Patton Fund Management Inc. Has $3.54 Million Stock Holdings in Carnival Corporation (NYSE:CCL)

Patton Fund Management Inc. lowered its position in Carnival Corporation (NYSE:CCL - Free Report) by 21.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 181,180 shares of the company's stock after selling 48,667 shares during the period. Patton Fund Management Inc.'s holdings in Carnival were worth $3,538,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CCL. Prestige Wealth Management Group LLC increased its stake in shares of Carnival by 23.1% in the 4th quarter. Prestige Wealth Management Group LLC now owns 2,173 shares of the company's stock valued at $54,000 after acquiring an additional 408 shares during the last quarter. Sound View Wealth Advisors Group LLC increased its stake in Carnival by 3.3% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 14,917 shares of the company's stock valued at $372,000 after purchasing an additional 475 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Carnival by 39.2% in the fourth quarter. Venturi Wealth Management LLC now owns 2,207 shares of the company's stock worth $55,000 after purchasing an additional 622 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Carnival by 1.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 45,816 shares of the company's stock worth $1,142,000 after purchasing an additional 770 shares in the last quarter. Finally, TCW Group Inc. grew its holdings in shares of Carnival by 5.8% in the 4th quarter. TCW Group Inc. now owns 14,445 shares of the company's stock valued at $360,000 after buying an additional 788 shares during the period. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival Stock Up 1.4%

Shares of NYSE CCL traded up $0.33 during trading hours on Wednesday, hitting $23.61. The company had a trading volume of 19,254,428 shares, compared to its average volume of 25,385,688. The stock has a market capitalization of $27.54 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 0.54 and a beta of 2.58. Carnival Corporation has a 1-year low of $13.78 and a 1-year high of $28.72. The firm's 50 day moving average is $21.13 and its 200-day moving average is $22.89. The company has a quick ratio of 0.21, a current ratio of 0.26 and a debt-to-equity ratio of 2.78.

Carnival (NYSE:CCL - Get Free Report) last announced its quarterly earnings data on Friday, March 21st. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.11. Carnival had a net margin of 8.07% and a return on equity of 26.53%. The company had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter last year, the firm posted ($0.14) EPS. The company's quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts expect that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CCL has been the topic of several recent analyst reports. Macquarie reduced their target price on Carnival from $31.00 to $26.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Morgan Stanley upgraded Carnival from an "underweight" rating to an "equal weight" rating and decreased their price objective for the company from $25.00 to $21.00 in a research report on Thursday, April 10th. Loop Capital increased their target price on Carnival from $21.00 to $22.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Stifel Nicolaus lifted their price target on shares of Carnival from $31.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Finally, Hsbc Global Res raised shares of Carnival from a "moderate sell" rating to a "hold" rating in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $26.79.

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.