State Board of Administration of Florida Retirement System Boosts Position in Carnival Co. & plc (NYSE:CCL)

Posted by on May 10th, 2023

State Board of Administration of Florida Retirement System increased its stake in Carnival Co. & plc (NYSE:CCL – Get Rating) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 998,958 shares of the company’s stock after buying an additional 2,060 shares during the period. State Board of Administration of Florida Retirement System owned 0.09% of Carnival Co. & worth $8,052,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Carnival Co. & by 19.5% during the 3rd quarter. Vanguard Group Inc. now owns 109,251,208 shares of the company’s stock worth $768,036,000 after acquiring an additional 17,815,226 shares in the last quarter. Legal & General Group Plc grew its holdings in Carnival Co. & by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 5,011,927 shares of the company’s stock worth $43,354,000 after acquiring an additional 43,372 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Carnival Co. & by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,734,230 shares of the company’s stock worth $95,697,000 after acquiring an additional 93,169 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Carnival Co. & by 6.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,550,068 shares of the company’s stock worth $92,003,000 after acquiring an additional 262,027 shares in the last quarter. Finally, Credit Suisse AG grew its holdings in Carnival Co. & by 175.2% during the 3rd quarter. Credit Suisse AG now owns 4,491,384 shares of the company’s stock worth $31,574,000 after acquiring an additional 2,859,415 shares in the last quarter. Hedge funds and other institutional investors own 49.87% of the company’s stock.

Carnival Co. & Stock Performance

CCL opened at $10.65 on Wednesday. Carnival Co. & plc has a 12-month low of $6.11 and a 12-month high of $15.03. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 5.30. The firm has a market capitalization of $11.89 billion, a PE ratio of -2.61 and a beta of 2.22. The firm has a 50 day moving average of $9.66 and a two-hundred day moving average of $9.74.

Carnival Co. & (NYSE:CCL – Get Rating) last posted its quarterly earnings results on Monday, March 27th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.05. Carnival Co. & had a negative net margin of 32.68% and a negative return on equity of 57.75%. The company had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the firm posted ($1.65) EPS. Carnival Co. &’s revenue for the quarter was up 173.1% compared to the same quarter last year. On average, analysts anticipate that Carnival Co. & plc will post -0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Credit Suisse Group increased their target price on shares of Carnival Co. & from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Monday, March 27th. Morgan Stanley increased their target price on shares of Carnival Co. & from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Tuesday, January 10th. Wells Fargo & Company upgraded shares of Carnival Co. & from an “underweight” rating to an “equal weight” rating and set a $9.00 price target on the stock in a report on Tuesday, March 28th. JPMorgan Chase & Co. started coverage on shares of Carnival Co. & in a report on Friday, April 28th. They issued a “neutral” rating and a $11.00 price target on the stock. Finally, Susquehanna upgraded shares of Carnival Co. & from a “neutral” rating to a “positive” rating and set a $11.00 price target on the stock in a report on Wednesday, March 29th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.45.

Insiders Place Their Bets

In other Carnival Co. & news, CFO David Bernstein sold 107,119 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $11.08, for a total transaction of $1,186,878.52. Following the completion of the transaction, 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 accessible through this link. 11.10% of the stock is currently owned by insiders.

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.

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Institutional Ownership by Quarter for Carnival Co. & (NYSE:CCL)

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