Carnival Corporation (NYSE:CCL) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Carnival Corporation (NYSE:CCL) by 0.3% during the first quarter, HoldingsChannel reports. The fund owned 6,267,095 shares of the company’s stock after buying an additional 17,285 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Carnival were worth $122,397,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Beck Bode LLC acquired a new position in Carnival during the fourth quarter worth $5,715,000. Itau Unibanco Holding S.A. acquired a new stake in Carnival in the fourth quarter valued at $5,113,000. The Manufacturers Life Insurance Company grew its holdings in Carnival by 2.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 627,132 shares of the company’s stock valued at $15,628,000 after purchasing an additional 16,529 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Carnival by 31.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,160 shares of the company’s stock valued at $2,427,000 after purchasing an additional 28,890 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its holdings in Carnival by 6.2% in the first quarter. IFM Investors Pty Ltd now owns 183,954 shares of the company’s stock valued at $3,399,000 after purchasing an additional 10,739 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Stock Performance

NYSE CCL opened at $28.60 on Tuesday. The business’s 50-day moving average price is $27.43 and its 200 day moving average price is $23.71. Carnival Corporation has a twelve month low of $14.49 and a twelve month high of $31.01. The company has a market capitalization of $33.39 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 0.63 and a beta of 2.70. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58.

Carnival (NYSE:CCL) last released its earnings results 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 return on equity of 27.88% and a net margin of 9.72%. The firm 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 business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, research analysts predict that Carnival Corporation will post 1.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Sir Jonathon Band sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total value of $371,875.00. Following the transaction, the director directly owned 64,406 shares in the company, valued at $1,916,078.50. This trade represents a 16.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCL. HSBC raised Carnival from a “reduce” rating to a “hold” rating and set a $24.00 target price on the stock in a report on Friday, May 16th. Macquarie lowered their target price on Carnival from $31.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Truist Financial upped their target price on Carnival from $27.00 to $31.00 and gave the company a “hold” rating in a report on Monday, July 21st. Barclays upped their target price on Carnival from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, June 25th. Finally, Bank of America upped their target price on Carnival from $31.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.71.

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.