Russell Investments Group Ltd. lessened its stake in Carnival Corporation (NYSE:CCL - Free Report) by 22.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,493,283 shares of the company's stock after selling 433,131 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.13% of Carnival worth $29,563,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new stake in Carnival in the 1st quarter worth $25,000. Graybill Wealth Management LTD. acquired a new stake in shares of Carnival in the first quarter valued at about $26,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Carnival in the fourth quarter valued at about $29,000. Orion Capital Management LLC acquired a new stake in shares of Carnival in the fourth quarter valued at about $30,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Carnival in the first quarter valued at about $35,000. Hedge funds and other institutional investors own 67.19% of the company's stock.
Carnival Stock Down 1.7%
CCL stock opened at $29.74 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58. Carnival Corporation has a twelve month low of $15.07 and a twelve month high of $31.01. The company's 50 day moving average is $27.91 and its two-hundred day moving average is $23.84. The stock has a market cap of $34.72 billion, a P/E ratio of 16.08, a PEG ratio of 0.68 and a beta of 2.70.
Carnival (NYSE:CCL - Get Free Report) last released its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The company had revenue of $6.33 billion for the quarter, compared to analysts' expectations of $6.20 billion. During the same quarter last year, the company earned $0.11 earnings per share. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. Research analysts expect that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on CCL shares. Susquehanna increased their target price on shares of Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a research report on Wednesday, June 25th. Tigress Financial upped 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. Mizuho upped their price objective on shares of Carnival from $33.00 to $35.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Macquarie dropped their price objective on shares of Carnival from $31.00 to $26.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Finally, Truist Financial upped their price objective on shares of Carnival from $27.00 to $31.00 and gave the company a "hold" rating in a report on Monday, July 21st. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Carnival currently has an average rating of "Moderate Buy" and a consensus target price of $30.71.
Read Our Latest Research Report on Carnival
Insiders Place Their Bets
In other Carnival news, Director Sir Jonathon Band sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total transaction of $371,875.00. Following the sale, the director owned 64,406 shares of the company's stock, valued at approximately $1,916,078.50. This trade represents a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.60% of the company's stock.
About Carnival
(
Free Report)
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.
Read More
Want to see what other hedge funds are holding CCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carnival Corporation (NYSE:CCL - Free Report).

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