Wealth Enhancement Advisory Services LLC Raises Stock Position in Carnival Corporation $CCL

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in Carnival Corporation by 5.9% during the second quarter, owning 160,191 shares valued at approximately $4.8 million.
• Carnival's recent quarterly earnings beat consensus estimates with an EPS of $0.35 and revenue of $6.33 billion, demonstrating a year-over-year revenue increase of 9.5%.
• Analysts have varied ratings on Carnival stock, with target price increases from firms like Stifel Nicolaus and JPMorgan, suggesting a consensus target price of $31.84 for the stock.

Wealth Enhancement Advisory Services LLC lifted its position in Carnival Corporation (NYSE:CCL - Free Report) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 160,191 shares of the company's stock after buying an additional 8,975 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Carnival were worth $4,799,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CCL. Wedmont Private Capital boosted its stake in Carnival by 8.1% in the 2nd quarter. Wedmont Private Capital now owns 18,915 shares of the company's stock worth $545,000 after purchasing an additional 1,425 shares in the last quarter. Swedbank AB boosted its stake in Carnival by 40.8% in the 2nd quarter. Swedbank AB now owns 490,366 shares of the company's stock worth $13,789,000 after purchasing an additional 142,123 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Carnival by 2.3% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 127,383 shares of the company's stock worth $3,582,000 after purchasing an additional 2,853 shares in the last quarter. Focus Financial Network Inc. acquired a new stake in Carnival in the 2nd quarter worth approximately $239,000. Finally, Sovran Advisors LLC acquired a new stake in Carnival in the 2nd quarter worth approximately $234,000. Hedge funds and other institutional investors own 67.19% of the company's stock.

Carnival Stock Down 0.9%

CCL stock opened at $30.44 on Thursday. The firm's fifty day simple moving average is $30.49 and its 200-day simple moving average is $25.01. The company has a market capitalization of $35.53 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 0.68 and a beta of 2.70. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30. Carnival Corporation has a 12 month low of $15.07 and a 12 month high of $32.80.

Carnival (NYSE:CCL - Get Free Report) last released its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, beating 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 business had revenue of $6.33 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same period in the prior year, the firm earned $0.11 EPS. The business's revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts forecast that Carnival Corporation will post 1.77 earnings per share for the current year.

Insider Activity

In related news, Director Sir Jonathon Band sold 12,500 shares of the business's stock in a transaction 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 completion of the transaction, the director directly owned 64,406 shares in the company, valued at $1,916,078.50. The trade was a 16.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Carnival from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Tuesday. Zacks Research cut shares of Carnival from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Loop Capital reiterated a "hold" rating and issued a $22.00 target price on shares of Carnival in a research note on Monday, June 23rd. JPMorgan Chase & Co. lifted their target price on shares of Carnival from $34.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. Finally, Barclays lifted their target price on shares of Carnival from $33.00 to $37.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 17th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.84.

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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