Victory Capital Management Inc. Acquires 16,309 Shares of Carnival Corporation (NYSE:CCL)

Key Points

• Victory Capital Management Inc. increased its stake in Carnival Corporation by 5.5%, owning 312,306 shares worth approximately $6.1 million at the end of the last quarter.
• Carnival's recent quarterly earnings showed an EPS of $0.35, surpassing analyst expectations of $0.24, with revenue reaching $6.33 billion.
• Analysts have set a consensus price target of $30.35 for Carnival stock, with a majority rating it as a "Moderate Buy."

Victory Capital Management Inc. raised its position in shares of Carnival Corporation (NYSE:CCL - Free Report) by 5.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,306 shares of the company's stock after acquiring an additional 16,309 shares during the period. Victory Capital Management Inc.'s holdings in Carnival were worth $6,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CCL. Norges Bank acquired a new stake in shares of Carnival in the fourth quarter worth $59,486,000. Beck Bode LLC acquired a new stake in shares of Carnival in the fourth quarter worth $5,715,000. Itau Unibanco Holding S.A. acquired a new stake in Carnival during the fourth quarter worth $5,113,000. Korea Investment CORP boosted its stake in Carnival by 36.7% during the fourth quarter. Korea Investment CORP now owns 1,090,909 shares of the company's stock worth $27,185,000 after buying an additional 293,154 shares in the last quarter. Finally, Allstate Corp acquired a new stake in Carnival during the fourth quarter worth $767,000. 67.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Susquehanna lifted their price target on shares of Carnival from $27.00 to $30.00 and gave the stock a "positive" rating in a research note on Wednesday, June 25th. Mizuho lifted their price objective on Carnival from $33.00 to $35.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Wall Street Zen raised Carnival from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Macquarie cut their price objective on Carnival from $31.00 to $26.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Finally, Barclays lifted their price objective on Carnival from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Wednesday, June 25th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.35.

Carnival Stock Down 0.1%

Shares of CCL traded down $0.03 on Friday, hitting $29.75. The company's stock had a trading volume of 13,057,685 shares, compared to its average volume of 22,977,866. 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 capitalization of $34.73 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 0.67 and a beta of 2.61. The firm's fifty day moving average price is $26.02 and its 200-day moving average price is $23.39. Carnival Corporation has a fifty-two week low of $13.78 and a fifty-two week high of $31.01.

Carnival (NYSE:CCL - Get Free Report) last issued 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 business had revenue of $6.33 billion for 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 firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share. On average, 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.