Raymond James Financial Inc. Buys 85,782 Shares of Carnival Corporation $CCL

Key Points

• Raymond James Financial Inc. increased its shareholding in Carnival Corporation by 9.9%, owning a total of 956,064 shares worth approximately $18.67 million following their latest 13F filing.
• Several brokerage firms have upgraded their ratings and target prices for Carnival, with Wall Street Zen rating it a "buy" and target prices ranging from $30.00 to $34.00.
• Carnival's latest earnings report revealed an EPS of $0.35, surpassing analyst estimates of $0.24, alongside quarterly revenue of $6.33 billion, reflecting a 9.5% increase from the previous year.

Raymond James Financial Inc. raised its holdings in shares of Carnival Corporation (NYSE:CCL - Free Report) by 9.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 956,064 shares of the company's stock after acquiring an additional 85,782 shares during the period. Raymond James Financial Inc. owned approximately 0.08% of Carnival worth $18,672,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CCL. Nuveen LLC bought a new stake in shares of Carnival during the 1st quarter valued at $432,718,000. Nuveen Asset Management LLC raised its position in shares of Carnival by 33.7% during the 4th quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company's stock valued at $569,423,000 after acquiring an additional 5,761,489 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Carnival during the 4th quarter valued at $100,845,000. AQR Capital Management LLC raised its position in shares of Carnival by 228.8% during the 4th quarter. AQR Capital Management LLC now owns 4,689,305 shares of the company's stock valued at $116,857,000 after acquiring an additional 3,263,204 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Carnival by 9,220.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,297,434 shares of the company's stock valued at $82,172,000 after acquiring an additional 3,262,055 shares during the last quarter. Institutional investors own 67.19% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on CCL. Bank of America upped their price objective on shares of Carnival from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Mizuho upped their price objective on shares of Carnival from $33.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Stifel Nicolaus upped their price objective on shares of Carnival from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Wall Street Zen upgraded shares of Carnival from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Finally, Zacks Research cut shares of Carnival from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Thirteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $30.71.

Carnival Stock Down 1.8%

CCL stock traded down $0.59 during trading hours on Monday, reaching $31.90. 14,825,997 shares of the stock were exchanged, compared to its average volume of 15,751,877. The firm's 50-day moving average is $29.37 and its 200-day moving average is $24.08. The company has a market cap of $37.24 billion, a price-to-earnings ratio of 17.24, a PEG 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 Corporation has a 12 month low of $15.07 and a 12 month high of $32.77.

Carnival (NYSE:CCL - Get Free Report) last released its earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The firm 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%.The company's revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. On average, equities research analysts expect that Carnival Corporation will post 1.77 earnings per share for the current year.

Insider Transactions at Carnival

In other Carnival news, Director Sir Jonathon Band sold 12,500 shares of the 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 transaction, the director owned 64,406 shares in the company, valued at approximately $1,916,078.50. This represents a 16.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.60% of the company's stock.

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.