Cetera Investment Advisers Purchases 10,125 Shares of Carnival Corporation (NYSE:CCL)

Key Points

• Cetera Investment Advisers increased its position in Carnival Corporation by 4.0%, purchasing an additional 10,125 shares, bringing their total holdings to 262,856 shares valued at approximately $5.13 million.
• Major institutional investors have also increased their stakes in Carnival, with Franklin Resources Inc. growing its position by an impressive 273.2% during the last quarter.
• Analysts have set a consensus price target of $30.71 for Carnival, with ratings indicating a mix of seven "hold" ratings and fourteen "buy" ratings on the stock.

Cetera Investment Advisers raised its position in shares of Carnival Corporation (NYSE:CCL - Free Report) by 4.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 262,856 shares of the company's stock after purchasing an additional 10,125 shares during the quarter. Cetera Investment Advisers' holdings in Carnival were worth $5,134,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CCL. Blair William & Co. IL grew its stake in shares of Carnival by 16.0% during the 4th quarter. Blair William & Co. IL now owns 21,899 shares of the company's stock valued at $546,000 after purchasing an additional 3,020 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Carnival by 77.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 66,263 shares of the company's stock valued at $1,651,000 after purchasing an additional 28,856 shares during the period. Alliancebernstein L.P. grew its stake in shares of Carnival by 11.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,293,662 shares of the company's stock valued at $32,238,000 after acquiring an additional 136,528 shares during the period. Franklin Resources Inc. grew its stake in shares of Carnival by 273.2% during the 4th quarter. Franklin Resources Inc. now owns 220,115 shares of the company's stock valued at $5,485,000 after acquiring an additional 161,130 shares during the period. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Carnival during the 4th quarter valued at approximately $437,000. 67.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CCL has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on Carnival from $21.00 to $24.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. HSBC upgraded Carnival from a "reduce" rating to a "hold" rating and set a $24.00 price objective for the company in a research note on Friday, May 16th. TD Cowen initiated coverage on Carnival in a research note on Tuesday, July 22nd. They set a "buy" rating and a $36.00 price objective for the company. Bank of America boosted their price objective on Carnival from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Truist Financial boosted their price objective on Carnival from $27.00 to $31.00 and gave the company a "hold" rating in a research note on Monday, July 21st. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.71.

Carnival Stock Down 2.4%

Shares of CCL opened at $29.06 on Friday. The stock has a market capitalization of $33.92 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 0.65 and a beta of 2.70. Carnival Corporation has a 1 year low of $13.78 and a 1 year high of $31.01. The business's 50 day simple moving average is $26.72 and its 200-day simple moving average is $23.57. 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 issued its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.11. The business had revenue of $6.33 billion for the quarter, compared to analysts' expectations of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The company's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS. As a group, equities analysts expect that Carnival Corporation will post 1.77 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.