Carnival Corporation $CCL Shares Sold by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC decreased its stake in Carnival Corporation by 1.2%, holding approximately 0.07% of the company valued at about $16.18 million after selling 10,482 shares.
• HSBC upgraded Carnival's shares from a "reduce" to a "hold" rating with a price target of $24.00, as the stock is currently rated a "Moderate Buy" with an average target price of $30.71.
• Company insider Sir Jonathon Band sold 12,500 shares for a total of $371,875, reducing his position by 16.25%, bringing his ownership to approximately $1.92 million.

Kovitz Investment Group Partners LLC cut its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 828,532 shares of the company's stock after selling 10,482 shares during the period. Kovitz Investment Group Partners LLC owned approximately 0.07% of Carnival worth $16,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted 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 purchasing an additional 2,410,188 shares during the period. Nuveen Asset Management LLC raised its position in Carnival by 33.7% during the 4th quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company's stock worth $569,423,000 after buying an additional 5,761,489 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Carnival in the 1st quarter worth $432,718,000. Invesco Ltd. boosted its holdings in shares of Carnival by 24.7% in the first quarter. Invesco Ltd. now owns 12,965,228 shares of the company's stock valued at $253,211,000 after acquiring an additional 2,566,148 shares in the last quarter. Finally, Northern Trust Corp increased its stake 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 worth $265,116,000 after acquiring an additional 1,374,714 shares during the period. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Carnival Price Performance

Shares of CCL stock traded down $0.3260 during mid-day trading on Wednesday, reaching $29.2440. The stock had a trading volume of 12,250,328 shares, compared to its average volume of 17,404,562. The company has a market cap of $34.14 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 0.66 and a beta of 2.70. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58. Carnival Corporation has a 12-month low of $15.07 and a 12-month high of $31.01. The business has a 50-day simple moving average of $28.24 and a 200 day simple moving average of $23.87.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings data 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 period in the prior year, the company earned $0.11 EPS. The firm's revenue 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, sell-side analysts anticipate that Carnival Corporation will post 1.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wall Street Zen upgraded Carnival from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Mizuho upped their price objective on Carnival from $33.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. HSBC upgraded Carnival from a "reduce" rating to a "hold" rating and set a $24.00 price objective for the company in a research report on Friday, May 16th. Morgan Stanley boosted their target price on shares of Carnival from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Finally, Hsbc Global Res raised shares of Carnival from a "moderate sell" rating to a "hold" rating in a research note on Friday, May 16th. Thirteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $30.71.

Insider Buying and Selling at Carnival

In related news, Director Sir Jonathon Band sold 12,500 shares of Carnival stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total transaction of $371,875.00. Following the completion of the transaction, the director directly owned 64,406 shares in the company, valued at $1,916,078.50. The trade was a 16.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.60% of the stock is currently owned by company insiders.

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.