Charles Schwab Investment Management Inc. Boosts Stake in Carnival Corporation (NYSE:CCL)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Carnival Corporation (NYSE: CCL) by 0.3% during the first quarter, now owning 6,267,095 shares valued at approximately $122.4 million.
• A number of institutional investors significantly boosted their positions in Carnival, with Federated Hermes Inc. increasing its stake by 311.7% in the last quarter, now owning 26,839 shares.
• Carnival reported a 9.5% year-over-year revenue growth in its latest quarterly results, generating $6.33 billion, and exceeding analyst expectations of $6.20 billion.

Charles Schwab Investment Management Inc. raised its holdings in Carnival Corporation (NYSE:CCL - Free Report) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,267,095 shares of the company's stock after buying an additional 17,285 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.54% of Carnival worth $122,397,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CCL. Federated Hermes Inc. grew its position in shares of Carnival by 311.7% in the 4th quarter. Federated Hermes Inc. now owns 26,839 shares of the company's stock worth $669,000 after buying an additional 20,320 shares during the last quarter. Advisory Services Network LLC grew its position in shares of Carnival by 52.3% in the 4th quarter. Advisory Services Network LLC now owns 28,090 shares of the company's stock worth $700,000 after buying an additional 9,641 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Carnival in the 4th quarter worth approximately $21,687,000. Scotia Capital Inc. boosted its position in shares of Carnival by 14.0% during the fourth quarter. Scotia Capital Inc. now owns 47,563 shares of the company's stock valued at $1,185,000 after purchasing an additional 5,830 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of Carnival by 60.0% during the fourth quarter. Sterling Capital Management LLC now owns 61,142 shares of the company's stock valued at $1,524,000 after purchasing an additional 22,933 shares in the last quarter. 67.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CCL has been the topic of several research reports. Susquehanna lifted their price target on Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a research report on Wednesday, June 25th. Mizuho lifted their price target on Carnival from $33.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Citigroup lifted their price target on Carnival from $30.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Macquarie dropped their price target on Carnival from $31.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, Tigress Financial lifted their price objective on Carnival from $32.00 to $38.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.71.

Carnival Stock Performance

NYSE:CCL traded up $0.99 during mid-day trading on Wednesday, hitting $30.63. 22,064,794 shares of the company traded hands, compared to its average volume of 17,536,168. The stock's fifty day moving average price is $27.68 and its 200-day moving average price is $23.80. Carnival Corporation has a one year low of $14.53 and a one year high of $31.01. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.58. The firm has a market cap of $35.76 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 0.66 and a beta of 2.70.

Carnival (NYSE:CCL - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The business had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the previous year, the company posted $0.11 earnings per share. Carnival's revenue for the quarter was up 9.5% on a year-over-year basis. Research analysts anticipate that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Carnival

In other news, Director Sir Jonathon Band sold 12,500 shares of the company'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 completion of the transaction, the director owned 64,406 shares of the company's stock, valued at $1,916,078.50. This represents a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 7.60% of the stock is currently owned by company insiders.

Carnival Company 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.