Perennial Investment Advisors LLC Purchases New Stake in Carnival Co. & plc (NYSE:CCL)

Perennial Investment Advisors LLC acquired a new position in shares of Carnival Co. & plc (NYSE:CCL) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,096 shares of the company’s stock, valued at approximately $277,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Carnival Co. & by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 117,095,566 shares of the company’s stock worth $2,918,022,000 after purchasing an additional 4,458,329 shares during the last quarter. State Street Corp lifted its position in shares of Carnival Co. & by 5.9% in the 3rd quarter. State Street Corp now owns 41,426,562 shares of the company’s stock worth $765,563,000 after buying an additional 2,301,906 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Carnival Co. & by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 25,228,416 shares of the company’s stock valued at $627,053,000 after buying an additional 1,201,256 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Carnival Co. & by 4.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 18,649,543 shares of the company’s stock valued at $464,747,000 after buying an additional 877,694 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Carnival Co. & by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,249,810 shares of the company’s stock worth $155,745,000 after acquiring an additional 223,195 shares during the period. Institutional investors own 67.19% of the company’s stock.

Carnival Co. & Stock Performance

NYSE:CCL opened at $16.49 on Monday. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 2.80. The company has a 50-day moving average of $23.09 and a 200-day moving average of $23.23. Carnival Co. & plc has a twelve month low of $13.78 and a twelve month high of $28.72. The firm has a market cap of $19.24 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 0.73 and a beta of 2.42.

Carnival Co. & (NYSE:CCL) last posted its quarterly earnings results on Friday, March 21st. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.11. The firm had revenue of $5.81 billion for the quarter, compared to analyst estimates of $5.74 billion. Carnival Co. & had a net margin of 7.66% and a return on equity of 24.13%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) earnings per share. Analysts forecast that Carnival Co. & plc will post 1.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

CCL has been the subject of several recent research reports. Morgan Stanley upped their target price on Carnival Co. & from $20.00 to $22.00 and gave the company an “underweight” rating in a report on Wednesday, January 8th. StockNews.com upgraded Carnival Co. & from a “hold” rating to a “buy” rating in a research note on Thursday, March 27th. Wells Fargo & Company raised their target price on Carnival Co. & from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Stifel Nicolaus boosted their price target on shares of Carnival Co. & from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, March 24th. Finally, Citigroup dropped their price objective on shares of Carnival Co. & from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Carnival Co. & has a consensus rating of “Moderate Buy” and a consensus price target of $26.89.

Carnival Co. & 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.