Northern Trust Corp Purchases 1,787,015 Shares of Carnival Corporation $CCL

Key Points

• Northern Trust Corp increased its holdings in Carnival Corporation by 16.8%, now owning approximately 1.07% of the company with an investment valued at $242.67 million.
• Carnival Corporation reported a quarterly EPS of $0.35, surpassing analysts' expectations, with revenues of $6.33 billion, marking a 9.5% increase year-over-year.
• Multiple analysts have raised their price targets for Carnival, with estimates now ranging from $32.00 to $38.00, indicating a strong buy sentiment among investment analysts.

Northern Trust Corp increased its position in shares of Carnival Corporation (NYSE:CCL - Free Report) by 16.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,425,707 shares of the company's stock after buying an additional 1,787,015 shares during the period. Northern Trust Corp owned 1.07% of Carnival worth $242,674,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Carnival by 2.1% during the first quarter. Vanguard Group Inc. now owns 119,505,754 shares of the company's stock worth $2,333,947,000 after buying an additional 2,410,188 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Carnival by 33.7% during 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 during the last quarter. Nuveen LLC acquired a new position in Carnival during the first quarter worth $432,718,000. Invesco Ltd. increased its holdings in Carnival by 24.7% during the first quarter. Invesco Ltd. now owns 12,965,228 shares of the company's stock worth $253,211,000 after buying an additional 2,566,148 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in Carnival by 58.1% during the fourth quarter. Two Sigma Advisers LP now owns 7,056,246 shares of the company's stock worth $175,842,000 after buying an additional 2,593,046 shares during the last quarter. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America boosted their target price on shares of Carnival from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Citigroup boosted their target price on shares of Carnival from $30.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Mizuho boosted their target price on shares of Carnival from $33.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Truist Financial upped their price objective on shares of Carnival from $27.00 to $31.00 and gave the company a "hold" rating in a report on Monday, July 21st. Finally, Zacks Research downgraded shares of Carnival from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Thirteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.71.

Insider Activity

In other news, Director Sir Jonathon Band sold 12,500 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total value of $371,875.00. Following the completion of the sale, the director 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.60% of the company's stock.

Carnival Stock Performance

Shares of Carnival stock traded up $2.0180 during trading on Friday, reaching $31.2880. The company's stock had a trading volume of 27,173,276 shares, compared to its average volume of 16,618,616. The business's 50-day moving average price is $28.53 and its 200-day moving average price is $23.90. The firm has a market cap of $36.53 billion, a PE ratio of 16.91, a P/E/G ratio of 0.70 and a beta of 2.70. Carnival Corporation has a 52 week low of $15.07 and a 52 week high of $31.38. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.58.

Carnival (NYSE:CCL - Get Free Report) last announced its earnings results 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. The company had revenue of $6.33 billion during the quarter, compared to analysts' expectations of $6.20 billion. Carnival had a net margin of 9.72% and a return on equity of 27.88%. Carnival's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $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. Equities analysts forecast that Carnival Corporation will post 1.77 earnings per share for the current year.

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.