CIBC Asset Management Inc Increases Stock Holdings in Carnival Co. & plc (NYSE:CCL)

CIBC Asset Management Inc lifted its stake in shares of Carnival Co. & plc (NYSE:CCL) by 8.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,447 shares of the company’s stock after buying an additional 11,460 shares during the period. CIBC Asset Management Inc’s holdings in Carnival Co. & were worth $2,780,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CCL. Ashton Thomas Securities LLC purchased a new position in Carnival Co. & during the 3rd quarter worth approximately $25,000. Family Firm Inc. purchased a new stake in shares of Carnival Co. & in the second quarter worth about $26,000. Hantz Financial Services Inc. acquired a new position in Carnival Co. & in the second quarter valued at approximately $30,000. Assetmark Inc. increased its holdings in shares of Carnival Co. & by 1,431.5% during the 3rd quarter. Assetmark Inc. now owns 1,654 shares of the company’s stock valued at $31,000 after purchasing an additional 1,546 shares in the last quarter. Finally, CVA Family Office LLC lifted its stake in shares of Carnival Co. & by 163.9% in the 3rd quarter. CVA Family Office LLC now owns 1,940 shares of the company’s stock valued at $36,000 after purchasing an additional 1,205 shares during the period. 67.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Sir Jonathon Band sold 17,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $21.72, for a total value of $380,100.00. Following the completion of the transaction, the director now owns 65,789 shares of the company’s stock, valued at $1,428,937.08. The trade was a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.00% of the stock is owned by company insiders.

Carnival Co. & Price Performance

Shares of NYSE CCL opened at $24.51 on Tuesday. The stock has a 50 day moving average of $20.48 and a two-hundred day moving average of $17.75. The stock has a market cap of $28.29 billion, a P/E ratio of 21.88 and a beta of 2.66. Carnival Co. & plc has a twelve month low of $13.78 and a twelve month high of $24.99. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 3.10.

Carnival Co. & (NYSE:CCL) last issued its earnings results on Monday, September 30th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.10. Carnival Co. & had a net margin of 6.39% and a return on equity of 22.30%. The business had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, research analysts forecast that Carnival Co. & plc will post 1.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on CCL. Hsbc Global Res upgraded Carnival Co. & to a “moderate sell” rating in a research report on Tuesday, September 3rd. Morgan Stanley upped their price target on shares of Carnival Co. & from $15.00 to $16.50 and gave the stock an “underweight” rating in a research report on Tuesday, October 1st. Barclays raised their target price on Carnival Co. & from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on shares of Carnival Co. & from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Citigroup upped their price target on Carnival Co. & from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.78.

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.