Sprucegrove Investment Management Ltd. Lowers Stock Position in Carnival Co. & plc (NYSE:CCL)

Sprucegrove Investment Management Ltd. reduced its stake in shares of Carnival Co. & plc (NYSE:CCL) by 30.8% during the first quarter, Holdings Channel reports. The institutional investor owned 1,806,542 shares of the company’s stock after selling 804,100 shares during the period. Carnival Co. & comprises 1.2% of Sprucegrove Investment Management Ltd.’s holdings, making the stock its 26th biggest position. Sprucegrove Investment Management Ltd.’s holdings in Carnival Co. & were worth $47,946,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CCL. Comerica Bank lifted its position in shares of Carnival Co. & by 24.8% during the 4th quarter. Comerica Bank now owns 138,128 shares of the company’s stock valued at $2,793,000 after buying an additional 27,443 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Carnival Co. & by 68.0% during the 4th quarter. Parallel Advisors LLC now owns 8,703 shares of the company’s stock valued at $189,000 after buying an additional 3,522 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Carnival Co. & by 6.7% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 88,812 shares of the company’s stock valued at $1,924,000 after buying an additional 5,601 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Carnival Co. & by 7.3% in the 4th quarter. California Public Employees Retirement System now owns 1,160,367 shares of the company’s stock worth $25,134,000 after purchasing an additional 78,941 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Carnival Co. & by 37.5% in the 4th quarter. Treasurer of the State of North Carolina now owns 252,070 shares of the company’s stock worth $5,460,000 after purchasing an additional 68,760 shares in the last quarter. 52.65% of the stock is currently owned by hedge funds and other institutional investors.

CCL has been the topic of a number of research analyst reports. Macquarie raised Carnival Co. & from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 2nd. Berenberg Bank boosted their price target on Carnival Co. & from $14.00 to $20.00 and gave the stock a “sell” rating in a report on Wednesday, April 21st. Truist Securities boosted their price target on Carnival Co. & from $14.00 to $16.00 in a report on Monday, March 15th. UBS Group raised Carnival Co. & from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $20.00 to $42.00 in a report on Thursday, March 18th. Finally, Citigroup assumed coverage on Carnival Co. & in a report on Thursday, April 1st. They issued a “buy” rating and a $30.00 price target on the stock. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $25.47.

Shares of NYSE CCL traded down $0.26 during trading hours on Friday, hitting $29.57. 355,730 shares of the company traded hands, compared to its average volume of 36,476,086. The company has a market capitalization of $28.79 billion, a PE ratio of -2.14 and a beta of 2.33. The company has a quick ratio of 1.41, a current ratio of 1.45 and a debt-to-equity ratio of 1.34. The firm’s 50 day moving average is $28.03. Carnival Co. & plc has a 12 month low of $12.11 and a 12 month high of $31.52.

Carnival Co. & (NYSE:CCL) last released its earnings results on Tuesday, April 6th. The company reported ($1.79) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.54) by ($0.25). The company had revenue of $26.00 million for the quarter, compared to the consensus estimate of $108.00 million. Carnival Co. & had a negative net margin of 1,375.09% and a negative return on equity of 39.14%. Sell-side analysts forecast that Carnival Co. & plc will post -5.48 EPS for the current fiscal year.

In other Carnival Co. & news, Director Randall J. Weisenburger sold 100,000 shares of the company’s stock in a transaction on Friday, April 16th. The stock was sold at an average price of $27.50, for a total value of $2,750,000.00. Following the transaction, the director now owns 754,605 shares of the company’s stock, valued at approximately $20,751,637.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Randall J. Weisenburger sold 88,762 shares of the company’s stock in a transaction on Wednesday, April 14th. The shares were sold at an average price of $28.07, for a total value of $2,491,549.34. Following the completion of the transaction, the director now directly owns 1,304,605 shares in the company, valued at approximately $36,620,262.35. The disclosure for this sale can be found here. Corporate insiders own 13.30% of the company’s stock.

Carnival Co. & Company Profile

Carnival Corporation & plc operates as a leisure travel company. Its ships visit approximately 700 ports under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa Cruises, AIDA Cruises, P&O Cruises (UK), and Cunard brand names. The company also provides port destinations and other services, as well as owns and operates hotels, lodges, glass-domed railcars, and motor coaches.

See Also: Net Income

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

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