U S Global Investors Inc. Purchases 16,500 Shares of Carnival Corporation (NYSE:CCL)

U S Global Investors Inc. lifted its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 28.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,500 shares of the company's stock after purchasing an additional 16,500 shares during the period. U S Global Investors Inc.'s holdings in Carnival were worth $1,435,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Carnival in the fourth quarter worth $59,486,000. Charles Schwab Investment Management Inc. lifted its position in shares of Carnival by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,249,810 shares of the company's stock valued at $155,745,000 after buying an additional 223,195 shares during the last quarter. Beck Bode LLC bought a new position in shares of Carnival during the 4th quarter worth $5,715,000. Bank of New York Mellon Corp increased its holdings in Carnival by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 5,841,543 shares of the company's stock worth $145,571,000 after acquiring an additional 19,768 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in Carnival in the 4th quarter valued at about $5,113,000. Hedge funds and other institutional investors own 67.19% of the company's stock.

Carnival Price Performance

NYSE CCL traded up $1.14 during trading on Friday, reaching $27.31. The company's stock had a trading volume of 46,820,661 shares, compared to its average volume of 25,215,410. The firm has a fifty day moving average of $22.24 and a 200 day moving average of $22.84. Carnival Corporation has a one year low of $13.78 and a one year high of $28.72. The stock has a market capitalization of $31.86 billion, a PE ratio of 14.76, a P/E/G ratio of 0.57 and a beta of 2.58. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.21.

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 for the quarter, compared to analysts' expectations of $6.20 billion. During the same period in the prior year, the business earned $0.11 earnings per share. Carnival's revenue for the quarter was up 9.5% compared to the same quarter last year. Analysts expect that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on CCL. Macquarie cut their target price on shares of Carnival from $31.00 to $26.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. BNP Paribas initiated coverage on shares of Carnival in a research note on Thursday, March 27th. They set an "outperform" rating and a $26.00 price target on the stock. Truist Financial set a $27.00 price objective on shares of Carnival in a report on Monday, June 23rd. Stifel Nicolaus boosted their target price on shares of Carnival from $33.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Morgan Stanley increased their target price on Carnival from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Carnival currently has a consensus rating of "Moderate Buy" and an average price target of $28.53.

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.