Carnival Corporation (NYSE:CCL) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lessened its stake in Carnival Corporation (NYSE:CCL) by 9.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,993 shares of the company’s stock after selling 2,664 shares during the period. Sequoia Financial Advisors LLC’s holdings in Carnival were worth $508,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC increased its position in Carnival by 77.4% in the 1st quarter. Golden State Wealth Management LLC now owns 6,699 shares of the company’s stock valued at $131,000 after acquiring an additional 2,922 shares during the period. Wealthquest Corp acquired a new position in Carnival in the 1st quarter valued at about $36,000. Golden State Equity Partners acquired a new position in Carnival in the 1st quarter valued at about $471,000. Global Assets Advisory LLC acquired a new position in Carnival in the 1st quarter valued at about $295,000. Finally, Econ Financial Services Corp acquired a new position in Carnival in the 1st quarter valued at about $976,000. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Stock Performance

CCL opened at $29.64 on Thursday. The stock has a market cap of $34.60 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.63 and a beta of 2.61. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30. The stock’s 50 day simple moving average is $22.89 and its 200 day simple moving average is $22.90. Carnival Corporation has a 1-year low of $13.78 and a 1-year high of $29.72.

Carnival (NYSE:CCL) last released 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 for the quarter, compared to analysts’ expectations of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. As a group, equities analysts anticipate that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Analyst Ratings Changes

CCL has been the topic of several recent research reports. Wall Street Zen upgraded Carnival from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Northcoast Research started coverage on Carnival in a research report on Friday, April 25th. They set a “neutral” rating on the stock. Morgan Stanley boosted 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, June 26th. Bank of America boosted their target price on Carnival from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Finally, Truist Financial set a $27.00 target price on Carnival in a research report on Monday, June 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Carnival currently has a consensus rating of “Moderate Buy” and an average price target of $28.65.

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.