Sir Jonathon Band Sells 12,500 Shares of Carnival Corporation (NYSE:CCL) Stock

Key Points

• Sir Jonathon Band of Carnival Corporation sold 12,500 shares at an average price of $29.75, totaling approximately $371,875, resulting in a 16.25% decrease in his holdings.
• Carnival's stock is currently trading at $29.41 with a market capitalization of $34.33 billion, and it recently reported earnings of $0.35 per share, exceeding analysts' expectations.
• Several analysts have raised their target prices for Carnival stock, with Barclays adjusting its target from $30.00 to $33.00 and a general consensus rating of "Moderate Buy."

Carnival Corporation (NYSE:CCL - Get Free Report) Director Sir Jonathon Band sold 12,500 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total transaction of $371,875.00. Following the sale, the director directly owned 64,406 shares of the company's stock, valued at $1,916,078.50. This represents a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Carnival Price Performance

Shares of CCL stock traded down $0.21 during mid-day trading on Friday, reaching $28.80. The company's stock had a trading volume of 3,119,305 shares, compared to its average volume of 24,050,889. The firm's 50-day moving average is $27.23 and its two-hundred day moving average is $23.69. The company has a market cap of $33.63 billion, a P/E ratio of 15.56, a PEG ratio of 0.65 and a beta of 2.70. Carnival Corporation has a 1-year low of $14.49 and a 1-year high of $31.01. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34.

Carnival (NYSE:CCL - Get Free Report) last posted its earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The business had revenue of $6.33 billion for the quarter, compared to analysts' expectations of $6.20 billion. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share. On average, research analysts predict that Carnival Corporation will post 1.77 earnings per share for the current year.

Hedge Funds Weigh In On Carnival

A number of hedge funds have recently modified their holdings of CCL. Geode Capital Management LLC grew its position in Carnival by 7.4% in the second quarter. Geode Capital Management LLC now owns 27,617,014 shares of the company's stock valued at $773,398,000 after acquiring an additional 1,906,110 shares during the period. ABC Arbitrage SA acquired a new stake in shares of Carnival in the 2nd quarter valued at $1,485,000. PNC Financial Services Group Inc. boosted its stake in shares of Carnival by 9.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 220,847 shares of the company's stock valued at $6,210,000 after purchasing an additional 18,545 shares in the last quarter. denkapparat Operations GmbH bought a new stake in shares of Carnival in the 2nd quarter worth about $222,000. Finally, Vise Technologies Inc. acquired a new stake in shares of Carnival during the 2nd quarter worth about $563,000. 67.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Carnival from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Truist Financial upped their price target on Carnival from $27.00 to $31.00 and gave the company a "hold" rating in a research report on Monday, July 21st. Morgan Stanley upped their target price on Carnival from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Hsbc Global Res upgraded shares of Carnival from a "moderate sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, Susquehanna increased their target price on shares of Carnival from $27.00 to $30.00 and gave the stock a "positive" rating in a research report on Wednesday, June 25th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.71.

Carnival 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.