Pitcairn Co. Trims Holdings in Carnival Co. & plc (NYSE:CCL)

Pitcairn Co. decreased its stake in shares of Carnival Co. & plc (NYSE:CCL) by 17.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 12,417 shares of the company’s stock after selling 2,710 shares during the period. Pitcairn Co.’s holdings in Carnival Co. & were worth $229,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Carnival Co. & in the second quarter worth about $466,838,000. Marshall Wace LLP lifted its stake in Carnival Co. & by 510.5% in the 2nd quarter. Marshall Wace LLP now owns 10,331,092 shares of the company’s stock worth $193,398,000 after purchasing an additional 8,638,865 shares in the last quarter. Mizuho Securities USA LLC lifted its stake in Carnival Co. & by 8,431.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 6,644,000 shares of the company’s stock worth $122,781,000 after purchasing an additional 6,566,120 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Carnival Co. & by 43.6% in the 2nd quarter. Renaissance Technologies LLC now owns 9,585,200 shares of the company’s stock valued at $179,435,000 after purchasing an additional 2,911,100 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of Carnival Co. & by 2,400.1% in the third quarter. International Assets Investment Management LLC now owns 3,010,189 shares of the company’s stock worth $556,280,000 after purchasing an additional 2,889,785 shares during the period. Institutional investors own 67.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on Carnival Co. & from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Morgan Stanley boosted their price objective on Carnival Co. & from $15.00 to $16.50 and gave the stock an “underweight” rating in a report on Tuesday, October 1st. Macquarie raised their target price on shares of Carnival Co. & from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Stifel Nicolaus lifted their target price on shares of Carnival Co. & from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, Bank of America raised their price objective on shares of Carnival Co. & from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Carnival Co. & presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.91.

Insider Activity

In related news, Director Sir Jonathon Band sold 17,500 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $21.72, for a total transaction of $380,100.00. Following the transaction, the director now owns 65,789 shares in the company, valued at $1,428,937.08. The trade was a 21.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 11.00% of the company’s stock.

Carnival Co. & Price Performance

CCL opened at $25.15 on Thursday. The company has a debt-to-equity ratio of 3.10, a current ratio of 0.30 and a quick ratio of 0.26. Carnival Co. & plc has a 1 year low of $13.78 and a 1 year high of $25.80. The stock’s 50 day simple moving average is $21.58 and its 200 day simple moving average is $18.25. The firm has a market cap of $29.03 billion, a price-to-earnings ratio of 22.46 and a beta of 2.66.

Carnival Co. & (NYSE:CCL) last issued its earnings results on Monday, September 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.17 by $0.10. The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.82 billion. Carnival Co. & had a net margin of 6.39% and a return on equity of 22.30%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 earnings per share. As a group, analysts predict that Carnival Co. & plc will post 1.33 earnings per share for the current year.

Carnival Co. & 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.