IFM Investors Pty Ltd Buys 21,719 Shares of Carnival Corporation $CCL

Key Points

• IFM Investors Pty Ltd increased its position in Carnival Corporation by 12.0%, acquiring an additional 21,719 shares, bringing its total holdings to 202,470 shares worth approximately $5.69 million.
• Carnival recently reported earnings of $0.35 per share for the quarter, exceeding analyst expectations of $0.24 per share, with revenue reaching $6.33 billion, a 9.5% increase year-over-year.
• Analysts have raised their price targets for Carnival, with JPMorgan increasing it to $39.00 and Bank of America to $38.00, reflecting an overall consensus rating of "Moderate Buy" for the stock.

IFM Investors Pty Ltd raised its stake in Carnival Corporation (NYSE:CCL - Free Report) by 12.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,470 shares of the company's stock after buying an additional 21,719 shares during the period. IFM Investors Pty Ltd's holdings in Carnival were worth $5,693,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CCL. N.E.W. Advisory Services LLC acquired a new position in shares of Carnival during the first quarter valued at about $25,000. Graybill Wealth Management LTD. purchased a new stake in shares of Carnival during the 1st quarter valued at $26,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Carnival in the second quarter valued at about $28,000. Banque Transatlantique SA purchased a new position in shares of Carnival in the first quarter valued at about $33,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Carnival during the 1st quarter valued at about $35,000. Institutional investors own 67.19% of the company's stock.

Carnival Stock Up 0.4%

CCL stock traded up $0.13 during trading hours on Tuesday, hitting $30.84. The company's stock had a trading volume of 14,507,027 shares, compared to its average volume of 22,908,760. The stock has a 50 day moving average price of $30.43 and a two-hundred day moving average price of $24.94. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.58. Carnival Corporation has a 12 month low of $15.07 and a 12 month high of $32.80. The company has a market capitalization of $36.00 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 0.68 and a beta of 2.70.

Carnival (NYSE:CCL - Get Free Report) last released its earnings results on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, beating 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 firm had revenue of $6.33 billion during the quarter, compared to analysts' expectations of $6.20 billion. During the same period in the prior year, the company earned $0.11 EPS. The business's quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts expect that Carnival Corporation will post 1.77 earnings per share for the current year.

Insider Transactions at Carnival

In related news, Director Sir Jonathon Band sold 12,500 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total value of $371,875.00. Following the sale, the director directly owned 64,406 shares in the company, valued at $1,916,078.50. This trade represents a 16.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 7.60% of the company's stock.

Analyst Upgrades and Downgrades

CCL has been the subject of a number of research reports. Bank of America upped their target price on shares of Carnival from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Loop Capital restated a "hold" rating and set a $22.00 price objective on shares of Carnival in a research note on Monday, June 23rd. Tigress Financial upped their price target on shares of Carnival from $32.00 to $38.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Zacks Research cut shares of Carnival from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Stifel Nicolaus upped their price objective on shares of Carnival from $34.00 to $38.00 and gave the company a "buy" rating in a research note on Tuesday. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $31.84.

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.