Carnival Corporation $CCL Position Cut by Wealthfront Advisers LLC

Wealthfront Advisers LLC trimmed its stake in Carnival Corporation (NYSE:CCL) by 29.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 133,615 shares of the company’s stock after selling 56,635 shares during the quarter. Wealthfront Advisers LLC’s holdings in Carnival were worth $4,081,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Certuity LLC increased its holdings in shares of Carnival by 68.6% during the fourth quarter. Certuity LLC now owns 17,412 shares of the company’s stock valued at $532,000 after purchasing an additional 7,087 shares during the period. Torren Management LLC acquired a new position in shares of Carnival during the fourth quarter valued at $46,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Carnival by 0.6% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 436,346 shares of the company’s stock valued at $13,326,000 after purchasing an additional 2,522 shares during the period. D.A. Davidson & CO. increased its holdings in shares of Carnival by 8.7% during the fourth quarter. D.A. Davidson & CO. now owns 26,304 shares of the company’s stock valued at $803,000 after purchasing an additional 2,100 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Carnival by 4.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 464,850 shares of the company’s stock valued at $14,197,000 after purchasing an additional 20,048 shares during the period. 67.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCL has been the topic of a number of research analyst reports. Sanford C. Bernstein lowered their price target on Carnival from $33.00 to $28.70 and set a “market perform” rating on the stock in a report on Monday, March 30th. Stifel Nicolaus lowered their price target on Carnival from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Zacks Research lowered Carnival from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. UBS Group lowered their price target on Carnival from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Finally, Wells Fargo & Company lowered their price target on Carnival from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Twenty-one research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.99.

Insider Transactions at Carnival

In related news, Director Sir Jonathon Band sold 11,988 shares of Carnival stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total transaction of $313,965.72. Following the transaction, the director directly owned 52,601 shares of the company’s stock, valued at $1,377,620.19. The trade was a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.90% of the stock is currently owned by insiders.

Carnival Price Performance

NYSE:CCL opened at $26.51 on Friday. The business’s 50-day moving average price is $27.02 and its 200 day moving average price is $28.33. The firm has a market cap of $32.84 billion, a P/E ratio of 11.78, a PEG ratio of 1.12 and a beta of 2.48. Carnival Corporation has a 52-week low of $18.51 and a 52-week high of $34.03. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 1.82.

Carnival (NYSE:CCL) last released its earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. Carnival had a return on equity of 26.92% and a net margin of 11.48%.Carnival’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. As a group, sell-side analysts predict that Carnival Corporation will post 2.23 earnings per share for the current fiscal year.

Carnival Company Profile

Carnival Corporation (NYSE: CCL) is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company’s core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.