Patton Fund Management Inc. Takes Position in Carnival Co. & plc (NYSE:CCL)

Patton Fund Management Inc. acquired a new position in shares of Carnival Co. & plc (NYSE:CCL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 229,847 shares of the company’s stock, valued at approximately $5,728,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Carnival Co. & during the third quarter worth about $25,000. Assetmark Inc. grew its stake in Carnival Co. & by 1,431.5% in the 3rd quarter. Assetmark Inc. now owns 1,654 shares of the company’s stock worth $31,000 after acquiring an additional 1,546 shares during the period. CVA Family Office LLC raised its holdings in Carnival Co. & by 163.9% in the 3rd quarter. CVA Family Office LLC now owns 1,940 shares of the company’s stock valued at $36,000 after acquiring an additional 1,205 shares during the last quarter. Morse Asset Management Inc purchased a new position in shares of Carnival Co. & during the 3rd quarter worth $46,000. Finally, Avior Wealth Management LLC boosted its holdings in shares of Carnival Co. & by 50.7% during the third quarter. Avior Wealth Management LLC now owns 2,747 shares of the company’s stock worth $51,000 after purchasing an additional 924 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Co. & Price Performance

CCL stock opened at $27.75 on Wednesday. The stock has a 50-day simple moving average of $25.41 and a 200-day simple moving average of $21.06. The firm has a market cap of $32.02 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 0.80 and a beta of 2.64. 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 $27.82.

Carnival Co. & (NYSE:CCL) last issued its quarterly earnings data on Friday, December 20th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.06. Carnival Co. & had a net margin of 7.66% and a return on equity of 24.13%. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter last year, the company earned ($0.07) earnings per share. Carnival Co. &’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts predict that Carnival Co. & plc will post 1.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CCL shares. Mizuho upped their target price on Carnival Co. & from $26.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. The Goldman Sachs Group increased their price objective on shares of Carnival Co. & from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company upped their price target on shares of Carnival Co. & from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Macquarie lifted their price target on shares of Carnival Co. & from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, Truist Financial upped their price objective on Carnival Co. & from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.24.

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.