Alhambra Investment Management LLC Lowers Stock Holdings in Carnival Co. & plc (NYSE:CCL)

Alhambra Investment Management LLC cut its holdings in shares of Carnival Co. & plc (NYSE:CCL - Free Report) by 51.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,957 shares of the company's stock after selling 11,617 shares during the period. Alhambra Investment Management LLC's holdings in Carnival Co. & were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Carnival Co. & by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 117,095,566 shares of the company's stock valued at $2,918,022,000 after acquiring an additional 4,458,329 shares during the last quarter. Geode Capital Management LLC increased its position in Carnival Co. & by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 25,228,416 shares of the company's stock worth $627,053,000 after buying an additional 1,201,256 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Carnival Co. & by 33.7% in the fourth quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company's stock valued at $569,423,000 after purchasing an additional 5,761,489 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Carnival Co. & by 4.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 18,649,543 shares of the company's stock valued at $464,747,000 after purchasing an additional 877,694 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Carnival Co. & by 17.7% in the fourth quarter. Renaissance Technologies LLC now owns 18,097,001 shares of the company's stock valued at $450,977,000 after buying an additional 2,720,096 shares during the period. 67.19% of the stock is currently owned by institutional investors.

Carnival Co. & Stock Performance

CCL stock traded down $1.18 during midday trading on Friday, reaching $22.39. 36,856,661 shares of the company's stock traded hands, compared to its average volume of 25,389,927. The firm has a market capitalization of $26.12 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 0.73 and a beta of 2.58. Carnival Co. & plc has a 52 week low of $13.78 and a 52 week high of $28.72. The company has a 50-day moving average price of $20.92 and a two-hundred day moving average price of $22.93. 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. & (NYSE:CCL - Get Free Report) last released its quarterly earnings results on Friday, March 21st. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.11. The business had revenue of $5.81 billion for the quarter, compared to the consensus estimate of $5.74 billion. Carnival Co. & had a return on equity of 24.13% and a net margin of 7.66%. The company's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) earnings per share. As a group, equities analysts anticipate that Carnival Co. & plc will post 1.77 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CCL. Macquarie cut their price target on Carnival Co. & from $31.00 to $26.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. William Blair reaffirmed an "outperform" rating on shares of Carnival Co. & in a report on Monday, March 10th. Barclays cut their target price on Carnival Co. & from $32.00 to $26.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. BNP Paribas began coverage on Carnival Co. & in a research report on Thursday, March 27th. They issued an "outperform" rating and a $26.00 price objective for the company. Finally, Wall Street Zen raised Carnival Co. & from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.58.

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.