Auto Owners Insurance Co Reduces Holdings in Carnival Corporation (NYSE:CCL)

Auto Owners Insurance Co trimmed its position in Carnival Corporation (NYSE:CCL - Free Report) by 22.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 503,940 shares of the company's stock after selling 146,060 shares during the quarter. Auto Owners Insurance Co's holdings in Carnival were worth $9,842,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CCL. Graybill Wealth Management LTD. acquired a new position in Carnival in the 1st quarter valued at about $26,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Carnival in the 4th quarter valued at approximately $29,000. Orion Capital Management LLC purchased a new stake in shares of Carnival in the 4th quarter valued at approximately $30,000. Millstone Evans Group LLC purchased a new stake in shares of Carnival in the 4th quarter valued at approximately $34,000. Finally, Dunhill Financial LLC raised its stake in shares of Carnival by 1,125.0% in the 1st quarter. Dunhill Financial LLC now owns 1,862 shares of the company's stock valued at $36,000 after acquiring an additional 1,710 shares during the period. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Carnival Stock Down 0.1%

Shares of NYSE:CCL traded down $0.03 during trading hours on Friday, reaching $29.75. The stock had a trading volume of 13,057,685 shares, compared to its average volume of 22,977,866. Carnival Corporation has a 1 year low of $13.78 and a 1 year high of $31.01. The firm's 50 day moving average is $26.02 and its 200-day moving average is $23.40. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34. The stock has a market capitalization of $34.73 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 0.67 and a beta of 2.61.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Macquarie reduced their price target on shares of Carnival from $31.00 to $26.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Northcoast Research assumed coverage on shares of Carnival in a research note on Friday, April 25th. They issued a "neutral" rating on the stock. Citigroup boosted their price target on shares of Carnival from $30.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. HSBC raised shares of Carnival from a "reduce" rating to a "hold" rating and set a $24.00 target price on the stock in a research note on Friday, May 16th. Finally, Barclays upped their target price on shares of Carnival from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Carnival currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.35.

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.