Apollon Wealth Management LLC Has $465,000 Position in Carnival Corporation (NYSE:CCL)

Apollon Wealth Management LLC boosted its stake in shares of Carnival Corporation (NYSE:CCL) by 29.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,800 shares of the company’s stock after acquiring an additional 5,407 shares during the quarter. Apollon Wealth Management LLC’s holdings in Carnival were worth $465,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Carnival in the fourth quarter worth about $59,486,000. Beck Bode LLC acquired a new stake in Carnival in the fourth quarter worth about $5,715,000. Itau Unibanco Holding S.A. acquired a new stake in Carnival in the fourth quarter worth about $5,113,000. Korea Investment CORP increased its position in Carnival by 36.7% in the fourth quarter. Korea Investment CORP now owns 1,090,909 shares of the company’s stock worth $27,185,000 after purchasing an additional 293,154 shares during the period. Finally, Allstate Corp acquired a new stake in Carnival in the fourth quarter worth about $767,000. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Carnival Stock Up 0.4%

Shares of Carnival stock opened at $29.56 on Friday. Carnival Corporation has a one year low of $13.78 and a one year high of $30.46. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30. The stock’s 50-day moving average is $25.30 and its 200 day moving average is $23.19. The firm has a market cap of $34.51 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.65 and a beta of 2.61.

Carnival (NYSE:CCL) last announced its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.11. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The business had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the prior year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Equities research analysts anticipate that Carnival Corporation will post 1.77 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Macquarie reduced their target price on Carnival from $31.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Barclays lifted their price objective on Carnival from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, June 25th. Loop Capital reiterated a “hold” rating and set a $22.00 price objective on shares of Carnival in a report on Monday, June 23rd. BNP Paribas initiated coverage on Carnival in a report on Thursday, March 27th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, Citigroup lifted their price objective on Carnival from $30.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Carnival has an average rating of “Moderate Buy” and a consensus target price of $29.06.

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.