Carnival Corporation $CCL Shares Acquired by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Carnival Corporation by 26.9% during the first quarter, now owning 124,971 shares valued at approximately $2.44 million.
• Brokerages have recently adjusted their price targets for Carnival, with Truist Financial raising it from $27 to $31 while others have shifted ratings, leading to a consensus rating of "Moderate Buy" and a target price of $30.71.
• Carnival reported better-than-expected earnings for the quarter with a revenue of $6.33 billion and EPS of $0.35, surpassing analyst expectations.

OMERS ADMINISTRATION Corp raised its holdings in Carnival Corporation (NYSE:CCL - Free Report) by 26.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 124,971 shares of the company's stock after purchasing an additional 26,466 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Carnival were worth $2,441,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Causeway Capital Management LLC acquired a new position in Carnival in the 1st quarter valued at about $518,816,000. Nuveen LLC acquired a new stake in shares of Carnival during the first quarter worth $432,718,000. Nuveen Asset Management LLC grew its position in Carnival by 33.7% in the 4th quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company's stock valued at $569,423,000 after buying an additional 5,761,489 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Carnival in the 4th quarter valued at $100,845,000. Finally, D. E. Shaw & Co. Inc. lifted its stake in shares of Carnival by 9,220.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,297,434 shares of the company's stock worth $82,172,000 after acquiring an additional 3,262,055 shares during the period. Institutional investors and hedge funds own 67.19% of the company's stock.

Insider Buying and Selling at Carnival

In other news, Director Sir Jonathon Band sold 12,500 shares of the business's stock in a transaction dated 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 sale, the director owned 64,406 shares in the company, valued at approximately $1,916,078.50. The trade was a 16.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CCL. HSBC upgraded shares of Carnival from a "reduce" rating to a "hold" rating and set a $24.00 price target on the stock in a research note on Friday, May 16th. TD Cowen assumed coverage on Carnival in a report on Tuesday, July 22nd. They issued a "buy" rating and a $36.00 price target for the company. Truist Financial lifted their price target on Carnival from $27.00 to $31.00 and gave the company a "hold" rating in a research note on Monday, July 21st. Macquarie cut their price objective on Carnival from $31.00 to $26.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, Bank of America boosted their target price on shares of Carnival from $31.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Thirteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.71.

Carnival Trading Up 0.7%

NYSE:CCL traded up $0.21 on Wednesday, reaching $31.37. The stock had a trading volume of 7,944,107 shares, compared to its average volume of 23,283,080. Carnival Corporation has a 12-month low of $15.07 and a 12-month high of $32.77. The firm's fifty day moving average is $29.63 and its two-hundred day moving average is $24.17. The company has a market cap of $36.62 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 0.71 and a beta of 2.70. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. Carnival had a return on equity of 27.88% and a net margin of 9.72%.The company had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the prior year, the company posted $0.11 EPS. The business's revenue for the quarter was up 9.5% compared to the same quarter last year. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. Equities analysts expect that Carnival Corporation will post 1.77 EPS for the current fiscal year.

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.