Global Assets Advisory LLC Makes New $295,000 Investment in Carnival Corporation (NYSE:CCL)

Global Assets Advisory LLC bought a new position in Carnival Corporation (NYSE:CCL - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 15,900 shares of the company's stock, valued at approximately $295,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CCL. Vanguard Group Inc. lifted its stake in Carnival by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 117,095,566 shares of the company's stock worth $2,918,022,000 after acquiring an additional 4,458,329 shares during the period. Geode Capital Management LLC lifted its position in shares of Carnival by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 25,228,416 shares of the company's stock worth $627,053,000 after purchasing an additional 1,201,256 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Carnival by 33.7% in the 4th quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company's stock worth $569,423,000 after purchasing an additional 5,761,489 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Carnival by 4.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 18,649,543 shares of the company's stock valued at $464,747,000 after purchasing an additional 877,694 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Carnival by 17.7% during the fourth quarter. Renaissance Technologies LLC now owns 18,097,001 shares of the company's stock valued at $450,977,000 after buying an additional 2,720,096 shares during the period. Institutional investors own 67.19% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on CCL shares. HSBC raised Carnival from a "reduce" rating to a "hold" rating and set a $24.00 target price on the stock in a research report on Friday, May 16th. BNP Paribas started coverage on shares of Carnival in a report on Thursday, March 27th. They issued an "outperform" rating and a $26.00 target price for the company. Citigroup restated a "hold" rating on shares of Carnival in a report on Monday. Bank of America increased their target price on shares of Carnival from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Mizuho raised their target price on shares of Carnival from $33.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday. Eight investment 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.33.

Carnival Stock Performance

CCL traded up $1.14 during trading on Friday, reaching $27.31. 46,820,661 shares of the company's stock were exchanged, compared to its average volume of 25,215,404. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.21. Carnival Corporation has a 1 year low of $13.78 and a 1 year high of $28.72. The company's fifty day simple moving average is $22.05 and its 200-day simple moving average is $22.83. The stock has a market capitalization of $31.86 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 0.57 and a beta of 2.58.

Carnival (NYSE:CCL - Get Free Report) last released its quarterly earnings data 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 for 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. The business's quarterly revenue was up 9.5% compared to the same quarter last year. As a group, research analysts predict that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

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.