Wealthfront Advisers LLC Trims Holdings in Carnival Corporation $CCL

Key Points

• Wealthfront Advisers LLC trimmed its stake in Carnival by 29.8% in Q4, selling 56,635 shares and leaving 133,615 shares worth about $4.08 million, according to its 13F filing.
• Carnival beat quarterly estimates—reporting $0.20 EPS versus $0.18 expected and $6.17 billion in revenue versus $6.13 billion—and analysts forecast about 2.23 EPS for the current year.
• Analyst sentiment remains positive: 21 Buys, 4 Holds and 1 Sell, with a consensus "Moderate Buy" rating and an average price target of $33.99, while Bank of America raised its target to $45.00.

Wealthfront Advisers LLC reduced its holdings in shares of Carnival Corporation (NYSE:CCL - Free Report) by 29.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,615 shares of the company's stock after selling 56,635 shares during the quarter. Wealthfront Advisers LLC's holdings in Carnival were worth $4,081,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CCL. Measured Wealth Private Client Group LLC purchased a new position in shares of Carnival during the 3rd quarter valued at approximately $25,000. BOCHK Asset Management Ltd purchased a new position in shares of Carnival during the 4th quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Carnival by 381.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the company's stock valued at $29,000 after buying an additional 762 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Carnival by 182.0% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,021 shares of the company's stock valued at $30,000 after buying an additional 659 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Carnival during the 3rd quarter valued at approximately $30,000. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Carnival Stock Performance

Shares of CCL opened at $26.51 on Friday. The business's fifty day moving average price is $27.02 and its 200 day moving average price is $28.33. Carnival Corporation has a 12-month low of $18.51 and a 12-month high of $34.03. The stock has a market capitalization of $32.84 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.12 and a beta of 2.48. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.30 and a quick ratio of 0.26.

Carnival (NYSE:CCL - Get Free Report) last posted its earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The company had revenue of $6.17 billion for the quarter, compared to analysts' expectations of $6.13 billion. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. Equities research analysts forecast that Carnival Corporation will post 2.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CCL shares. Bank of America increased their target price on Carnival from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, January 12th. Truist Financial reduced their price objective on Carnival from $34.00 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, March 24th. Barclays reduced their price objective on Carnival from $37.00 to $36.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 24th. Zacks Research cut Carnival from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 16th. Finally, Citigroup reduced their price objective on Carnival from $39.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, March 30th. Twenty-one analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Carnival has an average rating of "Moderate Buy" and a consensus price target of $33.99.

Insider Transactions at Carnival

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total value of $313,965.72. Following the sale, the director directly owned 52,601 shares in the company, valued at approximately $1,377,620.19. This trade represents a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 7.90% of the company's stock.

Carnival Profile

Carnival Corporation NYSE: CCL is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company's core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.

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