Bank of New York Mellon Corp Has $116.94 Million Stake in Carnival Corporation (NYSE:CCL)

Bank of New York Mellon Corp raised its position in shares of Carnival Corporation (NYSE:CCL - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,987,895 shares of the company's stock after buying an additional 146,352 shares during the period. Bank of New York Mellon Corp owned about 0.51% of Carnival worth $116,944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CCL. FMR LLC increased its holdings in shares of Carnival by 186.6% during the fourth quarter. FMR LLC now owns 9,898,906 shares of the company's stock worth $246,681,000 after buying an additional 6,444,444 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Carnival by 33.7% during the fourth quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company's stock valued at $569,423,000 after purchasing an additional 5,761,489 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Carnival by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 117,095,566 shares of the company's stock valued at $2,918,022,000 after purchasing an additional 4,458,329 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Carnival during the fourth quarter valued at approximately $100,845,000. Finally, AQR Capital Management LLC grew its stake in shares of Carnival by 228.8% during the fourth quarter. AQR Capital Management LLC now owns 4,689,305 shares of the company's stock valued at $116,857,000 after purchasing an additional 3,263,204 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Stifel Nicolaus increased 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. Macquarie decreased their price target on shares of Carnival from $31.00 to $26.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Susquehanna increased their price target on shares of Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a research note on Wednesday, June 25th. HSBC raised shares of Carnival from a "reduce" rating to a "hold" rating and set a $24.00 price target on the stock in a research note on Friday, May 16th. Finally, Loop Capital reissued a "hold" rating and set a $22.00 price target on shares of Carnival in a research note on Monday, June 23rd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $28.65.

Carnival Trading Down 1.2%

Shares of NYSE CCL traded down $0.36 during midday trading on Friday, reaching $28.75. 7,016,966 shares of the stock were exchanged, compared to its average volume of 25,064,412. The business has a 50-day simple moving average of $24.18 and a two-hundred day simple moving average of $23.05. The company has a market capitalization of $33.56 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 0.64 and a beta of 2.61. Carnival Corporation has a 12 month low of $13.78 and a 12 month high of $30.46. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30.

Carnival (NYSE:CCL - Get Free Report) last announced its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The company had revenue of $6.33 billion for 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%. The business's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. As a group, equities research analysts expect that Carnival Corporation will post 1.77 EPS for the current year.

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.