Federation des caisses Desjardins du Quebec Sells 8,556 Shares of Carnival Corporation $CCL

Key Points

• Federation des caisses Desjardins du Quebec has reduced its stake in Carnival Corporation by 7.1%, selling 8,556 shares, resulting in a total holding of 111,177 shares valued at approximately $2.17 million.
• Carnival Corporation reported strong financial results in its recent quarterly earnings, beating EPS estimates by $0.11 and achieving $6.33 billion in revenue, which was higher than analyst expectations.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Carnival Corporation, with several raising their price targets, indicating positive future growth prospects.

Federation des caisses Desjardins du Quebec lowered its position in shares of Carnival Corporation (NYSE:CCL - Free Report) by 7.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,177 shares of the company's stock after selling 8,556 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Carnival were worth $2,172,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new position in Carnival during the first quarter valued at approximately $25,000. Graybill Wealth Management LTD. purchased a new position in shares of Carnival in the first quarter worth $26,000. Measured Risk Portfolios Inc. purchased a new position in shares of Carnival in the fourth quarter worth $29,000. Orion Capital Management LLC purchased a new position in shares of Carnival in the fourth quarter worth $30,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Carnival in the first quarter worth $35,000. Hedge funds and other institutional investors own 67.19% of the company's stock.

Carnival Trading Down 2.8%

Shares of CCL traded down $0.92 during trading hours on Friday, reaching $31.55. 12,993,248 shares of the company traded hands, compared to its average volume of 15,040,851. The firm has a market cap of $36.83 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.73 and a beta of 2.70. Carnival Corporation has a 12-month low of $15.07 and a 12-month high of $32.80. The stock's fifty day moving average price is $30.19 and its 200 day moving average price is $24.55. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58.

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

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Carnival from $31.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Mizuho upped their price target on shares of Carnival from $33.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Tigress Financial upped their price target on shares of Carnival from $32.00 to $38.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Morgan Stanley upped their price target on shares of Carnival from $21.00 to $24.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Finally, Barclays upped their price target on shares of Carnival from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Thirteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.71.

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.