12,022 Shares in Carnival Corporation (NYSE:CCL) Acquired by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. acquired 12,022 shares of Carnival Corporation (NYSE:CCL) valued at approximately $235,000 in the first quarter.
• Insider trading activity included Director Sir Jonathon Band selling 12,500 shares for $371,875, reducing their stake by 16.25%.
• Analysts have a consensus rating of "Moderate Buy"** for Carnival, with fourteen analysts issuing buy ratings and a target price of $30.71.

LGT Fund Management Co Ltd. acquired a new position in Carnival Corporation (NYSE:CCL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,022 shares of the company's stock, valued at approximately $235,000.

Other large investors have also made changes to their positions in the company. SouthState Corp boosted its stake in shares of Carnival by 9.8% during the 1st quarter. SouthState Corp now owns 5,976 shares of the company's stock worth $117,000 after acquiring an additional 531 shares in the last quarter. KBC Group NV boosted its stake in shares of Carnival by 0.8% during the 1st quarter. KBC Group NV now owns 73,391 shares of the company's stock worth $1,433,000 after acquiring an additional 553 shares in the last quarter. Fielder Capital Group LLC boosted its stake in shares of Carnival by 5.0% during the 1st quarter. Fielder Capital Group LLC now owns 12,843 shares of the company's stock worth $251,000 after acquiring an additional 615 shares in the last quarter. Commerce Bank boosted its stake in shares of Carnival by 2.8% during the 1st quarter. Commerce Bank now owns 23,027 shares of the company's stock worth $450,000 after acquiring an additional 620 shares in the last quarter. Finally, Kentucky Retirement Systems boosted its stake in shares of Carnival by 0.9% during the 1st quarter. Kentucky Retirement Systems now owns 70,058 shares of the company's stock worth $1,368,000 after acquiring an additional 638 shares in the last quarter. 67.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Sir Jonathon Band sold 12,500 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total value of $371,875.00. Following the sale, the director directly owned 64,406 shares in the company, valued at approximately $1,916,078.50. This trade represents a 16.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on CCL. Hsbc Global Res raised shares of Carnival from a "moderate sell" rating to a "hold" rating in a research note on Friday, May 16th. TD Cowen initiated coverage on shares of Carnival in a research report on Tuesday, July 22nd. They set a "buy" rating and a $36.00 price target for the company. Northcoast Research initiated coverage on shares of Carnival in a research report on Friday, April 25th. They set a "neutral" rating for the company. Truist Financial upped their price target on shares of Carnival from $27.00 to $31.00 and gave the stock a "hold" rating in a research report on Monday, July 21st. Finally, Susquehanna upped their price target 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 issued a buy rating to the company. According to MarketBeat, Carnival presently has an average rating of "Moderate Buy" and a consensus target price of $30.71.

Carnival Stock Performance

NYSE:CCL opened at $29.64 on Wednesday. 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 Corporation has a fifty-two week low of $14.53 and a fifty-two week high of $31.01. The stock has a market capitalization of $34.60 billion, a P/E ratio of 16.02, a PEG ratio of 0.64 and a beta of 2.70. The company has a 50 day moving average price of $27.54 and a 200 day moving average price of $23.75.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The company had revenue of $6.33 billion during the quarter, compared to analysts' expectations of $6.20 billion. During the same quarter last year, the company posted $0.11 EPS. The firm's revenue was up 9.5% compared to the same quarter last year. Equities research analysts forecast that Carnival Corporation will post 1.77 EPS for the current year.

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.

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