Teacher Retirement System of Texas Trims Stock Position in Carnival Corporation (NYSE:CCL)

Teacher Retirement System of Texas trimmed its position in Carnival Corporation (NYSE:CCL - Free Report) by 23.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,859 shares of the company's stock after selling 47,190 shares during the quarter. Teacher Retirement System of Texas' holdings in Carnival were worth $2,966,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CCL. Measured Risk Portfolios Inc. bought a new position in Carnival during the fourth quarter valued at approximately $29,000. Orion Capital Management LLC bought a new position in Carnival during the fourth quarter valued at approximately $30,000. Millstone Evans Group LLC bought a new position in Carnival during the fourth quarter valued at approximately $34,000. 1620 Investment Advisors Inc. bought a new position in shares of Carnival in the fourth quarter valued at approximately $42,000. Finally, Wealthquest Corp bought a new position in shares of Carnival in the first quarter valued at approximately $36,000. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CCL. Loop Capital reissued a "hold" rating and issued a $22.00 price target on shares of Carnival in a research report on Monday, June 23rd. Bank of America boosted their target price on shares of Carnival from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Tigress Financial reaffirmed a "buy" rating on shares of Carnival in a research report on Wednesday, March 26th. Hsbc Global Res raised shares of Carnival from a "moderate sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Morgan Stanley boosted their target price on shares of Carnival from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Carnival presently has a consensus rating of "Moderate Buy" and an average price target of $28.65.

Carnival Stock Down 1.5%

Shares of CCL traded down $0.43 during trading hours on Friday, reaching $28.67. 14,572,616 shares of the stock traded hands, compared to its average volume of 25,252,227. 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 fifty day simple moving average of $24.36 and a 200 day simple moving average of $23.07. Carnival Corporation has a 52 week low of $13.78 and a 52 week high of $30.46. The company has a market cap of $33.47 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.63 and a beta of 2.61.

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, topping the consensus estimate of $0.24 by $0.11. The firm had revenue of $6.33 billion during 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% on a year-over-year basis. During the same quarter last year, the company earned $0.11 earnings per share. On average, equities analysts forecast that Carnival Corporation will post 1.77 EPS for the current year.

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.