iA Global Asset Management Inc. Has $7.18 Million Position in Carnival Corporation $CCL

iA Global Asset Management Inc. raised its stake in Carnival Corporation (NYSE:CCL) by 19.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 235,229 shares of the company’s stock after purchasing an additional 38,503 shares during the period. iA Global Asset Management Inc.’s holdings in Carnival were worth $7,184,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CCL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Carnival by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,167 shares of the company’s stock valued at $2,191,000 after purchasing an additional 5,435 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Carnival in the first quarter valued at $228,000. Empowered Funds LLC increased its holdings in shares of Carnival by 61.6% in the first quarter. Empowered Funds LLC now owns 30,437 shares of the company’s stock valued at $594,000 after purchasing an additional 11,601 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Carnival by 41.9% in the first quarter. Woodline Partners LP now owns 88,522 shares of the company’s stock valued at $1,729,000 after purchasing an additional 26,141 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Carnival by 57.0% in the second quarter. Baird Financial Group Inc. now owns 64,720 shares of the company’s stock valued at $1,820,000 after purchasing an additional 23,484 shares during the last quarter. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Sir Jonathon Band sold 11,988 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total transaction of $313,965.72. Following the completion of the sale, the director owned 52,601 shares of the company’s stock, valued at $1,377,620.19. This represents a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 12,000 shares of company stock worth $314,265 over the last three months. Corporate insiders own 7.90% of the company’s stock.

Carnival Trading Up 0.0%

Shares of Carnival stock opened at $24.64 on Monday. The firm has a 50-day moving average of $26.15 and a 200-day moving average of $28.11. The stock has a market cap of $30.53 billion, a PE ratio of 10.95, a PEG ratio of 1.09 and a beta of 2.33. Carnival Corporation has a 52-week low of $21.62 and a 52-week high of $34.03. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.26 and a current ratio of 0.30.

Carnival (NYSE:CCL) last posted its quarterly earnings data on Friday, March 27th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. Carnival had a net margin of 11.48% and a return on equity of 26.92%. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.13 billion. During the same quarter in the prior year, the business posted $0.13 earnings per share. Carnival’s revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Carnival Corporation will post 2.21 EPS for the current year.

Carnival Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.60 annualized dividend and a yield of 2.4%. Carnival’s dividend payout ratio is currently 26.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CCL shares. Zacks Research cut shares of Carnival from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th. HSBC raised shares of Carnival from a “hold” rating to a “buy” rating and reduced their target price for the company from $33.60 to $30.10 in a research report on Monday, March 30th. Wall Street Zen cut shares of Carnival from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. TD Cowen boosted their target price on shares of Carnival from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Friday. Finally, Mizuho boosted their target price on shares of Carnival from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, March 27th. Twenty analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.18.

Carnival Company 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.