Strs Ohio Buys Shares of 52,895 Carnival Corporation $CCL

Key Points

• Strs Ohio has invested approximately $1.03 million in Carnival Corporation, acquiring 52,895 shares of the company's stock.
• Several hedge funds made significant investments in Carnival during the first quarter, with total stakes surpassing $1 billion.
• Carnival recently posted earnings of $0.35 EPS, exceeding estimates, and reported a revenue of $6.33 billion for the quarter, indicating a 9.5% increase year-over-year.

Strs Ohio bought a new position in shares of Carnival Corporation (NYSE:CCL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 52,895 shares of the company's stock, valued at approximately $1,033,000.

Several other large investors have also made changes to their positions in the company. GK Wealth Management LLC raised its stake in Carnival by 18.3% during the first quarter. GK Wealth Management LLC now owns 15,291 shares of the company's stock worth $299,000 after acquiring an additional 2,368 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Carnival by 17.2% during the first quarter. Geneos Wealth Management Inc. now owns 17,338 shares of the company's stock valued at $339,000 after acquiring an additional 2,548 shares during the last quarter. IFM Investors Pty Ltd increased its stake in shares of Carnival by 4.4% in the first quarter. IFM Investors Pty Ltd now owns 180,751 shares of the company's stock valued at $3,530,000 after buying an additional 7,536 shares during the period. Intech Investment Management LLC boosted its holdings in Carnival by 100.2% in the first quarter. Intech Investment Management LLC now owns 237,362 shares of the company's stock valued at $4,636,000 after acquiring an additional 118,795 shares during the last quarter. Finally, Advisory Alpha LLC raised its stake in Carnival by 25.6% during the first quarter. Advisory Alpha LLC now owns 20,613 shares of the company's stock worth $403,000 after buying an additional 4,200 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Zacks Research downgraded shares of Carnival from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Melius Research raised their target price on Carnival from $30.00 to $36.00 and gave the company a "buy" rating in a report on Monday, September 15th. JPMorgan Chase & Co. raised their price target 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. Citigroup lifted their target price on shares of Carnival from $30.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley boosted their price objective on Carnival from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.63.

Carnival Stock Performance

Shares of NYSE:CCL traded up $0.22 during midday trading on Monday, reaching $30.74. 17,058,638 shares of the company traded hands, compared to its average volume of 16,631,050. The firm's fifty day moving average price is $30.43 and its two-hundred day moving average price is $24.94. The firm has a market capitalization of $35.88 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 0.68 and a beta of 2.70. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.58. Carnival Corporation has a 12 month low of $15.07 and a 12 month high of $32.80.

Carnival (NYSE:CCL - Get Free Report) last posted its earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The business had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%.The company's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm 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 analysts expect that Carnival Corporation will post 1.77 earnings per share for the current year.

Insider Buying and Selling at Carnival

In related news, Director Sir Jonathon Band sold 12,500 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total value of $371,875.00. Following the sale, the director owned 64,406 shares in the company, valued at approximately $1,916,078.50. This trade represents a 16.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 7.60% of the company's stock.

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.