279,500 Shares in Carnival Corporation $CCL Purchased by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec acquired a new stake in Carnival Corporation, purchasing 279,500 shares valued at approximately $5.46 million during the first quarter.
• Wall Street analysts maintain a favorable outlook, with thirteen giving Carnival a Buy rating and an average target price of $30.71 per share.
• Carnival's recent earnings report showed a 9.5% increase in revenue year-over-year, reporting $6.33 billion for the quarter and exceeding analyst estimates.

Caisse DE Depot ET Placement DU Quebec acquired a new position in Carnival Corporation (NYSE:CCL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 279,500 shares of the company's stock, valued at approximately $5,459,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CCL. Nuveen LLC purchased a new stake in shares of Carnival in the first quarter worth $432,718,000. Nuveen Asset Management LLC raised its position in shares of Carnival by 33.7% in the fourth quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company's stock worth $569,423,000 after buying an additional 5,761,489 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Carnival in the fourth quarter worth $100,845,000. D. E. Shaw & Co. Inc. raised its position in shares of Carnival by 9,220.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 3,297,434 shares of the company's stock worth $82,172,000 after buying an additional 3,262,055 shares in the last quarter. Finally, AGF Management Ltd. raised its position in shares of Carnival by 14,603.8% in the first quarter. AGF Management Ltd. now owns 2,871,219 shares of the company's stock worth $56,075,000 after buying an additional 2,851,692 shares in the last quarter. Hedge funds and other institutional investors own 67.19% of the company's stock.

Carnival Trading Down 2.6%

Shares of NYSE:CCL traded down $0.83 on Tuesday, reaching $31.07. 10,836,149 shares of the company traded hands, compared to its average volume of 23,348,957. The business's 50-day simple moving average is $29.52 and its 200 day simple moving average is $24.12. Carnival Corporation has a 52 week low of $15.07 and a 52 week high of $32.77. The stock has a market capitalization of $36.27 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 0.71 and a beta of 2.70. 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 (NYSE:CCL - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. Carnival had a return on equity of 27.88% and a net margin of 9.72%.The firm had revenue of $6.33 billion for the quarter, compared to analysts' expectations of $6.20 billion. During the same period last year, the firm earned $0.11 earnings per share. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. 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 anticipate that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CCL shares. Zacks Research downgraded Carnival from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Tigress Financial raised their price target on Carnival from $32.00 to $38.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Truist Financial raised their price target on Carnival from $27.00 to $31.00 and gave the company a "hold" rating in a research report on Monday, July 21st. Wall Street Zen upgraded Carnival from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Finally, Barclays raised their price target on Carnival from $30.00 to $33.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Thirteen 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 company presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.71.

Insider Activity

In related news, Director Sir Jonathon Band sold 12,500 shares of the firm's 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 sale, the director directly owned 64,406 shares of the company's stock, valued at $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 available through this link. 7.60% of the stock is owned by insiders.

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.