SBI Securities Co. Ltd. Increases Stock Holdings in Carnival Corporation (NYSE:CCL)

SBI Securities Co. Ltd. raised its position in Carnival Corporation (NYSE:CCL - Free Report) by 24.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 290,742 shares of the company's stock after buying an additional 57,953 shares during the quarter. SBI Securities Co. Ltd.'s holdings in Carnival were worth $5,678,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Carnival during the 4th quarter worth approximately $59,486,000. Beck Bode LLC acquired a new position in shares of Carnival in the 4th quarter worth approximately $5,715,000. Itau Unibanco Holding S.A. acquired a new position in shares of Carnival in the 4th quarter worth approximately $5,113,000. Korea Investment CORP lifted its position in shares of Carnival by 36.7% in the 4th quarter. Korea Investment CORP now owns 1,090,909 shares of the company's stock worth $27,185,000 after purchasing an additional 293,154 shares during the period. Finally, Allstate Corp acquired a new position in shares of Carnival in the 4th quarter worth approximately $767,000. 67.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CCL. Citigroup lifted their price objective on shares of Carnival from $28.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Truist Financial set a $27.00 price target on shares of Carnival in a research note on Monday, June 23rd. Stifel Nicolaus boosted their price target on shares of Carnival from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Wall Street Zen upgraded shares of Carnival from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, Loop Capital restated a "hold" rating and set a $22.00 price target on shares of Carnival in a research note on Monday, June 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Carnival currently has a consensus rating of "Moderate Buy" and an average price target of $28.65.

Carnival Stock Performance

Shares of NYSE:CCL traded down $0.34 during midday trading on Tuesday, reaching $28.98. The company had a trading volume of 18,323,386 shares, compared to its average volume of 25,188,116. The company's 50 day moving average price is $24.56 and its 200 day moving average price is $23.06. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58. The stock has a market cap of $33.83 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.65 and a beta of 2.61. Carnival Corporation has a 52-week low of $13.78 and a 52-week high of $30.46.

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

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.