Ameriprise Financial Inc. Buys 967,143 Shares of Carnival Corporation $CCL

Key Points

• Ameriprise Financial Inc. significantly increased its stake in Carnival Corporation by 46.2%, acquiring an additional 967,143 shares in the first quarter, bringing its total ownership to over 3 million shares valued at approximately $59.77 million.
• Several other hedge funds also raised their positions in Carnival, indicating strong institutional interest, with hedge funds collectively owning 67.19% of the stock.
• Carnival's stock has seen an upward trajectory, with analysts upgrading their ratings and increasing target prices, including Barclays raising their target from $30.00 to $33.00.

Ameriprise Financial Inc. raised its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 46.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,060,848 shares of the company's stock after acquiring an additional 967,143 shares during the period. Ameriprise Financial Inc. owned about 0.26% of Carnival worth $59,773,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Carnival by 4.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,476,588 shares of the company's stock valued at $36,798,000 after purchasing an additional 60,833 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Carnival by 5.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 22,775 shares of the company's stock worth $568,000 after purchasing an additional 1,244 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Carnival by 2.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 627,132 shares of the company's stock worth $15,628,000 after purchasing an additional 16,529 shares in the last quarter. Northern Trust Corp increased its stake in Carnival by 14.8% in the 4th quarter. Northern Trust Corp now owns 10,638,692 shares of the company's stock valued at $265,116,000 after buying an additional 1,374,714 shares during the last quarter. Finally, Lido Advisors LLC lifted its position in shares of Carnival by 3.5% during the 4th quarter. Lido Advisors LLC now owns 41,057 shares of the company's stock worth $1,023,000 after buying an additional 1,374 shares in the last quarter. 67.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carnival

In other news, Director Sir Jonathon Band sold 12,500 shares of Carnival stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total transaction of $371,875.00. Following the completion of the sale, the director directly owned 64,406 shares of the company's stock, valued at approximately $1,916,078.50. The trade was a 16.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.60% of the company's stock.

Carnival Stock Performance

NYSE:CCL opened at $31.89 on Wednesday. The stock has a market cap of $37.23 billion, a P/E ratio of 17.24, a PEG ratio of 0.70 and a beta of 2.70. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.58. The business's 50-day moving average price is $28.85 and its two-hundred day moving average price is $23.96. Carnival Corporation has a twelve month low of $15.07 and a twelve month high of $31.91.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. The company had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%.Carnival's revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 earnings per share. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. As a group, equities analysts predict that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CCL. Barclays upped their target price on Carnival from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Wednesday, June 25th. Tigress Financial boosted their price objective on Carnival from $32.00 to $38.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Wall Street Zen raised Carnival from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Truist Financial boosted their target price on Carnival from $27.00 to $31.00 and gave the company a "hold" rating in a research note on Monday, July 21st. Finally, Mizuho upped their price target on Carnival from $33.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Thirteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.71.

About Carnival

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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