Alliancebernstein L.P. Sells 41,850 Shares of Carnival Corporation $CCL

Key Points

• Alliancebernstein L.P. reduced its stake in Carnival Corporation by 3.2%, holding approximately 1,251,812 shares valued at $24,448,000 after selling 41,850 shares during the first quarter.
• Multiple research firms have recently upgraded their ratings on Carnival, with Bank of America raising its price target from $31.00 to $38.00 and a consensus rating of "Moderate Buy" reported among analysts.
• The company reported $0.35 earnings per share for the last quarter, surpassing analysts' expectations and marking a 9.5% increase in revenue compared to the same quarter last year.

Alliancebernstein L.P. decreased its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 3.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,251,812 shares of the company's stock after selling 41,850 shares during the period. Alliancebernstein L.P. owned about 0.11% of Carnival worth $24,448,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. BW Gestao de Investimentos Ltda. bought a new position in shares of Carnival during the first quarter worth about $3,711,000. Banque Transatlantique SA acquired a new position in Carnival in the first quarter valued at approximately $33,000. Alyeska Investment Group L.P. boosted its stake in Carnival by 72.0% in the first quarter. Alyeska Investment Group L.P. now owns 4,352,135 shares of the company's stock valued at $84,997,000 after acquiring an additional 1,821,625 shares during the period. Amundi boosted its stake in Carnival by 11.5% in the first quarter. Amundi now owns 2,553,463 shares of the company's stock valued at $49,869,000 after acquiring an additional 262,687 shares during the period. Finally, 59 North Capital Management LP acquired a new position in Carnival in the first quarter valued at approximately $69,303,000. Institutional investors own 67.19% of the company's stock.

Carnival Trading Down 2.8%

Carnival stock traded down $0.92 during midday trading on Friday, reaching $31.55. The stock had a trading volume of 12,993,248 shares, compared to its average volume of 15,040,851. The firm's fifty day simple moving average is $30.15 and its two-hundred day simple moving average is $24.50. Carnival Corporation has a twelve month low of $15.07 and a twelve month high of $32.80. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30. The firm has a market cap of $36.83 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.73 and a beta of 2.70.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The firm had revenue of $6.33 billion during the quarter, compared to analyst estimates 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 quarter last year, the business posted $0.11 EPS. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. Equities analysts anticipate that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Insider Buying and Selling at Carnival

In other news, Director Sir Jonathon Band sold 12,500 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total transaction of $371,875.00. Following the transaction, the director owned 64,406 shares in the company, valued at approximately $1,916,078.50. This trade represents a 16.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CCL shares. Citigroup lifted their target price on Carnival from $30.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Barclays lifted their target price on Carnival from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Loop Capital restated a "hold" rating and issued a $22.00 target price on shares of Carnival in a research note on Monday, June 23rd. Tigress Financial raised their price target on shares of Carnival from $32.00 to $38.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Stifel Nicolaus raised their price target on shares of Carnival from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Thirteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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.