Envestnet Asset Management Inc. Purchases 340,576 Shares of Carnival Corporation (NYSE:CCL)

Envestnet Asset Management Inc. increased its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 195.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 514,565 shares of the company's stock after purchasing an additional 340,576 shares during the period. Envestnet Asset Management Inc.'s holdings in Carnival were worth $10,049,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Measured Risk Portfolios Inc. purchased a new position in shares of Carnival during the fourth quarter valued at approximately $29,000. Orion Capital Management LLC purchased a new position in shares of Carnival during the fourth quarter valued at approximately $30,000. Millstone Evans Group LLC purchased a new position in shares of Carnival during the fourth quarter valued at approximately $34,000. Dunhill Financial LLC raised its holdings in shares of Carnival by 1,125.0% during the first quarter. Dunhill Financial LLC now owns 1,862 shares of the company's stock valued at $36,000 after purchasing an additional 1,710 shares during the last quarter. Finally, Wealthquest Corp purchased a new position in shares of Carnival during the first quarter valued at approximately $36,000. 67.19% of the stock is owned by hedge funds and other institutional investors.

Carnival Price Performance

Shares of NYSE:CCL opened at $29.56 on Monday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34. The firm has a fifty day moving average price of $25.30 and a 200 day moving average price of $23.18. Carnival Corporation has a fifty-two week low of $13.78 and a fifty-two week high of $30.46. The firm has a market cap of $34.51 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 0.65 and a beta of 2.61.

Carnival (NYSE:CCL - Get Free Report) last issued its earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $6.20 billion. During the same quarter in the prior year, the business earned $0.11 earnings per share. Carnival's revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts expect that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Hsbc Global Res raised shares of Carnival from a "moderate sell" rating to a "hold" rating in a report on Friday, May 16th. Morgan Stanley upped their target price on shares of Carnival from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Bank of America upped their target price on shares of Carnival from $30.00 to $31.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Susquehanna upped their target price on shares of Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a report on Wednesday, June 25th. Finally, Tigress Financial reaffirmed a "buy" rating on shares of Carnival in a report on Wednesday, March 26th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.06.

About Carnival

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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