Perpetual Ltd Acquires 56,807 Shares of Carnival Corporation $CCL

Key Points

• Perpetual Ltd increased its stake in Carnival Corporation by 3.5%, owning 1,686,904 shares worth approximately $47.4 million.
• Several hedge funds have also bolstered their holdings in Carnival, with investments from firms like Tidal Investments increasing by 65.8% in the fourth quarter.
• Carnival reported strong quarterly earnings, with an EPS of $0.35, surpassing analyst expectations, and set FY 2025 guidance at $1.970 EPS.

Perpetual Ltd increased its stake in Carnival Corporation (NYSE:CCL - Free Report) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,686,904 shares of the company's stock after purchasing an additional 56,807 shares during the quarter. Perpetual Ltd owned about 0.14% of Carnival worth $47,436,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new position in shares of Carnival in the first quarter valued at $25,000. Graybill Wealth Management LTD. purchased a new position in shares of Carnival in the first quarter valued at $26,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Carnival in the second quarter valued at $28,000. Orion Capital Management LLC purchased a new position in shares of Carnival in the fourth quarter valued at $30,000. Finally, Banque Transatlantique SA purchased a new position in shares of Carnival in the first quarter valued at $33,000. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on CCL shares. Citigroup boosted their target price on Carnival from $30.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Barclays upped their target price on Carnival from $33.00 to $37.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 17th. Melius Research upped their target price on Carnival from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Loop Capital restated a "hold" rating and issued a $22.00 target price on shares of Carnival in a research note on Monday, June 23rd. Finally, Truist Financial upped their target price on Carnival from $27.00 to $31.00 and gave the stock a "hold" rating in a research note on Monday, July 21st. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.84.

Carnival Trading Up 1.4%

CCL stock traded up $0.42 during trading on Tuesday, hitting $31.13. 11,929,635 shares of the company traded hands, compared to its average volume of 22,893,760. The firm has a market capitalization of $36.34 billion, a PE ratio of 16.83, a P/E/G ratio of 0.68 and a beta of 2.70. Carnival Corporation has a 1 year low of $15.07 and a 1 year high of $32.80. The company has a 50-day moving average of $30.43 and a 200-day moving average of $24.94. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34.

Carnival (NYSE:CCL - Get Free Report) last issued its earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. The company had revenue of $6.33 billion during the quarter, compared to analysts' expectations of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%.Carnival's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. Analysts predict that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carnival news, Director Sir Jonathon Band sold 12,500 shares of the company's 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.60% of the stock is owned by corporate insiders.

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.