Credit Agricole S A Has $15.01 Million Stake in Carnival Corporation $CCL

Key Points

• Credit Agricole S A increased its stake in Carnival Corporation by 106.7% during the first quarter, now owning 768,630 shares worth about $15 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Carnival stock, with thirteen rating it a Buy and price targets ranging from $30 to $38.
• The stock is showing a 1.1% decline recently but has performed positively with a reported 9.5% revenue increase year-over-year in its latest quarterly earnings.

Credit Agricole S A lifted its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 106.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 768,630 shares of the company's stock after acquiring an additional 396,789 shares during the quarter. Credit Agricole S A owned about 0.07% of Carnival worth $15,011,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Measured Risk Portfolios Inc. acquired a new position in shares of Carnival during the fourth quarter valued at approximately $29,000. Orion Capital Management LLC acquired a new position in shares of Carnival during the fourth quarter valued at approximately $30,000. N.E.W. Advisory Services LLC acquired a new position in shares of Carnival during the first quarter valued at approximately $25,000. Graybill Wealth Management LTD. acquired a new position in shares of Carnival during the first quarter valued at approximately $26,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Carnival during the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 67.19% of the company's stock.

Insider Buying and Selling

In related news, Director Sir Jonathon Band sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total value of $371,875.00. Following the completion of the transaction, the director owned 64,406 shares of the company's stock, valued at approximately $1,916,078.50. This trade represents a 16.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.60% of the company's stock.

Carnival Trading Up 6.9%

Carnival stock traded up $2.0180 during midday trading on Friday, reaching $31.2880. The stock had a trading volume of 27,173,276 shares, compared to its average volume of 16,618,616. The firm's fifty day simple moving average is $28.53 and its two-hundred day simple moving average is $23.90. Carnival Corporation has a twelve month low of $15.07 and a twelve month high of $31.38. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30. The firm has a market cap of $36.53 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 0.70 and a beta of 2.70.

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. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The firm had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the business posted $0.11 EPS. The company's revenue was up 9.5% on a year-over-year basis. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. Equities analysts anticipate that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wall Street Zen upgraded shares of Carnival from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Truist Financial raised their target price on shares of Carnival from $27.00 to $31.00 and gave the stock a "hold" rating in a report on Monday, July 21st. TD Cowen started coverage on shares of Carnival in a report on Tuesday, July 22nd. They set a "buy" rating and a $36.00 target price for the company. Zacks Research cut shares of Carnival from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Finally, HSBC upgraded shares of 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. Thirteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Carnival has a consensus rating of "Moderate Buy" and an average price target of $30.71.

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.