Intact Investment Management Inc. Grows Stock Holdings in Carnival Corporation (NYSE:CCL)

Intact Investment Management Inc. raised its position in shares of Carnival Corporation (NYSE:CCL) by 101.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,700 shares of the company’s stock after buying an additional 27,000 shares during the period. Intact Investment Management Inc.’s holdings in Carnival were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CCL. FMR LLC boosted its position in shares of Carnival by 186.6% during the fourth quarter. FMR LLC now owns 9,898,906 shares of the company’s stock worth $246,681,000 after buying an additional 6,444,444 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Carnival by 33.7% during the fourth quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company’s stock worth $569,423,000 after buying an additional 5,761,489 shares during the period. Vanguard Group Inc. boosted its position in shares of Carnival by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 117,095,566 shares of the company’s stock worth $2,918,022,000 after buying an additional 4,458,329 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in Carnival in the fourth quarter valued at $100,845,000. Finally, AQR Capital Management LLC boosted its holdings in Carnival by 228.8% in the fourth quarter. AQR Capital Management LLC now owns 4,689,305 shares of the company’s stock valued at $116,857,000 after purchasing an additional 3,263,204 shares during the period. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Carnival Stock Up 0.6%

Carnival stock opened at $23.76 on Monday. Carnival Corporation has a fifty-two week low of $13.78 and a fifty-two week high of $28.72. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.21 and a current ratio of 0.26. The company has a market capitalization of $27.72 billion, a P/E ratio of 15.84, a PEG ratio of 0.55 and a beta of 2.58. The stock has a 50-day simple moving average of $21.45 and a 200-day simple moving average of $22.81.

Carnival (NYSE:CCL) last posted its quarterly earnings data on Friday, March 21st. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.02 by $0.11. The firm had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.74 billion. Carnival had a return on equity of 26.53% and a net margin of 8.07%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.14) EPS. Equities research analysts expect that Carnival Corporation will post 1.77 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on CCL shares. Stifel Nicolaus lifted their target price on Carnival from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. Macquarie decreased their target price on Carnival from $31.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Loop Capital lifted their target price on Carnival from $21.00 to $22.00 and gave the company a “hold” rating in a report on Tuesday, June 3rd. Citigroup lifted their target price on Carnival from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, June 5th. Finally, Tigress Financial reiterated a “buy” rating on shares of Carnival in a report on Wednesday, March 26th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.79.

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.