Nuveen LLC acquired a new position in Carnival Corporation (NYSE:CCL – Free Report) during the first quarter, HoldingsChannel.com reports. The fund acquired 22,156,602 shares of the company’s stock, valued at approximately $432,718,000.
A number of other institutional investors have also made changes to their positions in CCL. N.E.W. Advisory Services LLC bought a new stake in shares of Carnival in the first quarter worth $25,000. Graybill Wealth Management LTD. bought a new stake in shares of Carnival in the first quarter worth $26,000. Measured Risk Portfolios Inc. bought a new stake in shares of Carnival in the fourth quarter worth $29,000. Orion Capital Management LLC bought a new stake in shares of Carnival in the fourth quarter worth $30,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Carnival in the first quarter worth $35,000. Institutional investors own 67.19% of the company’s stock.
Insiders Place Their Bets
In related news, Director Sir Jonathon Band sold 12,500 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total transaction of $371,875.00. Following the completion of the sale, the director owned 64,406 shares of the company’s stock, valued at $1,916,078.50. This represents a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 7.60% of the stock is owned by corporate insiders.
Carnival Trading Down 2.2%
Carnival (NYSE:CCL – Get Free Report) last posted its quarterly earnings data 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 net margin of 9.72% and a return on equity of 27.88%. The business had revenue of $6.33 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter in the prior year, the business posted $0.11 earnings per share. Carnival’s revenue was up 9.5% compared to the same quarter last year. Analysts predict that Carnival Corporation will post 1.77 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently commented on CCL shares. Susquehanna boosted their price objective on shares of Carnival from $27.00 to $30.00 and gave the stock a “positive” rating in a research report on Wednesday, June 25th. TD Cowen assumed coverage on shares of Carnival in a report on Tuesday, July 22nd. They set a “buy” rating and a $36.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Carnival from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. Macquarie lowered their target price on shares of Carnival from $31.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Finally, Morgan Stanley boosted their target price on shares of Carnival from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, June 26th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.71.
View Our Latest Report on Carnival
About Carnival
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.
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