abrdn plc Buys 172,185 Shares of Carnival Co. & plc (NYSE:CCL)

abrdn plc grew its stake in shares of Carnival Co. & plc (NYSE:CCL) by 70.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 417,125 shares of the company’s stock after purchasing an additional 172,185 shares during the period. abrdn plc’s holdings in Carnival Co. & were worth $7,733,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wealthfront Advisers LLC boosted its stake in shares of Carnival Co. & by 447.6% during the 3rd quarter. Wealthfront Advisers LLC now owns 215,672 shares of the company’s stock valued at $2,959,000 after purchasing an additional 176,286 shares in the last quarter. Bellwether Advisors LLC bought a new stake in Carnival Co. & during the fourth quarter worth about $1,368,000. Patton Fund Management Inc. boosted its stake in Carnival Co. & by 981.9% during the third quarter. Patton Fund Management Inc. now owns 109,133 shares of the company’s stock worth $1,497,000 after acquiring an additional 99,046 shares in the last quarter. Nordea Investment Management AB boosted its stake in Carnival Co. & by 126.1% during the fourth quarter. Nordea Investment Management AB now owns 740,750 shares of the company’s stock worth $13,782,000 after acquiring an additional 413,082 shares in the last quarter. Finally, Blackstone Inc. boosted its stake in Carnival Co. & by 50.8% during the third quarter. Blackstone Inc. now owns 3,000,000 shares of the company’s stock worth $41,160,000 after acquiring an additional 1,010,000 shares in the last quarter. Institutional investors own 67.19% of the company’s stock.

Insiders Place Their Bets

In other news, CFO David Bernstein sold 153,995 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $15.37, for a total value of $2,366,903.15. Following the sale, the chief financial officer now directly owns 181,981 shares in the company, valued at approximately $2,797,047.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on CCL shares. Macquarie boosted their price objective on shares of Carnival Co. & from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. William Blair reissued an “outperform” rating on shares of Carnival Co. & in a research note on Monday, April 22nd. Tigress Financial boosted their price objective on shares of Carnival Co. & from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Barclays lifted their target price on shares of Carnival Co. & from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Wells Fargo & Company raised shares of Carnival Co. & from an “equal weight” rating to an “overweight” rating and set a $22.00 target price for the company in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Carnival Co. & currently has an average rating of “Moderate Buy” and a consensus price target of $21.47.

Carnival Co. & Trading Down 0.6 %

CCL stock opened at $15.09 on Friday. The company has a debt-to-equity ratio of 4.27, a current ratio of 0.36 and a quick ratio of 0.32. Carnival Co. & plc has a 12 month low of $8.72 and a 12 month high of $19.74. The firm’s 50-day moving average is $15.58 and its 200 day moving average is $15.46. The company has a market capitalization of $16.93 billion, a PE ratio of 58.02 and a beta of 2.54.

Carnival Co. & (NYSE:CCL) last issued its earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.04. Carnival Co. & had a net margin of 1.79% and a return on equity of 7.75%. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same period in the prior year, the business earned ($0.55) EPS. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. On average, research analysts anticipate that Carnival Co. & plc will post 1.02 EPS 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.