Zurich Insurance Group Ltd FI Takes Position in Carnival Co. & plc (NYSE:CCL)

Zurich Insurance Group Ltd FI bought a new stake in Carnival Co. & plc (NYSE:CCL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,046,759 shares of the company’s stock, valued at approximately $100,845,000. Carnival Co. & accounts for approximately 0.8% of Zurich Insurance Group Ltd FI’s portfolio, making the stock its 28th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Measured Risk Portfolios Inc. purchased a new position in Carnival Co. & in the 4th quarter valued at $29,000. Crewe Advisors LLC boosted its position in shares of Carnival Co. & by 275.8% during the 4th quarter. Crewe Advisors LLC now owns 1,210 shares of the company’s stock worth $30,000 after purchasing an additional 888 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Carnival Co. & during the 4th quarter worth $34,000. Millstone Evans Group LLC purchased a new stake in shares of Carnival Co. & during the 4th quarter worth $34,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Carnival Co. & during the 4th quarter worth $42,000. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CCL. Macquarie decreased their target price on shares of Carnival Co. & from $31.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. Hsbc Global Res upgraded shares of Carnival Co. & from a “moderate sell” rating to a “hold” rating in a research report on Friday. Citigroup decreased their price objective on shares of Carnival Co. & from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. HSBC upgraded shares of Carnival Co. & from a “reduce” rating to a “hold” rating and set a $24.00 target price on the stock in a report on Friday. Finally, StockNews.com upgraded shares of Carnival Co. & from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.53.

Carnival Co. & Stock Performance

CCL stock opened at $23.38 on Tuesday. The stock has a market capitalization of $27.28 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 0.73 and a beta of 2.50. 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 1 year low of $13.78 and a 1 year high of $28.72. The stock’s fifty day moving average is $19.53 and its two-hundred day moving average is $23.05.

Carnival Co. & (NYSE:CCL) last issued its quarterly earnings results on Friday, March 21st. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. The company had revenue of $5.81 billion for the quarter, compared to analyst estimates of $5.74 billion. Carnival Co. & had a return on equity of 24.13% and a net margin of 7.66%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company earned ($0.14) earnings per share. On average, research analysts predict that Carnival Co. & plc will post 1.77 EPS for the current year.

Carnival Co. & 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.