Harvest Portfolios Group Inc. Sells 18,221 Shares of Carnival Corporation $CCL

Key Points

• Harvest Portfolios Group Inc. reduced its stake in Carnival Corporation by 12.1%, now holding 132,242 shares valued at $2,583,000 after selling 18,221 shares in the 1st quarter.
• Institutional investors own 67.19% of Carnival Corporation's stock, with several hedge funds increasing their stakes in the company during the last quarter.
• Carnival recently set its FY 2025 earnings guidance at $1.970 EPS, with the company having reported a net margin of 9.72% and revenue of $6.33 billion for the last quarter.

Harvest Portfolios Group Inc. trimmed its position in shares of Carnival Corporation (NYSE:CCL - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 132,242 shares of the company's stock after selling 18,221 shares during the period. Harvest Portfolios Group Inc.'s holdings in Carnival were worth $2,583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CCL. Price T Rowe Associates Inc. MD raised its stake in shares of Carnival by 4.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,476,588 shares of the company's stock valued at $36,798,000 after acquiring an additional 60,833 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Carnival by 5.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 22,775 shares of the company's stock valued at $568,000 after acquiring an additional 1,244 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Carnival by 2.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 627,132 shares of the company's stock valued at $15,628,000 after buying an additional 16,529 shares during the period. Northern Trust Corp increased its position in shares of Carnival by 14.8% during the fourth quarter. Northern Trust Corp now owns 10,638,692 shares of the company's stock valued at $265,116,000 after buying an additional 1,374,714 shares during the period. Finally, Lido Advisors LLC increased its position in shares of Carnival by 3.5% during the fourth quarter. Lido Advisors LLC now owns 41,057 shares of the company's stock valued at $1,023,000 after buying an additional 1,374 shares during the period. 67.19% of the stock is owned by institutional investors.

Insider Activity at Carnival

In other news, Director Sir Jonathon Band sold 12,500 shares of the stock in a transaction that occurred on 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 owned 64,406 shares in the company, valued at $1,916,078.50. This represents a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.60% of the stock is currently owned by insiders.

Carnival Trading Up 2.1%

NYSE:CCL opened at $31.89 on Wednesday. The company's 50 day moving average price is $28.85 and its 200-day moving average price is $23.96. Carnival Corporation has a 52 week low of $15.07 and a 52 week high of $31.91. 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 stock has a market cap of $37.23 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 0.70 and a beta of 2.70.

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, beating analysts' consensus estimates 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 analysts' expectations of $6.20 billion. During the same quarter in the prior year, the company posted $0.11 earnings per share. The business's revenue for the quarter was up 9.5% on a year-over-year basis. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. On average, equities research analysts forecast that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on CCL shares. Truist Financial boosted their price target on shares of Carnival from $27.00 to $31.00 and gave the company a "hold" rating in a research report on Monday, July 21st. Tigress Financial boosted their price target 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. Zacks Research cut shares of Carnival from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Bank of America boosted their price target on shares of Carnival from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, TD Cowen started coverage on shares of Carnival in a research report on Tuesday, July 22nd. They set a "buy" rating and a $36.00 price target on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $30.71.

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.

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