Rathbones Group PLC Trims Stock Position in Carnival Corporation (NYSE:CCL)

Rathbones Group PLC lessened its stake in Carnival Corporation (NYSE:CCL) by 1.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 51,064 shares of the company’s stock after selling 931 shares during the period. Rathbones Group PLC’s holdings in Carnival were worth $997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Measured Risk Portfolios Inc. acquired a new stake in shares of Carnival in the 4th quarter valued at about $29,000. Orion Capital Management LLC acquired a new position in Carnival during the fourth quarter worth approximately $30,000. N.E.W. Advisory Services LLC acquired a new position in Carnival during the first quarter worth approximately $25,000. Graybill Wealth Management LTD. purchased a new stake in Carnival in the first quarter valued at approximately $26,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Carnival in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Loop Capital reaffirmed a “hold” rating and issued a $22.00 target price on shares of Carnival in a report on Monday, June 23rd. Susquehanna raised 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. Macquarie dropped their price objective on shares of Carnival from $31.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Mizuho increased their target price on shares of Carnival from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 25th. Finally, Northcoast Research initiated coverage on Carnival in a report on Friday, April 25th. They set a “neutral” rating on the stock. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.71.

Carnival Stock Up 3.3%

Carnival stock opened at $30.63 on Thursday. The stock’s 50 day moving average price is $27.68 and its 200 day moving average price is $23.80. Carnival Corporation has a 1-year low of $14.53 and a 1-year high of $31.01. The company has a market cap of $35.76 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 0.66 and a beta of 2.70. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30.

Carnival (NYSE:CCL) last issued its earnings results on Tuesday, June 24th. The company reported $0.35 EPS 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 company had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the firm earned $0.11 EPS. The business’s revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts predict that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Carnival 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 transaction, the director directly owned 64,406 shares in the company, valued at approximately $1,916,078.50. This represents a 16.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 7.60% of the company’s stock.

Carnival 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.