Bank of New York Mellon Corp Increases Holdings in Carnival Co. & plc (NYSE:CCL)

Bank of New York Mellon Corp increased its stake in shares of Carnival Co. & plc (NYSE:CCL) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,841,543 shares of the company’s stock after buying an additional 19,768 shares during the quarter. Bank of New York Mellon Corp’s holdings in Carnival Co. & were worth $145,571,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hartford Investment Management Co. raised its position in Carnival Co. & by 0.6% in the fourth quarter. Hartford Investment Management Co. now owns 64,231 shares of the company’s stock valued at $1,601,000 after purchasing an additional 387 shares during the period. Encompass Wealth Advisors LLC raised its position in Carnival Co. & by 2.9% in the third quarter. Encompass Wealth Advisors LLC now owns 16,079 shares of the company’s stock valued at $297,000 after purchasing an additional 451 shares during the period. Avidian Wealth Enterprises LLC raised its position in Carnival Co. & by 4.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 10,698 shares of the company’s stock valued at $267,000 after purchasing an additional 468 shares during the period. Wealthcare Advisory Partners LLC raised its position in Carnival Co. & by 1.1% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 49,108 shares of the company’s stock valued at $1,224,000 after purchasing an additional 521 shares during the period. Finally, Graypoint LLC raised its position in Carnival Co. & by 5.3% in the fourth quarter. Graypoint LLC now owns 11,074 shares of the company’s stock valued at $276,000 after purchasing an additional 560 shares during the period. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Analysts Set New Price Targets

CCL has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Carnival Co. & from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley lifted their target price on Carnival Co. & from $20.00 to $22.00 and gave the company an “underweight” rating in a research report on Wednesday, January 8th. Truist Financial lifted their price objective on Carnival Co. & from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their price objective on Carnival Co. & from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, Loop Capital initiated coverage on Carnival Co. & in a research note on Tuesday, February 4th. They issued a “hold” rating and a $25.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.11.

Carnival Co. & Trading Up 1.8 %

CCL opened at $23.93 on Friday. The stock has a market capitalization of $27.86 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 0.73 and a beta of 2.64. The company has a debt-to-equity ratio of 2.80, a current ratio of 0.29 and a quick ratio of 0.25. The business has a fifty day moving average price of $25.45 and a 200 day moving average price of $22.45. Carnival Co. & plc has a 12 month low of $13.78 and a 12 month high of $28.72.

Carnival Co. & (NYSE:CCL) last announced its quarterly earnings results on Friday, December 20th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.94 billion. Carnival Co. & had a return on equity of 24.13% and a net margin of 7.66%. Carnival Co. &’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) EPS. Sell-side analysts expect that Carnival Co. & plc will post 1.77 earnings per share for the current fiscal year.

Carnival Co. & Company 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.