Bessemer Group Inc. Sells 1,771,994 Shares of Carnival Corporation (NYSE:CCL)

Bessemer Group Inc. cut its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,148,013 shares of the company's stock after selling 1,771,994 shares during the quarter. Carnival makes up 1.1% of Bessemer Group Inc.'s portfolio, making the stock its 16th largest holding. Bessemer Group Inc. owned about 2.58% of Carnival worth $588,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCL. Measured Risk Portfolios Inc. bought a new stake in Carnival in the fourth quarter worth about $29,000. Orion Capital Management LLC purchased a new stake in shares of Carnival during the fourth quarter worth $30,000. Millstone Evans Group LLC bought a new position in Carnival during the fourth quarter valued at approximately $34,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Carnival in the fourth quarter worth about $42,000. Finally, Wealthquest Corp bought a new position in shares of Carnival in the first quarter valued at approximately $36,000. Institutional investors own 67.19% of the company's stock.

Carnival Trading Up 2.9%

Shares of Carnival stock traded up $0.75 during trading on Thursday, hitting $26.23. 29,065,011 shares of the company were exchanged, compared to its average volume of 25,181,300. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.21. The firm has a market capitalization of $30.60 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 0.57 and a beta of 2.58. The firm's fifty day moving average price is $21.89 and its 200 day moving average price is $22.83. Carnival Corporation has a 1-year low of $13.78 and a 1-year high of $28.72.

Carnival (NYSE:CCL - Get Free Report) last announced its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (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 the consensus estimate of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 earnings per share. As a group, sell-side analysts expect that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CCL shares. Northcoast Research assumed coverage on Carnival in a research report on Friday, April 25th. They set a "neutral" rating for the company. Tigress Financial reissued a "buy" rating on shares of Carnival in a report on Wednesday, March 26th. Wall Street Zen upgraded shares of Carnival from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Barclays increased their target price on shares of Carnival from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Bank of America boosted their price target on Carnival from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.84.

Carnival 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.