Cookson Peirce & Co. Inc. lifted its holdings in Carnival Corporation (NYSE:CCL - Free Report) by 57.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,250 shares of the company's stock after buying an additional 11,722 shares during the period. Cookson Peirce & Co. Inc.'s holdings in Carnival were worth $630,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the business. N.E.W. Advisory Services LLC acquired a new stake in Carnival during the first quarter valued at $25,000. Graybill Wealth Management LTD. acquired a new stake in Carnival during the first quarter valued at $26,000. Measured Risk Portfolios Inc. acquired a new stake in Carnival during the fourth quarter valued at $29,000. Orion Capital Management LLC acquired a new stake in Carnival during the fourth quarter valued at $30,000. Finally, Zions Bancorporation National Association UT acquired a new stake in Carnival during the first quarter valued at $35,000. Institutional investors and hedge funds own 67.19% of the company's stock.
Insider Activity at Carnival
In related news, Director Sir Jonathon Band sold 12,500 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total transaction of $371,875.00. Following the transaction, the director directly owned 64,406 shares in the company, valued at $1,916,078.50. The trade was a 16.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 7.60% of the company's stock.
Carnival Trading Down 1.2%
Carnival stock opened at $30.27 on Friday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34. The business's 50-day simple moving average is $27.81 and its 200-day simple moving average is $23.83. The firm has a market capitalization of $35.33 billion, a PE ratio of 16.36, a PEG ratio of 0.69 and a beta of 2.70. Carnival Corporation has a 52 week low of $15.03 and a 52 week high of $31.01.
Carnival (NYSE:CCL - Get Free Report) last posted 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 return on equity of 27.88% and a net margin of 9.72%. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. Equities research analysts forecast that Carnival Corporation will post 1.77 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on CCL shares. Mizuho lifted their price objective on Carnival from $33.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Wall Street Zen raised Carnival from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Bank of America lifted their price objective on Carnival from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Citigroup raised their target price on Carnival from $30.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Barclays raised their target price on Carnival from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Wednesday, June 25th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Carnival currently has an average rating of "Moderate Buy" and a consensus price target of $30.71.
Check Out Our Latest Stock Report on CCL
Carnival Profile
(
Free Report)
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.
Further Reading
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