Thomas J. Herzfeld Advisors Inc. Sells 50,000 Shares of Carnival Corporation $CCL

Key Points

• Thomas J. Herzfeld Advisors Inc. has reduced its holdings in Carnival Corporation by 48.7%, now owning 52,657 shares valued at approximately $1,028,000.
• Carnival announced a quarterly EPS of $0.35, exceeding estimates, with a revenue of $6.33 billion, up 9.5% year-over-year.
• Institutional investors own 67.19% of Carnival stock, with several firms increasing their stakes, including Northwestern Mutual Wealth Management Co., which raised its holdings by 199.1%.

Thomas J. Herzfeld Advisors Inc. reduced its holdings in Carnival Corporation (NYSE:CCL - Free Report) by 48.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,657 shares of the company's stock after selling 50,000 shares during the quarter. Thomas J. Herzfeld Advisors Inc.'s holdings in Carnival were worth $1,028,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Beck Bode LLC acquired a new stake in shares of Carnival in the fourth quarter valued at about $5,715,000. Itau Unibanco Holding S.A. bought a new stake in shares of Carnival in the fourth quarter valued at about $5,113,000. The Manufacturers Life Insurance Company lifted its stake in shares of Carnival by 2.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 627,132 shares of the company's stock valued at $15,628,000 after buying an additional 16,529 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Carnival by 31.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,160 shares of the company's stock valued at $2,427,000 after buying an additional 28,890 shares during the period. Finally, IFM Investors Pty Ltd lifted its stake in shares of Carnival by 6.2% in the first quarter. IFM Investors Pty Ltd now owns 183,954 shares of the company's stock valued at $3,399,000 after buying an additional 10,739 shares during the period. 67.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Carnival

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup increased their target price on shares of Carnival from $30.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Truist Financial lifted their price objective on Carnival from $27.00 to $31.00 and gave the stock a "hold" rating in a report on Monday, July 21st. Morgan Stanley lifted their price objective on Carnival from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Tigress Financial raised their price target on shares of Carnival from $32.00 to $38.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Zacks Research cut shares of Carnival from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Thirteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.71.

Carnival Price Performance

Shares of NYSE CCL traded up $0.15 during mid-day trading on Thursday, hitting $32.49. 13,445,632 shares of the stock were exchanged, compared to its average volume of 16,843,804. The company has a market cap of $37.93 billion, a P/E ratio of 17.56, a PEG ratio of 0.72 and a beta of 2.70. The stock's fifty day simple moving average is $29.03 and its two-hundred day simple moving average is $24.02. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34. Carnival Corporation has a twelve month low of $15.07 and a twelve month high of $32.77.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings data 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. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The company had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the business posted $0.11 earnings per share. The company's revenue was up 9.5% on a year-over-year basis. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. As a group, analysts forecast that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Carnival Company 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.