Pictet Asset Management Holding SA Reduces Stock Position in Carnival Co. & plc (NYSE:CCL)

Pictet Asset Management Holding SA cut its stake in Carnival Co. & plc (NYSE:CCL) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 422,103 shares of the company’s stock after selling 22,127 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Carnival Co. & were worth $10,519,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its position in shares of Carnival Co. & by 3.2% during the third quarter. FMR LLC now owns 3,454,462 shares of the company’s stock valued at $63,838,000 after buying an additional 107,481 shares during the period. Townsquare Capital LLC lifted its stake in Carnival Co. & by 18.9% in the 3rd quarter. Townsquare Capital LLC now owns 13,329 shares of the company’s stock worth $246,000 after purchasing an additional 2,122 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in Carnival Co. & by 3.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 40,675 shares of the company’s stock valued at $752,000 after purchasing an additional 1,396 shares during the period. Public Sector Pension Investment Board grew its position in shares of Carnival Co. & by 13.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 43,964 shares of the company’s stock valued at $812,000 after purchasing an additional 5,200 shares in the last quarter. Finally, Martingale Asset Management L P bought a new position in shares of Carnival Co. & in the third quarter worth $411,000. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Carnival Co. & Stock Up 3.1 %

Shares of Carnival Co. & stock opened at $20.00 on Thursday. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.25 and a current ratio of 0.29. Carnival Co. & plc has a 52-week low of $13.78 and a 52-week high of $28.72. The company’s 50 day moving average price is $23.43 and its 200-day moving average price is $23.21. The stock has a market capitalization of $23.33 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 0.73 and a beta of 2.66.

Carnival Co. & (NYSE:CCL) last announced its quarterly earnings results on Friday, March 21st. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.11. The business 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 company’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.14) EPS. Equities research analysts forecast that Carnival Co. & plc will post 1.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Citigroup reduced their target price on Carnival Co. & from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Barclays upped their price objective on shares of Carnival Co. & from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Mizuho lifted their target price on shares of Carnival Co. & from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, March 24th. Tigress Financial reissued a “buy” rating on shares of Carnival Co. & in a report on Wednesday, March 26th. Finally, William Blair reaffirmed an “outperform” rating on shares of Carnival Co. & in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.89.

Carnival Co. & Company 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.