State of Michigan Retirement System Purchases 6,800 Shares of Carnival Co. & plc (NYSE:CCL)

State of Michigan Retirement System raised its position in shares of Carnival Co. & plc (NYSE:CCL) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 281,944 shares of the company’s stock after buying an additional 6,800 shares during the quarter. State of Michigan Retirement System’s holdings in Carnival Co. & were worth $7,026,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Plato Investment Management Ltd bought a new stake in Carnival Co. & during the fourth quarter valued at $245,000. SBI Securities Co. Ltd. bought a new stake in Carnival Co. & during the fourth quarter valued at $5,801,000. Jones Financial Companies Lllp boosted its position in Carnival Co. & by 32.0% during the fourth quarter. Jones Financial Companies Lllp now owns 104,581 shares of the company’s stock valued at $2,606,000 after acquiring an additional 25,328 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Carnival Co. & by 193.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 10,129 shares of the company’s stock valued at $254,000 after acquiring an additional 6,674 shares during the last quarter. Finally, Metis Global Partners LLC raised its holdings in shares of Carnival Co. & by 8.0% during the fourth quarter. Metis Global Partners LLC now owns 34,979 shares of the company’s stock valued at $872,000 after purchasing an additional 2,586 shares during the period. Institutional investors own 67.19% of the company’s stock.

Carnival Co. & Trading Down 6.7 %

NYSE:CCL opened at $20.84 on Friday. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.25 and a current ratio of 0.29. The firm has a market cap of $24.26 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 0.73 and a beta of 2.66. Carnival Co. & plc has a 52 week low of $13.78 and a 52 week high of $28.72. The firm has a 50-day moving average price of $25.16 and a two-hundred day moving average price of $22.64.

Carnival Co. & (NYSE:CCL) last posted its quarterly earnings data on Friday, December 20th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.08 by $0.06. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.94 billion. Carnival Co. & had a net margin of 7.66% and a return on equity of 24.13%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.07) EPS. On average, equities analysts expect that Carnival Co. & plc will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CCL shares. Morgan Stanley upped their price objective on shares of Carnival Co. & from $20.00 to $22.00 and gave the company an “underweight” rating in a report on Wednesday, January 8th. Truist Financial upped their price objective on shares of Carnival Co. & from $29.00 to $30.00 and gave the company a “hold” rating in a report on Friday, January 24th. Barclays upped their price objective on shares of Carnival Co. & from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Wells Fargo & Company upped their price objective on shares of Carnival Co. & from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Sanford C. Bernstein started coverage on shares of Carnival Co. & in a report on Tuesday, November 26th. They set a “market perform” rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen 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 a consensus price target of $27.11.

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.