Oppenheimer & Co. Inc. Sells 5,810 Shares of Carnival Corporation (NYSE:CCL)

Oppenheimer & Co. Inc. lowered its position in Carnival Corporation (NYSE:CCL) by 32.3% in the first quarter, Holdings Channel.com reports. The fund owned 12,159 shares of the company’s stock after selling 5,810 shares during the period. Oppenheimer & Co. Inc.’s holdings in Carnival were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CCL. Proficio Capital Partners LLC bought a new position in shares of Carnival during the 4th quarter worth approximately $3,000,000. US Bancorp DE lifted its position in shares of Carnival by 2.8% during the 4th quarter. US Bancorp DE now owns 34,170 shares of the company’s stock worth $852,000 after buying an additional 946 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Carnival by 193.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 10,129 shares of the company’s stock worth $254,000 after buying an additional 6,674 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Carnival by 32.0% during the 4th quarter. Jones Financial Companies Lllp now owns 104,581 shares of the company’s stock worth $2,606,000 after buying an additional 25,328 shares during the period. Finally, State of Michigan Retirement System lifted its position in shares of Carnival by 2.5% during the 4th quarter. State of Michigan Retirement System now owns 281,944 shares of the company’s stock worth $7,026,000 after buying an additional 6,800 shares during the period. Institutional investors own 67.19% of the company’s stock.

Carnival Stock Up 1.0%

NYSE CCL opened at $29.96 on Friday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34. Carnival Corporation has a 52 week low of $13.78 and a 52 week high of $30.24. The stock has a fifty day moving average of $23.12 and a 200-day moving average of $22.93. The stock has a market capitalization of $34.98 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 0.65 and a beta of 2.61.

Carnival (NYSE:CCL) last announced its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The business had revenue of $6.33 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same period in the previous year, the firm earned $0.11 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts forecast that Carnival Corporation will post 1.77 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on CCL shares. Stifel Nicolaus raised their target price on Carnival from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Barclays raised their price target on Carnival from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, June 25th. Macquarie dropped their price target on Carnival from $31.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Tigress Financial reaffirmed a “buy” rating on shares of Carnival in a report on Wednesday, March 26th. Finally, Morgan Stanley raised their price target on Carnival from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, June 26th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average 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.