Zurcher Kantonalbank Zurich Cantonalbank Has $3 Million Stake in Carnival Co. & plc (NYSE:CCL)

Posted by Defense World Staff on Apr 23rd, 2023

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Carnival Co. & plc (NYSE:CCL – Get Rating) by 35.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 372,158 shares of the company’s stock after buying an additional 96,868 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Carnival Co. & were worth $3,000,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CCL. Accurate Wealth Management LLC bought a new stake in Carnival Co. & during the fourth quarter valued at about $26,000. Macroview Investment Management LLC bought a new stake in Carnival Co. & during the fourth quarter valued at about $26,000. Parkside Financial Bank & Trust boosted its holdings in Carnival Co. & by 69.8% during the third quarter. Parkside Financial Bank & Trust now owns 4,147 shares of the company’s stock valued at $29,000 after acquiring an additional 1,705 shares during the period. Spire Wealth Management boosted its holdings in Carnival Co. & by 58.3% during the third quarter. Spire Wealth Management now owns 4,376 shares of the company’s stock valued at $31,000 after acquiring an additional 1,612 shares during the period. Finally, Federated Hermes Inc. bought a new stake in Carnival Co. & during the third quarter valued at about $43,000. 49.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCL has been the subject of a number of recent analyst reports. Macquarie upped their price target on shares of Carnival Co. & from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, April 5th. Credit Suisse Group increased their target price on shares of Carnival Co. & from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Monday, March 27th. Susquehanna upgraded shares of Carnival Co. & from a “neutral” rating to a “positive” rating and set a $11.00 target price for the company in a research note on Wednesday, March 29th. Barclays increased their target price on shares of Carnival Co. & from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Tuesday, March 28th. Finally, Morgan Stanley increased their target price on shares of Carnival Co. & from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Tuesday, January 10th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.58.

Insider Activity at Carnival Co. &

In related news, CFO David Bernstein sold 107,119 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $11.08, for a total value of $1,186,878.52. Following the sale, the chief financial officer now directly owns 286,041 shares of the company’s stock, valued at approximately $3,169,334.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.10% of the stock is currently owned by insiders.

Carnival Co. & Price Performance

CCL opened at $9.38 on Friday. The company has a fifty day moving average price of $10.07 and a two-hundred day moving average price of $9.53. The firm has a market capitalization of $10.47 billion, a PE ratio of -2.30 and a beta of 2.22. Carnival Co. & plc has a 52 week low of $6.11 and a 52 week high of $19.68. The company has a debt-to-equity ratio of 5.30, a quick ratio of 0.60 and a current ratio of 0.64.

Carnival Co. & (NYSE:CCL – Get Rating) last announced its quarterly earnings results on Monday, March 27th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.05. The company had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Carnival Co. & had a negative net margin of 32.68% and a negative return on equity of 57.75%. The business’s quarterly revenue was up 173.1% compared to the same quarter last year. During the same period last year, the firm posted ($1.65) earnings per share. As a group, analysts anticipate that Carnival Co. & plc will post -0.3 earnings per share for the current year.

Carnival Co. & Profile

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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.