QRG Capital Management Inc. Has $31.77 Million Stock Position in Carnival Corporation $CCL

Key Points

• QRG Capital Management Inc. has increased its stake in Carnival Corporation by 22.1%, owning approximately $31.77 million worth of shares as of the latest reporting period.
• Several institutional investors have also made significant changes to their holdings in Carnival, with notable increases from firms like Mirae Asset Global Investments and Shellback Capital.
• Wall Street analysts are optimistic about Carnival's financial outlook, with multiple firms raising their price targets, indicating a consensus rating of "Moderate Buy" and an average target price of $32.90.

QRG Capital Management Inc. grew its stake in Carnival Corporation (NYSE:CCL - Free Report) by 22.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,129,923 shares of the company's stock after buying an additional 204,701 shares during the quarter. QRG Capital Management Inc. owned 0.10% of Carnival worth $31,773,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in Carnival by 31.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,160 shares of the company's stock worth $2,427,000 after purchasing an additional 28,890 shares during the period. IFM Investors Pty Ltd raised its position in Carnival by 6.2% in the 1st quarter. IFM Investors Pty Ltd now owns 183,954 shares of the company's stock valued at $3,399,000 after buying an additional 10,739 shares during the last quarter. Mount Lucas Management LP raised its position in Carnival by 42.5% in the 1st quarter. Mount Lucas Management LP now owns 65,754 shares of the company's stock valued at $1,284,000 after buying an additional 19,601 shares during the last quarter. Personal CFO Solutions LLC bought a new stake in Carnival in the 1st quarter valued at approximately $196,000. Finally, Shellback Capital LP boosted its position in Carnival by 135.3% during the 1st quarter. Shellback Capital LP now owns 1,000,000 shares of the company's stock worth $19,530,000 after acquiring an additional 575,000 shares during the last quarter. Institutional investors own 67.19% of the company's stock.

Insider Buying and Selling

In other Carnival news, Director Sir Jonathon Band sold 12,500 shares of Carnival stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total value of $371,875.00. Following the completion of the sale, the director owned 64,406 shares in the company, valued at $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 is available through the SEC website. Corporate insiders own 7.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CCL. Tigress Financial lifted their price objective on shares of Carnival from $32.00 to $38.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. raised their target price on shares of Carnival from $34.00 to $39.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Truist Financial increased their price target on Carnival from $27.00 to $31.00 and gave the company a "hold" rating in a research report on Monday, July 21st. Melius Research raised their target price on shares of Carnival from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Finally, Loop Capital reissued a "hold" rating and set a $22.00 price target on shares of Carnival in a research report on Monday, June 23rd. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Carnival has a consensus rating of "Moderate Buy" and an average target price of $32.90.

Carnival Price Performance

Shares of NYSE CCL opened at $28.56 on Friday. The firm has a market cap of $33.34 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 0.61 and a beta of 2.68. The business's 50 day moving average is $30.42 and its 200-day moving average is $25.48. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.10. Carnival Corporation has a 1-year low of $15.07 and a 1-year high of $32.80.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings data on Monday, September 29th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.32 by $0.11. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.09 billion. Carnival had a return on equity of 27.86% and a net margin of 10.07%.The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 EPS. Carnival has set its Q4 2025 guidance at 0.230-0.230 EPS. FY 2025 guidance at 2.140-2.140 EPS. Equities research analysts predict that Carnival Corporation will post 1.77 earnings per share for the current 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.

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