Prudential Financial Inc. Lowers Stake in Carnival Co. & plc (NYSE:CCL)

Prudential Financial Inc. lessened its stake in shares of Carnival Co. & plc (NYSE:CCL) by 59.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 640,541 shares of the company’s stock after selling 920,070 shares during the quarter. Prudential Financial Inc.’s holdings in Carnival Co. & were worth $15,962,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cerity Partners LLC grew its stake in Carnival Co. & by 181.7% in the third quarter. Cerity Partners LLC now owns 123,815 shares of the company’s stock valued at $2,288,000 after purchasing an additional 79,857 shares during the last quarter. Swedbank AB boosted its holdings in shares of Carnival Co. & by 5.5% in the 3rd quarter. Swedbank AB now owns 250,235 shares of the company’s stock valued at $4,624,000 after buying an additional 13,137 shares in the last quarter. Fisher Asset Management LLC purchased a new position in shares of Carnival Co. & in the 3rd quarter worth approximately $418,000. Truvestments Capital LLC bought a new position in shares of Carnival Co. & during the 3rd quarter worth approximately $62,000. Finally, FMR LLC lifted its position in Carnival Co. & by 3.2% during the third quarter. FMR LLC now owns 3,454,462 shares of the company’s stock valued at $63,838,000 after acquiring an additional 107,481 shares during the last quarter. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Carnival Co. & Stock Performance

NYSE CCL opened at $20.80 on Friday. The firm has a market capitalization of $24.21 billion, a P/E ratio of 14.96, a PEG ratio of 0.73 and a beta of 2.66. The stock has a 50-day simple moving average of $23.91 and a two-hundred day simple moving average of $23.08. 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 fifty-two week low of $13.78 and a fifty-two week high of $28.72.

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

Analyst Ratings Changes

Several equities analysts have issued reports on CCL shares. Citigroup cut their price target on shares of Carnival Co. & from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Monday. Truist Financial upped their target price on Carnival Co. & from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Stifel Nicolaus increased their price target on Carnival Co. & from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday. Loop Capital dropped their price target on Carnival Co. & from $25.00 to $21.00 and set a “hold” rating on the stock in a research note on Monday. Finally, The Goldman Sachs Group increased their price objective on shares of Carnival Co. & from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Carnival Co. & has an average rating of “Moderate Buy” and an average price target of $26.89.

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.