Deutsche Bank AG Sells 238,878 Shares of Carnival Corporation (NYSE:CCL)

Key Points

• Deutsche Bank AG reduced its stake in Carnival Corporation by 7.1%, now holding 3,134,018 shares valued at approximately $61.21 million.
• Wall Street analysts are optimistic about Carnival's future, with several firms raising their price targets, indicating an average rating of "Moderate Buy" and a consensus price target of $30.71.
• Carnival reported a quarterly earnings per share (EPS) of $0.35, exceeding analysts' estimates of $0.24, alongside a revenue of $6.33 billion, reflecting a year-over-year increase.

Deutsche Bank AG decreased its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 7.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,134,018 shares of the company's stock after selling 238,878 shares during the period. Deutsche Bank AG owned approximately 0.27% of Carnival worth $61,207,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CCL. Nuveen Asset Management LLC increased its position in shares of Carnival by 33.7% during the fourth quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company's stock worth $569,423,000 after acquiring an additional 5,761,489 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Carnival during the fourth quarter worth $100,845,000. AQR Capital Management LLC increased its position in shares of Carnival by 228.8% during the fourth quarter. AQR Capital Management LLC now owns 4,689,305 shares of the company's stock worth $116,857,000 after acquiring an additional 3,263,204 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Carnival by 9,220.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 3,297,434 shares of the company's stock worth $82,172,000 after acquiring an additional 3,262,055 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Carnival by 58.1% during the fourth quarter. Two Sigma Advisers LP now owns 7,056,246 shares of the company's stock worth $175,842,000 after acquiring an additional 2,593,046 shares in the last quarter. Institutional investors own 67.19% of the company's stock.

Analysts Set New Price Targets

CCL has been the topic of several recent research reports. Citigroup lifted their price target on shares of Carnival from $30.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. HSBC upgraded shares of Carnival from a "reduce" rating to a "hold" rating and set a $24.00 price target on the stock in a research note on Friday, May 16th. Stifel Nicolaus lifted their price target on shares of Carnival from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Bank of America lifted their price target on shares of Carnival from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Susquehanna lifted their price target on shares of Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a research note on Wednesday, June 25th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.71.

Carnival Stock Performance

NYSE CCL traded up $0.99 during trading on Wednesday, reaching $30.63. 22,064,794 shares of the company's stock were exchanged, compared to its average volume of 17,536,168. The business has a 50 day moving average price of $27.68 and a 200-day moving average price of $23.80. The stock has a market capitalization of $35.76 billion, a P/E ratio of 16.56, a PEG ratio of 0.66 and a beta of 2.70. 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 Corporation has a fifty-two week low of $14.53 and a fifty-two week high of $31.01.

Carnival (NYSE:CCL - Get Free Report) last announced its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The firm had revenue of $6.33 billion for the quarter, compared to the consensus estimate of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The business's revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 earnings per share. Sell-side analysts forecast that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Insider Activity at Carnival

In related news, Director Sir Jonathon Band sold 12,500 shares of Carnival stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total transaction of $371,875.00. Following the completion of the sale, the director 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 7.60% of the company's stock.

Carnival Company 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.