Public Employees Retirement System of Ohio Grows Position in Carnival Corporation $CCL

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Carnival Corporation by 6.2%, owning a total of 335,578 shares worth approximately $9.4 million.
• Several institutional investors, including Causeway Capital Management and AGF Management, significantly increased their positions in Carnival during the first quarter, indicating strong interest in the company.
• Analysts have updated their price targets for Carnival, with firms like Citigroup and JPMorgan Chase increasing their targets to as high as $39.00, reflecting a generally positive outlook on the stock.

Public Employees Retirement System of Ohio grew its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 335,578 shares of the company's stock after purchasing an additional 19,551 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Carnival were worth $9,436,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Causeway Capital Management LLC bought a new position in Carnival in the first quarter worth $518,816,000. Nuveen LLC bought a new position in shares of Carnival during the first quarter valued at $432,718,000. 59 North Capital Management LP bought a new position in shares of Carnival during the first quarter valued at $69,303,000. AGF Management Ltd. increased its holdings in shares of Carnival by 14,603.8% during the first quarter. AGF Management Ltd. now owns 2,871,219 shares of the company's stock valued at $56,075,000 after acquiring an additional 2,851,692 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Carnival by 24.7% during the first quarter. Invesco Ltd. now owns 12,965,228 shares of the company's stock valued at $253,211,000 after acquiring an additional 2,566,148 shares in the last quarter. Hedge funds and other institutional investors own 67.19% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on CCL. Melius Research increased their price objective on Carnival from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Zacks Research cut Carnival from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Citigroup increased their price objective on Carnival from $30.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Susquehanna increased their price objective on Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a research report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. increased their price objective on Carnival from $34.00 to $39.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Carnival has a consensus rating of "Moderate Buy" and a consensus price target of $31.95.

Insider Buying and Selling at Carnival

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

Carnival Stock Up 0.6%

CCL stock opened at $30.67 on Friday. Carnival Corporation has a twelve month low of $15.07 and a twelve month high of $32.80. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.58. The stock has a market cap of $35.80 billion, a P/E ratio of 16.58, a PEG ratio of 0.68 and a beta of 2.70. The business's 50-day moving average price is $30.54 and its 200-day moving average price is $25.21.

Carnival Company 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.

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