Carnival Corporation $CCL Holdings Reduced by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly reduced its stake in Carnival Corporation by 83.5%, selling 280,477 shares and leaving it with 55,479 shares valued at approximately $1.08 million.
• Carnival Corporation reported $0.35 EPS for its recent quarter, exceeding analyst expectations of $0.24, with revenues reaching $6.33 billion.
• Analysts have shown confidence in Carnival's stock, with thirteen rating it a Buy and the average target price set at $30.71.

BI Asset Management Fondsmaeglerselskab A S reduced its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 83.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 55,479 shares of the company's stock after selling 280,477 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Carnival were worth $1,084,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCL. RWA Wealth Partners LLC purchased a new stake in shares of Carnival during the 1st quarter worth about $6,418,000. Wellington Management Group LLP lifted its stake in Carnival by 62.6% in the 1st quarter. Wellington Management Group LLP now owns 17,207 shares of the company's stock worth $336,000 after purchasing an additional 6,625 shares in the last quarter. Korea Investment CORP lifted its stake in Carnival by 2.5% in the 1st quarter. Korea Investment CORP now owns 1,117,897 shares of the company's stock worth $21,833,000 after purchasing an additional 26,988 shares in the last quarter. Northern Trust Corp lifted its stake in Carnival by 16.8% in the 1st quarter. Northern Trust Corp now owns 12,425,707 shares of the company's stock worth $242,674,000 after purchasing an additional 1,787,015 shares in the last quarter. Finally, Brooklyn Investment Group increased its holdings in shares of Carnival by 5.0% during the 1st quarter. Brooklyn Investment Group now owns 17,111 shares of the company's stock worth $334,000 after buying an additional 818 shares during the last quarter. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival Stock Up 1.3%

CCL stock traded up $0.42 during trading on Wednesday, reaching $32.29. The stock had a trading volume of 16,665,334 shares, compared to its average volume of 23,506,941. The company has a market capitalization of $37.69 billion, a P/E ratio of 17.44, a PEG ratio of 0.70 and a beta of 2.70. The firm has a fifty day moving average price of $28.85 and a 200 day moving average price of $23.96. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58. Carnival Corporation has a 1-year low of $15.07 and a 1-year high of $32.37.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The business 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 last 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. On average, equities analysts anticipate that Carnival Corporation will post 1.77 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Sir Jonathon Band sold 12,500 shares of Carnival stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total value of $371,875.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CCL. Stifel Nicolaus raised their price target on shares of Carnival from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Hsbc Global Res raised shares of Carnival from a "moderate sell" rating to a "hold" rating in a research report on Friday, May 16th. Tigress Financial boosted their price target on shares of Carnival from $32.00 to $38.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Bank of America upped their price objective on shares of Carnival from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Citigroup increased their target price on shares of Carnival from $30.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Thirteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average 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.