Nisa Investment Advisors LLC Lowers Position in Carnival Corporation (NYSE:CCL)

Nisa Investment Advisors LLC trimmed its holdings in shares of Carnival Corporation (NYSE:CCL - Free Report) by 17.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,659 shares of the company's stock after selling 30,284 shares during the quarter. Nisa Investment Advisors LLC's holdings in Carnival were worth $2,845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Measured Risk Portfolios Inc. purchased a new stake in Carnival in the 4th quarter worth about $29,000. Orion Capital Management LLC purchased a new position in Carnival in the fourth quarter worth $30,000. Millstone Evans Group LLC purchased a new position in Carnival in the fourth quarter worth $34,000. 1620 Investment Advisors Inc. purchased a new position in Carnival in the fourth quarter worth $42,000. Finally, Wealthquest Corp purchased a new stake in shares of Carnival during the first quarter valued at $36,000. 67.19% of the stock is owned by hedge funds and other institutional investors.

Carnival Stock Down 1.5%

Carnival stock traded down $0.43 during mid-day trading on Friday, reaching $28.67. 14,572,616 shares of the company's stock were exchanged, compared to its average volume of 25,252,227. Carnival Corporation has a twelve month low of $13.78 and a twelve month high of $30.46. The company has a fifty day moving average of $24.36 and a 200-day moving average of $23.05. The company has a market cap of $33.47 billion, a P/E ratio of 15.50, a P/E/G ratio of 0.63 and a beta of 2.61. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.58.

Carnival (NYSE:CCL - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 earnings per share 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 business had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period last year, the business earned $0.11 EPS. The company's revenue was up 9.5% on a year-over-year basis. Sell-side analysts expect that Carnival Corporation will post 1.77 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CCL shares. Macquarie dropped their price objective on shares of Carnival from $31.00 to $26.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. HSBC upgraded shares of 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. Truist Financial set a $27.00 price objective on shares of Carnival in a research report on Monday, June 23rd. Susquehanna upped 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, Morgan Stanley increased their price target on shares of Carnival from $21.00 to $24.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Carnival has a consensus rating of "Moderate Buy" and an average price target of $28.65.

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.