Davis Capital Management Acquires 9,000 Shares of Carnival Co. & plc (NYSE:CCL)

Davis Capital Management raised its position in Carnival Co. & plc (NYSE:CCL) by 1,333.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,675 shares of the company’s stock after purchasing an additional 9,000 shares during the period. Davis Capital Management’s holdings in Carnival Co. & were worth $171,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CCL. TCW Group Inc. bought a new stake in shares of Carnival Co. & during the 4th quarter valued at about $280,000. Empowered Funds LLC increased its position in shares of Carnival Co. & by 29.4% during the 1st quarter. Empowered Funds LLC now owns 16,467 shares of the company’s stock valued at $269,000 after purchasing an additional 3,741 shares during the last quarter. Merit Financial Group LLC increased its position in shares of Carnival Co. & by 29.4% during the 4th quarter. Merit Financial Group LLC now owns 12,956 shares of the company’s stock valued at $240,000 after purchasing an additional 2,944 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in Carnival Co. & by 5.7% in the 4th quarter. Great Valley Advisor Group Inc. now owns 18,066 shares of the company’s stock worth $335,000 after acquiring an additional 981 shares in the last quarter. Finally, AGF Management Ltd. purchased a new stake in Carnival Co. & in the 4th quarter worth approximately $435,000. 67.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CCL has been the subject of several recent analyst reports. Argus upped their price target on Carnival Co. & from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Bank of America increased their target price on Carnival Co. & from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Susquehanna reiterated a “positive” rating and set a $22.00 target price on shares of Carnival Co. & in a research report on Wednesday, June 26th. Wells Fargo & Company increased their target price on Carnival Co. & from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Finally, Truist Financial increased their target price on Carnival Co. & from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.11.

Carnival Co. & Stock Down 6.1 %

Shares of Carnival Co. & stock traded down $0.96 during trading on Friday, hitting $14.80. 44,420,021 shares of the stock traded hands, compared to its average volume of 26,713,284. The firm has a market cap of $16.61 billion, a P/E ratio of 22.77 and a beta of 2.68. The company has a current ratio of 0.28, a quick ratio of 0.24 and a debt-to-equity ratio of 3.99. Carnival Co. & plc has a 52-week low of $10.84 and a 52-week high of $19.74. The stock’s fifty day simple moving average is $17.04 and its 200 day simple moving average is $16.06.

Carnival Co. & (NYSE:CCL) last issued its quarterly earnings data on Tuesday, June 25th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. Carnival Co. & had a return on equity of 15.22% and a net margin of 3.86%. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter last year, the company earned ($0.31) earnings per share. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities analysts predict that Carnival Co. & plc will post 1.18 earnings per share for the current fiscal year.

Carnival Co. & Company 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.