Carnival Corporation (NYSE:CCL) Stake Boosted by IFM Investors Pty Ltd

IFM Investors Pty Ltd lifted its position in shares of Carnival Corporation (NYSE:CCL - Free Report) by 6.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 183,954 shares of the company's stock after buying an additional 10,739 shares during the quarter. IFM Investors Pty Ltd's holdings in Carnival were worth $3,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC grew its holdings in Carnival by 15.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 17,945 shares of the company's stock valued at $350,000 after buying an additional 2,458 shares during the period. Calamos Advisors LLC grew its holdings in Carnival by 1.0% in the 1st quarter. Calamos Advisors LLC now owns 655,313 shares of the company's stock valued at $12,798,000 after buying an additional 6,638 shares during the period. Principal Financial Group Inc. grew its holdings in Carnival by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,233,963 shares of the company's stock valued at $24,099,000 after buying an additional 7,753 shares during the period. Mutual Advisors LLC grew its holdings in Carnival by 16.6% in the 1st quarter. Mutual Advisors LLC now owns 24,730 shares of the company's stock valued at $460,000 after buying an additional 3,521 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in Carnival by 1.1% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 89,973 shares of the company's stock valued at $1,757,000 after buying an additional 950 shares during the period. Institutional investors and hedge funds own 67.19% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. William Blair restated an "outperform" rating on shares of Carnival in a report on Monday, March 10th. Morgan Stanley boosted their target price on Carnival from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Bank of America boosted their target price on Carnival from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. HSBC upgraded Carnival from a "reduce" rating to a "hold" rating and set a $24.00 target price for the company in a report on Friday, May 16th. Finally, Truist Financial set a $27.00 price target on Carnival in a report on Monday, June 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $28.65.

Carnival Stock Performance

Shares of CCL traded down $0.46 during trading hours on Tuesday, reaching $28.85. 26,801,769 shares of the company's stock traded hands, compared to its average volume of 25,235,037. The firm has a market capitalization of $33.68 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 0.66 and a beta of 2.61. 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 Corporation has a twelve month low of $13.78 and a twelve month high of $30.46. The business's fifty day simple moving average is $23.56 and its two-hundred day simple moving average is $22.94.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The company had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The company's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. Analysts predict that Carnival Corporation will post 1.77 earnings per share 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.