchased a new position in shares of Carnival Co. & in the fourth quarter valued at approximately $34,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Carnival Co. & in the fourth quarter worth approximately $42,000. Finally, Ossiam purchased a new stake in shares of Carnival Co. & during the fourth quarter worth approximately $46,000. Institutional investors and hedge funds own 67.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Loop Capital lifted their target price on shares of Carnival Co. & from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Tuesday, June 3rd. Barclays lowered their price target on shares of Carnival Co. & from $32.00 to $26.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Truist Financial dropped their price objective on shares of Carnival Co. & from $30.00 to $27.00 and set a “hold” rating for the company in a research note on Monday, May 19th. Tigress Financial reissued a “buy” rating on shares of Carnival Co. & in a research note on Wednesday, March 26th. Finally, Hsbc Global Res upgraded Carnival Co. & from a “moderate sell” rating to a “hold” rating in a report on Friday, May 16th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.47.

Carnival Co. & Price Performance

Carnival Co. & stock opened at $24.31 on Friday. The company’s 50 day simple moving average is $20.29 and its 200-day simple moving average is $22.96. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.25 and a current ratio of 0.29. Carnival Co. & plc has a 1 year low of $13.78 and a 1 year high of $28.72. The company has a market capitalization of $28.36 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 0.73 and a beta of 2.58.

Carnival Co. & (NYSE:CCL) last announced its earnings results on Friday, March 21st. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. Carnival Co. & had a return on equity of 24.13% and a net margin of 7.66%. The company had revenue of $5.81 billion for the quarter, compared to analyst estimates of $5.74 billion. During the same quarter in the previous year, the company earned ($0.14) earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts expect that Carnival Co. & plc will post 1.77 earnings per share for the current year.

Carnival Co. & 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.