Mizuho Securities USA LLC Reduces Stock Holdings in Carnival Corporation (NYSE:CCL)

Key Points

• Mizuho Securities USA LLC reduced its holdings in Carnival Corporation by 14.8%, now owning 83,896 shares valued at approximately $1.6 million.
• Institutional investors continue to play a significant role in Carnival's stock, with 67.19% of shares currently owned by such entities, including National Bank of Canada FI increasing their stake by 56.1%.
• Several analysts have upgraded their ratings on Carnival stock, with target prices ranging from $30 to $38, resulting in a consensus rating of "Moderate Buy".

Mizuho Securities USA LLC trimmed its holdings in shares of Carnival Corporation (NYSE:CCL - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,896 shares of the company's stock after selling 14,554 shares during the quarter. Mizuho Securities USA LLC's holdings in Carnival were worth $1,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCL. Townsquare Capital LLC grew its stake in Carnival by 11.8% during the 1st quarter. Townsquare Capital LLC now owns 31,906 shares of the company's stock valued at $623,000 after purchasing an additional 3,372 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Carnival during the 1st quarter valued at about $35,000. National Bank of Canada FI grew its stake in Carnival by 56.1% during the 1st quarter. National Bank of Canada FI now owns 862,640 shares of the company's stock valued at $16,846,000 after purchasing an additional 310,091 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Carnival by 8.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,814,479 shares of the company's stock valued at $35,437,000 after purchasing an additional 135,913 shares during the last quarter. Finally, CenterBook Partners LP purchased a new stake in Carnival during the 1st quarter valued at about $1,933,000. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Carnival

In other Carnival news, Director Sir Jonathon Band sold 12,500 shares of the 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 owned 64,406 shares of the company's stock, valued at $1,916,078.50. This represents a 16.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Hsbc Global Res upgraded Carnival from a "moderate sell" rating to a "hold" rating in a research note on Friday, May 16th. TD Cowen assumed coverage on Carnival in a research note on Tuesday, July 22nd. They set a "buy" rating and a $36.00 price target on the stock. Tigress Financial upped their target price on Carnival from $32.00 to $38.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Bank of America upped their target price on Carnival from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Citigroup upped their target price on Carnival from $30.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Carnival presently has an average rating of "Moderate Buy" and a consensus target price of $30.71.

Carnival Stock Performance

Shares of CCL stock opened at $28.60 on Tuesday. The company has a market capitalization of $33.39 billion, a P/E ratio of 15.46, a P/E/G ratio of 0.63 and a beta of 2.70. The business's 50 day moving average is $27.43 and its two-hundred day moving average is $23.71. 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 $14.49 and a 12-month high of $31.01.

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, topping analysts' consensus estimates of $0.24 by $0.11. The company had revenue of $6.33 billion for 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 revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.11 earnings per share. Analysts expect that Carnival Corporation will post 1.77 EPS for the current fiscal year.

About Carnival

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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