Graham Capital Management L.P. Sells 13,454 Shares of Carnival Corporation $CCL

Key Points

• Graham Capital Management L.P. has reduced its stake in Carnival Corporation (NYSE: CCL) by 7.4%, now holding 168,543 shares valued at approximately $3.29 million.
• Carnival recently reported $6.33 billion in revenue for the last quarter, surpassing analyst expectations and showing a 9.5% increase compared to the same quarter last year.
• Thirteen investment analysts have rated Carnival Corp. stock as a Buy, contributing to an average target price of $30.71.

Graham Capital Management L.P. cut its position in Carnival Corporation (NYSE:CCL - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 168,543 shares of the company's stock after selling 13,454 shares during the period. Graham Capital Management L.P.'s holdings in Carnival were worth $3,292,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Carnival by 2.1% during the first quarter. Vanguard Group Inc. now owns 119,505,754 shares of the company's stock worth $2,333,947,000 after acquiring an additional 2,410,188 shares during the period. Causeway Capital Management LLC acquired a new stake in shares of Carnival during the first quarter worth $518,816,000. Nuveen Asset Management LLC raised its holdings 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 during the period. Nuveen LLC acquired a new stake in shares of Carnival during the first quarter worth $432,718,000. Finally, Invesco Ltd. raised its holdings in shares of Carnival by 24.7% during the first quarter. Invesco Ltd. now owns 12,965,228 shares of the company's stock worth $253,211,000 after acquiring an additional 2,566,148 shares during the period. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Carnival Stock Up 0.5%

CCL stock traded up $0.15 during midday trading on Wednesday, hitting $31.31. The company's stock had a trading volume of 12,015,679 shares, compared to its average volume of 14,971,405. 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 twelve month low of $15.07 and a twelve month high of $32.77. The company's fifty day moving average price is $29.75 and its 200 day moving average price is $24.22. The stock has a market capitalization of $36.55 billion, a P/E ratio of 16.92, a PEG ratio of 0.71 and a beta of 2.70.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The firm had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the business earned $0.11 EPS. The company's revenue was up 9.5% compared to the same quarter last year. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. As a group, equities research analysts predict that Carnival Corporation will post 1.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. HSBC upgraded shares of Carnival from a "reduce" rating to a "hold" rating and set a $24.00 price objective on the stock in a report on Friday, May 16th. Morgan Stanley raised their price objective on shares of Carnival from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Loop Capital restated a "hold" rating and set a $22.00 price objective on shares of Carnival in a report on Monday, June 23rd. Susquehanna raised their price objective on shares of Carnival from $27.00 to $30.00 and gave the stock a "positive" rating in a report on Wednesday, June 25th. Finally, Barclays lifted 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 analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Carnival has an average rating of "Moderate Buy" and an average target price of $30.71.

Insider Activity

In other news, Director Sir Jonathon Band sold 12,500 shares of the company'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 sale, the director directly owned 64,406 shares of the company's stock, valued at approximately $1,916,078.50. This represents a 16.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.60% of the company's stock.

Carnival 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.