Alberta Investment Management Corp Makes New $2.94 Million Investment in Carnival Corporation (NYSE:CCL)

Key Points

• Alberta Investment Management Corp has made a new investment in Carnival Corporation, acquiring 150,500 shares valued at approximately $2.94 million.
• Institutional investors control 67.19% of Carnival's stock, with several firms significantly increasing their stakes during the 4th quarter.
• Carnival reported earnings of $0.35 per share for the last quarter, exceeding analysts' expectations, and had a year-over-year revenue increase of 9.5%.

Alberta Investment Management Corp acquired a new position in shares of Carnival Corporation (NYSE:CCL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 150,500 shares of the company's stock, valued at approximately $2,939,000.

A number of other institutional investors have also recently bought and sold shares of the business. Nuveen Asset Management LLC boosted its position in Carnival by 33.7% during the 4th quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company's stock worth $569,423,000 after acquiring an additional 5,761,489 shares during the period. Renaissance Technologies LLC raised its stake in shares of Carnival by 17.7% during the 4th quarter. Renaissance Technologies LLC now owns 18,097,001 shares of the company's stock worth $450,977,000 after purchasing an additional 2,720,096 shares in the last quarter. Northern Trust Corp raised its stake in shares of Carnival by 14.8% during the 4th quarter. Northern Trust Corp now owns 10,638,692 shares of the company's stock worth $265,116,000 after purchasing an additional 1,374,714 shares in the last quarter. FMR LLC raised its stake in shares of Carnival by 186.6% during the 4th quarter. FMR LLC now owns 9,898,906 shares of the company's stock worth $246,681,000 after purchasing an additional 6,444,444 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Carnival by 58.1% during the 4th quarter. Two Sigma Advisers LP now owns 7,056,246 shares of the company's stock worth $175,842,000 after purchasing an additional 2,593,046 shares in the last quarter. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Carnival Stock Performance

Shares of NYSE CCL opened at $29.06 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.58. The business's 50 day moving average is $26.72 and its two-hundred day moving average is $23.57. The company has a market cap of $33.92 billion, a P/E ratio of 15.71, a P/E/G ratio of 0.65 and a beta of 2.70. Carnival Corporation has a 12 month low of $13.78 and a 12 month high of $31.01.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly 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. The company had revenue of $6.33 billion for the quarter, compared to the consensus estimate of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The company's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 EPS. On average, equities analysts expect that Carnival Corporation will post 1.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CCL. Loop Capital reaffirmed a "hold" rating and set a $22.00 price target on shares of Carnival in a research note on Monday, June 23rd. Northcoast Research began coverage on Carnival in a research note on Friday, April 25th. They set a "neutral" rating for the company. Susquehanna raised their price target on Carnival from $27.00 to $30.00 and gave the stock a "positive" rating in a research note on Wednesday, June 25th. Morgan Stanley raised their price target on Carnival from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Finally, Citigroup raised their price target on Carnival from $30.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Carnival currently has a consensus rating of "Moderate Buy" and an average target price of $30.71.

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.

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