Shellback Capital LP Reduces Stake in Carnival Co. & plc (NYSE:CCL)

Shellback Capital LP cut its holdings in shares of Carnival Co. & plc (NYSE:CCL) by 25.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 425,000 shares of the company’s stock after selling 143,312 shares during the quarter. Shellback Capital LP’s holdings in Carnival Co. & were worth $10,591,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CCL. Rafferty Asset Management LLC grew its position in Carnival Co. & by 1.1% during the 4th quarter. Rafferty Asset Management LLC now owns 115,279 shares of the company’s stock worth $2,873,000 after purchasing an additional 1,214 shares during the period. Raiffeisen Bank International AG acquired a new position in Carnival Co. & in the fourth quarter valued at approximately $164,000. Quantinno Capital Management LP boosted its position in Carnival Co. & by 29.6% in the 4th quarter. Quantinno Capital Management LP now owns 271,985 shares of the company’s stock worth $6,778,000 after purchasing an additional 62,149 shares in the last quarter. Mufg Securities Americas Inc. purchased a new stake in Carnival Co. & in the 4th quarter worth approximately $382,000. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in shares of Carnival Co. & by 3.3% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 125,493 shares of the company’s stock valued at $3,147,000 after purchasing an additional 4,033 shares in the last quarter. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCL has been the subject of a number of recent analyst reports. Tigress Financial reaffirmed a “buy” rating on shares of Carnival Co. & in a report on Wednesday, March 26th. Morgan Stanley raised Carnival Co. & from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $25.00 to $21.00 in a report on Thursday, April 10th. BNP Paribas initiated coverage on Carnival Co. & in a report on Thursday, March 27th. They issued an “outperform” rating and a $26.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of Carnival Co. & in a research note on Monday, March 10th. Finally, Citigroup dropped their price target on shares of Carnival Co. & from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Carnival Co. & currently has an average rating of “Moderate Buy” and an average price target of $26.68.

Carnival Co. & Stock Performance

Shares of CCL opened at $22.99 on Friday. Carnival Co. & plc has a 12-month low of $13.78 and a 12-month high of $28.72. The firm has a market capitalization of $26.82 billion, a P/E ratio of 16.54, a P/E/G ratio of 0.73 and a beta of 2.50. The firm has a 50-day moving average price of $19.36 and a 200 day moving average price of $23.01. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 2.80.

Carnival Co. & (NYSE:CCL) last released its quarterly earnings results on Friday, March 21st. The company reported $0.13 EPS for the quarter, beating 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 business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.14) EPS. Sell-side analysts forecast that Carnival Co. & plc will post 1.77 EPS for the current year.

About Carnival Co. &

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.