Forsta AP Fonden Sells 34,200 Shares of Carnival Corporation (NYSE:CCL)

Key Points

• Forsta AP Fonden has decreased its holdings in Carnival Corporation (NYSE:CCL) by 12.0%, owning 250,100 shares valued at approximately $4.88 million after selling 34,200 shares in the first quarter.
• Carnival's recent quarterly earnings reported a net revenue of $6.33 billion, surpassing analyst expectations, alongside an earnings per share of $0.35.
• Various analysts have recently adjusted their ratings on Carnival, with price targets ranging from $22.00 to $36.00, leading to a consensus rating of "Moderate Buy" and a target price of $30.71.

Forsta AP Fonden lowered its position in Carnival Corporation (NYSE:CCL - Free Report) by 12.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 250,100 shares of the company's stock after selling 34,200 shares during the quarter. Forsta AP Fonden's holdings in Carnival were worth $4,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in CCL. Measured Risk Portfolios Inc. acquired a new stake in Carnival during the 4th quarter valued at approximately $29,000. Orion Capital Management LLC acquired a new stake in Carnival during the 4th quarter valued at approximately $30,000. N.E.W. Advisory Services LLC acquired a new stake in Carnival during the 1st quarter valued at approximately $25,000. Graybill Wealth Management LTD. acquired a new stake in Carnival during the 1st quarter valued at approximately $26,000. Finally, Wealthquest Corp acquired a new stake in Carnival during the 1st quarter valued at approximately $36,000. Institutional investors and hedge funds own 67.19% of the company's stock.

Insiders Place Their Bets

In related news, Director Sir Jonathon Band sold 12,500 shares of Carnival stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total value 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. This trade represents a 16.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.60% of the company's stock.

Carnival Stock Performance

Shares of Carnival stock traded up $0.99 during trading hours on Wednesday, hitting $30.63. 22,064,794 shares of the company's stock traded hands, compared to its average volume of 24,009,686. Carnival Corporation has a 12-month low of $14.53 and a 12-month high of $31.01. The stock has a market capitalization of $35.76 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.64 and a beta of 2.70. The company has a fifty day simple moving average of $27.54 and a 200-day simple moving average of $23.75. 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 (NYSE:CCL - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.11. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The company had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the firm posted $0.11 EPS. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts anticipate that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Analyst Ratings Changes

CCL has been the subject of a number of recent analyst reports. Susquehanna increased their target price on shares of Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a research report on Wednesday, June 25th. Truist Financial increased their target price on Carnival from $27.00 to $31.00 and gave the stock a "hold" rating in a report on Monday, July 21st. Barclays increased their target price on Carnival from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Bank of America increased their price target on Carnival from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Citigroup raised their price objective on Carnival from $30.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.