Carnival Corporation (NYSE:CCL) Shares Purchased by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC boosted its position in shares of Carnival Corporation (NYSE:CCL) by 0.8% in the first quarter, HoldingsChannel.com reports. The fund owned 549,513 shares of the company’s stock after acquiring an additional 4,424 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Carnival were worth $10,732,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCL. Concurrent Investment Advisors LLC purchased a new position in shares of Carnival during the 4th quarter valued at about $205,000. Wealthspire Advisors LLC purchased a new stake in Carnival during the 4th quarter worth approximately $277,000. IFP Advisors Inc increased its stake in Carnival by 26.3% during the 4th quarter. IFP Advisors Inc now owns 7,599 shares of the company’s stock worth $189,000 after buying an additional 1,580 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Carnival by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 5,841,543 shares of the company’s stock worth $145,571,000 after buying an additional 19,768 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Carnival by 3.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 89,023 shares of the company’s stock worth $2,218,000 after buying an additional 2,620 shares in the last quarter. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Stock Up 2.9%

CCL stock opened at $26.23 on Friday. Carnival Corporation has a 52-week low of $13.78 and a 52-week high of $28.72. The company’s 50 day simple moving average is $22.05 and its 200-day simple moving average is $22.83. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.21. The firm has a market capitalization of $30.60 billion, a P/E ratio of 14.18, a P/E/G ratio of 0.57 and a beta of 2.58.

Carnival (NYSE:CCL) last issued its earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the business posted $0.11 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that Carnival Corporation will post 1.77 EPS for the current year.

Wall Street Analyst Weigh In

CCL has been the topic of several recent research reports. Wall Street Zen upgraded Carnival from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Northcoast Research initiated coverage on Carnival in a report on Friday, April 25th. They set a “neutral” rating on the stock. Morgan Stanley boosted their target price on Carnival from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday. Bank of America boosted their target price on Carnival from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus upped their price objective on Carnival from $33.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $28.33.

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.