Fulton Bank N.A. Makes New $262,000 Investment in Carnival Corporation $CCL

Key Points

• Fulton Bank N.A. invested approximately $262,000 in Carnival Corporation by purchasing 9,325 shares during the second quarter.
• Carnival's stock recently experienced a 2.8% decline and is currently trading at $30.56, with a one-year range of $15.07 to $32.80.
• Research analysts have raised their price targets for Carnival, with Mizuho setting a new target of $35.00 and a consensus price target of $31.63 based on various ratings.

Fulton Bank N.A. purchased a new position in Carnival Corporation (NYSE:CCL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,325 shares of the company's stock, valued at approximately $262,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Woodline Partners LP purchased a new stake in Carnival in the fourth quarter worth about $1,555,000. Waverly Advisors LLC purchased a new stake in shares of Carnival during the fourth quarter valued at approximately $616,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Carnival by 12.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,417,838 shares of the company's stock valued at $110,093,000 after purchasing an additional 492,956 shares during the period. Focus Partners Advisor Solutions LLC lifted its position in Carnival by 51.6% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 23,113 shares of the company's stock valued at $576,000 after purchasing an additional 7,870 shares during the period. Finally, Vise Technologies Inc. bought a new position in Carnival during the fourth quarter valued at approximately $368,000. 67.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Carnival 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 transaction of $371,875.00. Following the sale, the director directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.60% of the company's stock.

Carnival Stock Up 0.8%

NYSE CCL traded up $0.25 on Tuesday, hitting $30.96. 13,812,116 shares of the stock were exchanged, compared to its average volume of 22,906,436. The company has a 50-day moving average price of $30.43 and a 200-day moving average price of $24.94. Carnival Corporation has a fifty-two week low of $15.07 and a fifty-two week high of $32.80. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.58. The company has a market cap of $36.14 billion, a PE ratio of 16.75, a PEG ratio of 0.68 and a beta of 2.70.

Carnival (NYSE:CCL - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. The firm had revenue of $6.33 billion during 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%. Carnival's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 EPS. Sell-side analysts anticipate that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on CCL shares. Tigress Financial raised their price objective on shares of Carnival from $32.00 to $38.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Truist Financial lifted their price objective on shares of Carnival from $27.00 to $31.00 and gave the stock a "hold" rating in a research note on Monday, July 21st. Citigroup raised their target price on shares of Carnival from $30.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Zacks Research lowered shares of Carnival from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Finally, Loop Capital restated a "hold" rating and issued a $22.00 price target on shares of Carnival in a report on Monday, June 23rd. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $31.84.

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.