Toronto Dominion Bank Increases Stake in Carnival Co. & plc

Toronto Dominion Bank has increased its position in Carnival Co. & plc (NYSE:CCL - Free Report) by 3.9% during the third quarter, as revealed in its latest 13F filing with the Securities and Exchange Commission (SEC). The bank now holds 557,811 shares of Carnival's stock after purchasing an additional 20,773 shares during this period. At the close of the reporting period, these shares were valued at approximately $10,308,000.

Other institutional investors have also adjusted their stakes in Carnival Co. & plc. For instance, Ashton Thomas Securities LLC established a new position in the company during the third quarter at an estimated worth of $25,000. Family Firm Inc. did the same in the second quarter, acquiring shares valued at around $26,000. Moreover, Hantz Financial Services Inc. entered a new stake during the second quarter, valued at $30,000.

Assetmark Inc. made a significant increase in its holdings, raising its stake in Carnival Co. & plc by an astonishing 1,431.5% during the third quarter, resulting in ownership of 1,654 shares valued at $31,000 after an additional purchase of 1,546 shares. CVA Family Office LLC also boosted its position by 163.9% during the third quarter, now owning 1,940 shares valued at $36,000 following the purchase of an additional 1,205 shares during the same period. Altogether, institutional investors currently own 67.19% of the Carnival stock.

Analysts Adjust Price Targets

Various analysts have recently shared their forecasts for Carnival Co. & plc. Tigress Financial raised its price target from $25.00 to $28.00 and assigned the stock a "buy" rating on October 7th. Similarly, Truist Financial increased its target from $20.00 to $29.00, maintaining a "hold" rating in a report dated December 2nd. On the other hand, HSBC Global Research lowered its rating to a "moderate sell" in a note published on September 3rd.

Sanford C. Bernstein initiated coverage of Carnival Co. & plc on November 26th, providing a "market perform" rating with a target price of $26.00. Goldman Sachs also raised its target from $24.00 to $32.00 while maintaining a buy rating. As it currently stands, one research analyst has issued a sell rating, three have assigned a hold rating, and fourteen analysts have provided a buy rating. According to data from MarketBeat, Carnival Co. & plc has an average rating of "Moderate Buy" with a consensus price target of $26.21.

Carnival Co. & plc Stock Overview

The stock price of Carnival Co. & plc opened at $25.90 on Friday, with a market capitalization of $29.89 billion. Its price-to-earnings ratio stands at 23.13, with a beta of 2.67. Additionally, the company's 50-day moving average is $23.42, while the 200-day moving average is $19.14. The firm has a quick ratio of 0.26 and a current ratio of 0.30, indicating its liquidity position, whereas its debt-to-equity ratio is notably high at 3.10. Over the past year, Carnival Co. & plc's stock has seen a low of $13.78 and a high of $27.17.

Carnival Co. & plc released its quarterly earnings data on September 30th, reporting $1.27 earnings per share (EPS), which exceeded analysts’ consensus estimates of $1.17 by ten cents. The company achieved a net margin of 6.39% and a return on equity of 22.30%. With revenues reaching $7.90 billion during the quarter, Carnival Co. & plc surpassed expectations of $7.82 billion. This represents a 15.2% increase in revenue year-over-year. Looking ahead, analysts predict an EPS of 1.33 for the current fiscal year.

Insider Transactions

In other news, Director Sir Jonathon Band sold 17,500 shares of Carnival Co. & plc on October 29th, with the shares sold at an average price of $21.72. This transaction amounted to $380,100. Following this sale, Sir Jonathon Band holds 65,789 shares, valued at roughly $1,428,937.08, marking a decrease of 21.01% in their position. This transaction was documented in a filing with the Securities and Exchange Commission, which is available for public access. Notably, insiders currently hold around 11.00% of the stock.

Company Overview

Carnival Corporation & plc offers leisure travel services both regionally and globally, with operations across North America, Australia, Europe, Asia, and beyond. The business is divided into four segments: North America Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other Activities. Carnival also manages port destinations, private islands, and owns and operates accommodations and transportation options like hotels, lodges, railcars, and coaches.

Carnival, Investment, Bank, Stock, Analysts