Golden State Equity Partners Purchases Shares of 24,134 Carnival Corporation (NYSE:CCL)

Golden State Equity Partners acquired a new position in shares of Carnival Corporation (NYSE:CCL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 24,134 shares of the company's stock, valued at approximately $471,000.

Other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Carnival by 186.6% in the fourth quarter. FMR LLC now owns 9,898,906 shares of the company's stock valued at $246,681,000 after buying an additional 6,444,444 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Carnival by 33.7% in the fourth quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company's stock valued at $569,423,000 after buying an additional 5,761,489 shares during the period. Vanguard Group Inc. boosted its stake in shares of Carnival by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 117,095,566 shares of the company's stock valued at $2,918,022,000 after buying an additional 4,458,329 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of Carnival in the fourth quarter valued at approximately $100,845,000. Finally, AQR Capital Management LLC boosted its stake in shares of Carnival by 228.8% in the fourth quarter. AQR Capital Management LLC now owns 4,689,305 shares of the company's stock valued at $116,857,000 after buying an additional 3,263,204 shares during the period. Institutional investors own 67.19% of the company's stock.

Carnival Trading Up 4.4%

NYSE CCL traded up $1.14 on Friday, reaching $27.31. The company had a trading volume of 46,820,661 shares, compared to its average volume of 25,179,018. The firm has a market cap of $31.89 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 0.60 and a beta of 2.58. Carnival Corporation has a fifty-two week low of $13.78 and a fifty-two week high of $28.72. The business has a 50 day moving average of $22.24 and a two-hundred day moving average of $22.80. 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 posted its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The business had revenue of $6.33 billion during 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%. Carnival's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share. Analysts forecast that Carnival Corporation will post 1.77 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CCL shares. Hsbc Global Res upgraded Carnival from a "moderate sell" rating to a "hold" rating in a research note on Friday, May 16th. Tigress Financial restated a "buy" rating on shares of Carnival in a research note on Wednesday, March 26th. Loop Capital restated a "hold" rating and set a $22.00 target price on shares of Carnival in a research note on Monday, June 23rd. Bank of America upped their target price on Carnival from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Mizuho upped their target price on Carnival from $33.00 to $35.00 and gave the stock an "outperform" rating in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Carnival currently has a consensus rating of "Moderate Buy" and an average price target of $28.53.

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.