Carnival Co. & plc (NYSE:CCL) Holdings Cut by Formula Growth Ltd.

Formula Growth Ltd. reduced its stake in shares of Carnival Co. & plc (NYSE:CCL) by 46.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 140,500 shares of the company’s stock after selling 119,500 shares during the period. Formula Growth Ltd.’s holdings in Carnival Co. & were worth $3,501,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CCL. Crewe Advisors LLC increased its position in Carnival Co. & by 275.8% in the 4th quarter. Crewe Advisors LLC now owns 1,210 shares of the company’s stock worth $30,000 after purchasing an additional 888 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Carnival Co. & in the 4th quarter valued at approximately $34,000. Millstone Evans Group LLC acquired a new position in Carnival Co. & in the fourth quarter worth approximately $34,000. 1620 Investment Advisors Inc. acquired a new stake in Carnival Co. & in the fourth quarter valued at approximately $42,000. Finally, Morse Asset Management Inc bought a new stake in Carnival Co. & in the third quarter worth approximately $46,000. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival Co. & Price Performance

Shares of Carnival Co. & stock opened at $17.94 on Friday. The firm has a market cap of $20.93 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 0.73 and a beta of 2.42. The firm’s 50-day simple moving average is $20.87 and its 200-day simple moving average is $23.08. Carnival Co. & plc has a twelve month low of $13.78 and a twelve month high of $28.72. 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. & (NYSE:CCL) last released its quarterly earnings data on Friday, March 21st. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. The company had revenue of $5.81 billion for the quarter, compared to the consensus estimate of $5.74 billion. Carnival Co. & had a return on equity of 24.13% and a net margin of 7.66%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.14) earnings per share. As a group, research analysts expect that Carnival Co. & plc will post 1.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CCL shares. William Blair restated an “outperform” rating on shares of Carnival Co. & in a report on Monday, March 10th. Barclays upped their price target on Carnival Co. & from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Stifel Nicolaus raised their price objective on Carnival Co. & from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, March 24th. Tigress Financial restated a “buy” rating on shares of Carnival Co. & in a report on Wednesday, March 26th. Finally, Mizuho increased their price target on Carnival Co. & from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, March 24th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.84.

About Carnival Co. &

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.