Vanguard Group Inc. Has $2.33 Billion Stake in Carnival Corporation (NYSE:CCL)

Key Points

• Vanguard Group Inc. has increased its stake in Carnival Corporation to a total of 119,505,754 shares, representing a value of approximately $2.33 billion.
• Institutional investors now hold 67.19% of Carnival's stock, with several funds significantly increasing their positions in the last quarter.
• Carnival Corporation reported earnings of $0.35 per share for the recent quarter, exceeding analysts' expectations, with revenue of $6.33 billion, up 9.5% year-over-year.

Vanguard Group Inc. grew its stake in Carnival Corporation (NYSE:CCL - Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,505,754 shares of the company's stock after purchasing an additional 2,410,188 shares during the period. Vanguard Group Inc. owned about 10.24% of Carnival worth $2,333,947,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CCL. Franklin Resources Inc. grew its position in Carnival by 273.2% in the 4th quarter. Franklin Resources Inc. now owns 220,115 shares of the company's stock worth $5,485,000 after purchasing an additional 161,130 shares during the last quarter. Federated Hermes Inc. grew its position in Carnival by 311.7% in the 4th quarter. Federated Hermes Inc. now owns 26,839 shares of the company's stock worth $669,000 after purchasing an additional 20,320 shares during the last quarter. FMR LLC grew its position in Carnival by 186.6% in the 4th quarter. FMR LLC now owns 9,898,906 shares of the company's stock worth $246,681,000 after purchasing an additional 6,444,444 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Carnival by 61.8% during the 4th quarter. Cerity Partners LLC now owns 200,292 shares of the company's stock valued at $4,712,000 after acquiring an additional 76,477 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in Carnival by 52.3% in the fourth quarter. Advisory Services Network LLC now owns 28,090 shares of the company's stock valued at $700,000 after acquiring an additional 9,641 shares during the period. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Carnival Trading Down 2.2%

Shares of NYSE CCL opened at $28.37 on Friday. 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 company has a market cap of $33.12 billion, a PE ratio of 15.34, a P/E/G ratio of 0.65 and a beta of 2.70. The company has a 50-day moving average of $27.33 and a two-hundred day moving average of $23.71. Carnival Corporation has a 1-year low of $14.49 and a 1-year high of $31.01.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The business 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%. Carnival's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. As a group, equities analysts expect that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CCL has been the topic of a number of analyst reports. Mizuho upped their target price on shares of Carnival from $33.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Macquarie lowered their target price on shares of Carnival from $31.00 to $26.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Citigroup upped 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. Loop Capital reissued a "hold" rating and issued a $22.00 target price on shares of Carnival in a research note on Monday, June 23rd. Finally, Stifel Nicolaus upped their target price on shares of Carnival from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Carnival presently has a consensus rating of "Moderate Buy" and an average price target of $30.71.

Insider Buying and Selling at Carnival

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

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.

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