Los Angeles Capital Management LLC Reduces Position in Carnival Corporation (NYSE:CCL)

Los Angeles Capital Management LLC trimmed its stake in Carnival Corporation (NYSE:CCL - Free Report) by 18.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,757,996 shares of the company's stock after selling 394,338 shares during the period. Los Angeles Capital Management LLC owned approximately 0.15% of Carnival worth $34,334,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CCL. Measured Risk Portfolios Inc. bought a new stake in Carnival during the 4th quarter valued at $29,000. Orion Capital Management LLC acquired a new stake in Carnival during the 4th quarter worth about $30,000. Graybill Wealth Management LTD. acquired a new position in shares of Carnival in the 1st quarter valued at about $26,000. Millstone Evans Group LLC acquired a new position in shares of Carnival in the 4th quarter valued at about $34,000. Finally, Wealthquest Corp purchased a new position in shares of Carnival in the 1st quarter valued at about $36,000. 67.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CCL. Tigress Financial reissued a "buy" rating on shares of Carnival in a report on Wednesday, March 26th. Loop Capital restated a "hold" rating and issued a $22.00 price target on shares of Carnival in a report on Monday, June 23rd. Wall Street Zen upgraded Carnival from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Susquehanna boosted their price objective on shares of Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a research note on Wednesday, June 25th. Finally, Stifel Nicolaus upped their price target on shares of Carnival from $33.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $29.67.

Carnival Trading Up 0.5%

Shares of CCL traded up $0.14 on Tuesday, reaching $29.93. 12,880,989 shares of the company's stock were exchanged, compared to its average volume of 25,049,340. Carnival Corporation has a 12 month low of $13.78 and a 12 month high of $30.46. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58. The stock has a market capitalization of $34.93 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 0.65 and a beta of 2.61. The business has a 50 day moving average price of $25.30 and a two-hundred day moving average price of $23.18.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.33 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The firm's revenue was up 9.5% compared to the same quarter last year. Research analysts anticipate that Carnival Corporation will post 1.77 earnings per share for the current year.

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.