Corebridge Financial Inc. Sells 7,839 Shares of Carnival Corporation $CCL

Key Points

• Corebridge Financial Inc. reduced its stake in Carnival Corporation by 3.0%, owning 255,329 shares valued at nearly $5 million after selling 7,839 shares in the first quarter.
• Institutional investors hold 67.19% of Carnival's stock, indicating significant institutional interest, with several investors acquiring new positions during the same quarter.
• Carnival's recent earnings report showed $6.33 billion in revenue and earnings per share of $0.35, exceeding analyst expectations and indicating a 9.5% revenue growth year-over-year.

Corebridge Financial Inc. lessened its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 255,329 shares of the company's stock after selling 7,839 shares during the period. Corebridge Financial Inc.'s holdings in Carnival were worth $4,987,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Beck Bode LLC bought a new position in Carnival in the fourth quarter valued at approximately $5,715,000. The Manufacturers Life Insurance Company increased its stake in Carnival by 2.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 627,132 shares of the company's stock valued at $15,628,000 after purchasing an additional 16,529 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Carnival by 31.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,160 shares of the company's stock worth $2,427,000 after buying an additional 28,890 shares during the period. IFM Investors Pty Ltd lifted its holdings in shares of Carnival by 6.2% in the 1st quarter. IFM Investors Pty Ltd now owns 183,954 shares of the company's stock worth $3,399,000 after purchasing an additional 10,739 shares in the last quarter. Finally, Mount Lucas Management LP increased its position in shares of Carnival by 42.5% during the first quarter. Mount Lucas Management LP now owns 65,754 shares of the company's stock worth $1,284,000 after acquiring an additional 19,601 shares in the last quarter. Institutional investors own 67.19% of the company's stock.

Carnival Trading Up 0.8%

NYSE:CCL traded up $0.25 during midday trading on Thursday, reaching $31.58. 6,774,701 shares of the stock traded hands, compared to its average volume of 23,209,615. The company has a fifty day moving average of $29.75 and a 200 day moving average of $24.22. Carnival Corporation has a 12 month low of $15.07 and a 12 month high of $32.77. 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 stock has a market capitalization of $36.86 billion, a P/E ratio of 17.08, a PEG ratio of 0.71 and a beta of 2.70.

Carnival (NYSE:CCL - Get Free Report) last announced its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (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 company's revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. On average, research analysts predict that Carnival Corporation will post 1.77 EPS for the current year.

Analyst Ratings Changes

CCL has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Carnival from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Zacks Research lowered shares of Carnival from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Tigress Financial increased their target price on shares of Carnival from $32.00 to $38.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Macquarie decreased 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, Citigroup boosted their target price on Carnival from $30.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Thirteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Carnival presently has an average rating of "Moderate Buy" and a consensus price target of $30.71.

Insider Buying and Selling at Carnival

In other news, Director Sir Jonathon Band sold 12,500 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $1,916,078.50. The trade was a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.60% of the company's stock.

About Carnival

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.