iA Global Asset Management Inc. Sells 233,507 Shares of Carnival Corporation $CCL

Key Points

• iA Global Asset Management sharply reduced its Carnival stake by 99.3% in the first quarter, selling 233,507 shares and leaving just 1,722 shares worth about $45,000.
• Carnival reported better-than-expected quarterly earnings of $0.41 per share, topping estimates, while revenue came in at $6.66 billion and rose 5.3% year over year.
• Analyst sentiment remains constructive, with several firms raising price targets and the consensus rating standing at “Moderate Buy” with a target price of $35.23.

iA Global Asset Management Inc. cut its holdings in shares of Carnival Corporation (NYSE:CCL - Free Report) by 99.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,722 shares of the company's stock after selling 233,507 shares during the quarter. iA Global Asset Management Inc.'s holdings in Carnival were worth $45,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC bought a new position in shares of Carnival in the third quarter valued at about $25,000. BOCHK Asset Management Ltd bought a new stake in shares of Carnival during the 4th quarter worth about $25,000. Lloyd Advisory Services LLC. acquired a new position in Carnival in the 4th quarter valued at about $26,000. Newbridge Financial Services Group Inc. raised its holdings in Carnival by 381.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the company's stock valued at $29,000 after acquiring an additional 762 shares during the period. Finally, Johnson Financial Group Inc. bought a new position in Carnival in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 67.19% of the company's stock.

Carnival Stock Up 0.2%

Shares of CCL opened at $27.95 on Friday. Carnival Corporation has a 12 month low of $23.45 and a 12 month high of $34.03. The firm's 50 day moving average is $27.41 and its 200-day moving average is $28.47. The stock has a market capitalization of $38.29 billion, a PE ratio of 12.59, a P/E/G ratio of 1.23 and a beta of 2.32. The company has a current ratio of 0.33, a quick ratio of 0.29 and a debt-to-equity ratio of 1.80.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 23rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $6.66 billion during the quarter, compared to analysts' expectations of $6.69 billion. Carnival had a return on equity of 26.11% and a net margin of 11.24%.The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 earnings per share. Carnival has set its FY 2026 guidance at 2.220-2.220 EPS and its Q3 2026 guidance at 1.350-1.350 EPS. Equities research analysts forecast that Carnival Corporation will post 2.22 EPS for the current year.

Carnival Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, May 18th. This represents a $0.60 annualized dividend and a yield of 2.1%. Carnival's dividend payout ratio is presently 27.03%.

Insider Activity at Carnival

In other news, insider Bettina Alejandra Deynes sold 43,058 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.10, for a total value of $1,209,929.80. Following the sale, the insider directly owned 69,238 shares in the company, valued at approximately $1,945,587.80. This trade represents a 38.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.90% of the company's stock.

Analyst Upgrades and Downgrades

CCL has been the subject of a number of research analyst reports. Susquehanna boosted their price objective on Carnival from $30.00 to $33.00 and gave the stock a "positive" rating in a report on Wednesday, June 24th. Melius Research set a $36.00 target price on Carnival in a research note on Wednesday, June 17th. Tigress Financial lifted their price target on Carnival from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday. Sanford C. Bernstein downgraded Carnival from a "market perform" rating to a "market perform" rating in a research note on Tuesday, June 23rd. Finally, Wall Street Zen lowered Carnival from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $35.23.

Carnival Profile

Carnival Corporation NYSE: CCL is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company's core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.

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