Bank of New York Mellon Corp Sells 506,553 Shares of Carnival Corporation $CCL

Bank of New York Mellon Corp lowered its position in shares of Carnival Corporation (NYSE:CCL) by 8.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,481,342 shares of the company’s stock after selling 506,553 shares during the quarter. Bank of New York Mellon Corp’s holdings in Carnival were worth $154,135,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Carnival during the first quarter worth $25,000. Graybill Wealth Management LTD. bought a new stake in Carnival during the first quarter worth about $26,000. Oliver Lagore Vanvalin Investment Group bought a new stake in Carnival during the second quarter worth about $28,000. Banque Transatlantique SA bought a new stake in Carnival in the first quarter valued at approximately $33,000. Finally, Zions Bancorporation National Association UT bought a new stake in Carnival in the first quarter valued at approximately $35,000. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival Stock Up 3.0%

CCL opened at $26.90 on Thursday. The company has a fifty day moving average price of $29.80 and a 200-day moving average price of $27.11. The firm has a market capitalization of $31.41 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 0.57 and a beta of 2.68. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.34 and a quick ratio of 0.30. Carnival Corporation has a one year low of $15.07 and a one year high of $32.80.

Carnival (NYSE:CCL) last announced its earnings results on Monday, September 29th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.11. Carnival had a net margin of 10.07% and a return on equity of 27.86%. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same period in the previous year, the business earned $1.27 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Carnival has set its Q4 2025 guidance at 0.230-0.230 EPS. FY 2025 guidance at 2.140-2.140 EPS. Equities research analysts expect that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CCL shares. Citigroup increased their price target on Carnival from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Truist Financial raised their target price on Carnival from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Monday, July 21st. Susquehanna lifted their price objective on Carnival from $30.00 to $35.00 and gave the stock a “positive” rating in a research report on Tuesday, September 30th. Wall Street Zen lowered Carnival from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, TD Cowen assumed coverage on Carnival in a research note on Tuesday, July 22nd. They issued a “buy” rating and a $36.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

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.