TD Asset Management Inc Sells 186,324 Shares of Carnival Corporation $CCL

Key Points

• TD Asset Management Inc reduced its stake in Carnival Corporation by 24.1%, selling 186,324 shares, which left it with 588,068 shares valued at approximately $16.54 million.
• Carnival Corporation reported earnings of $1.43 per share, exceeding analysts' expectations and marking a revenue increase of 3.3% from the previous year.
• Research firms have upgraded Carnival's stock ratings, with Bank of America raising its price target from $31.00 to $38.00 and maintaining a "buy" rating.

TD Asset Management Inc decreased its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 24.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 588,068 shares of the company's stock after selling 186,324 shares during the period. TD Asset Management Inc owned about 0.05% of Carnival worth $16,536,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CCL. N.E.W. Advisory Services LLC bought a new position in shares of Carnival during the 1st quarter valued at $25,000. Graybill Wealth Management LTD. bought a new position in Carnival in the first quarter valued at about $26,000. Oliver Lagore Vanvalin Investment Group bought a new position in Carnival in the second quarter valued at about $28,000. Banque Transatlantique SA purchased a new position in Carnival in the first quarter worth about $33,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Carnival during the 1st quarter valued at about $35,000. Institutional investors own 67.19% of the company's stock.

Carnival Price Performance

Shares of NYSE:CCL opened at $28.31 on Friday. The company has a market capitalization of $33.05 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.60 and a beta of 2.68. Carnival Corporation has a 1-year low of $15.07 and a 1-year high of $32.80. The firm's 50 day simple moving average is $30.24 and its two-hundred day simple moving average is $26.02. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.34 and a quick ratio of 0.30.

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

Insider Buying and Selling at Carnival

In other news, Director Sir Jonathon Band sold 12,500 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total value of $371,875.00. Following the completion of the transaction, the director owned 64,406 shares of the company's stock, valued at $1,916,078.50. This represents a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 7.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CCL. Bank of America raised their price objective on shares of Carnival from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Mizuho increased their price target on shares of Carnival from $35.00 to $37.00 and gave the stock an "outperform" rating in a research report on Thursday, September 25th. Melius Research boosted their price objective on shares of Carnival from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Loop Capital restated a "hold" rating and issued a $22.00 price objective on shares of Carnival in a research note on Monday, June 23rd. Finally, Zacks Research upgraded Carnival from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.00.

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.

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