Invesco Ltd. raised its position in Carnival Corporation (NYSE:CCL - Free Report) by 24.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,965,228 shares of the company's stock after acquiring an additional 2,566,148 shares during the period. Invesco Ltd. owned approximately 1.11% of Carnival worth $253,211,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Beck Bode LLC acquired a new stake in shares of Carnival in the 4th quarter worth $5,715,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Carnival in the 4th quarter worth $5,113,000. The Manufacturers Life Insurance Company lifted its stake in shares of Carnival by 2.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 627,132 shares of the company's stock worth $15,628,000 after acquiring an additional 16,529 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Carnival by 31.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,160 shares of the company's stock worth $2,427,000 after acquiring an additional 28,890 shares during the period. Finally, IFM Investors Pty Ltd lifted its stake in shares of Carnival by 6.2% in the 1st quarter. IFM Investors Pty Ltd now owns 183,954 shares of the company's stock worth $3,399,000 after acquiring an additional 10,739 shares during the period. Institutional investors and hedge funds own 67.19% of the company's stock.
Carnival Trading Down 1.7%
Shares of NYSE CCL traded down $0.51 during midday trading on Friday, reaching $29.74. 10,992,674 shares of the stock were exchanged, compared to its average volume of 17,604,698. The company has a market capitalization of $34.72 billion, a P/E ratio of 16.08, a P/E/G ratio of 0.67 and a beta of 2.70. Carnival Corporation has a 52-week low of $15.07 and a 52-week high of $31.01. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58. The stock has a 50 day moving average price of $27.91 and a 200-day moving average price of $23.81.
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 analysts' consensus estimates of $0.24 by $0.11. The business had revenue of $6.33 billion during the quarter, compared to the consensus estimate of $6.20 billion. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The company's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. Equities research analysts expect that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Sir Jonathon Band sold 12,500 shares of the firm's 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 of the company's stock, valued at approximately $1,916,078.50. This trade represents a 16.25% 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. Corporate insiders own 7.60% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on CCL. HSBC upgraded shares of Carnival from a "reduce" rating to a "hold" rating and set a $24.00 price target for the company in a report on Friday, May 16th. Stifel Nicolaus increased their price target on shares of Carnival from $33.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. TD Cowen began coverage on shares of Carnival in a report on Tuesday, July 22nd. They issued a "buy" rating and a $36.00 price target for the company. Bank of America increased their price target on shares of Carnival from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Northcoast Research began coverage on shares of Carnival in a report on Friday, April 25th. They issued a "neutral" rating for the company. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $30.71.
View Our Latest Research Report on CCL
About Carnival
(
Free Report)
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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