Intact Investment Management Inc. Has $1.05 Million Stake in Carnival Corporation (NYSE:CCL)

Intact Investment Management Inc. raised its stake in Carnival Corporation (NYSE:CCL - Free Report) by 101.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,700 shares of the company's stock after buying an additional 27,000 shares during the quarter. Intact Investment Management Inc.'s holdings in Carnival were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC raised its position in shares of Carnival by 23.1% in the 4th quarter. Prestige Wealth Management Group LLC now owns 2,173 shares of the company's stock valued at $54,000 after acquiring an additional 408 shares during the period. Sound View Wealth Advisors Group LLC raised its holdings in Carnival by 3.3% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 14,917 shares of the company's stock worth $372,000 after purchasing an additional 475 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Carnival by 39.2% during the fourth quarter. Venturi Wealth Management LLC now owns 2,207 shares of the company's stock worth $55,000 after purchasing an additional 622 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Carnival by 1.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 45,816 shares of the company's stock valued at $1,142,000 after buying an additional 770 shares during the period. Finally, TCW Group Inc. grew its holdings in shares of Carnival by 5.8% in the 4th quarter. TCW Group Inc. now owns 14,445 shares of the company's stock valued at $360,000 after buying an additional 788 shares during the period. Institutional investors own 67.19% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on CCL shares. HSBC upgraded Carnival from a "reduce" rating to a "hold" rating and set a $24.00 target price on the stock in a report on Friday, May 16th. Barclays reiterated an "overweight" rating and issued a $30.00 price objective (up from $26.00) on shares of Carnival in a research report on Tuesday, June 17th. Hsbc Global Res upgraded shares of Carnival from a "moderate sell" rating to a "hold" rating in a report on Friday, May 16th. Wall Street Zen upgraded shares of Carnival from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Finally, Morgan Stanley upgraded shares of Carnival from an "underweight" rating to an "equal weight" rating and dropped their price objective for the stock from $25.00 to $21.00 in a report on Thursday, April 10th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $26.79.

Carnival Stock Up 7.0%

Shares of NYSE:CCL traded up $1.68 during trading on Tuesday, hitting $25.72. 70,048,064 shares of the company were exchanged, compared to its average volume of 25,600,133. Carnival Corporation has a fifty-two week low of $13.78 and a fifty-two week high of $28.72. The stock has a market cap of $30.00 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 0.56 and a beta of 2.58. The company has a current ratio of 0.26, a quick ratio of 0.21 and a debt-to-equity ratio of 2.78. The firm has a fifty day moving average price of $21.58 and a two-hundred day moving average price of $22.79.

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 8.07% and a return on equity of 26.53%. The business had revenue of $6.33 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same period in the previous year, the company earned $0.11 earnings per share. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. As a group, research analysts anticipate that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

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.