iA Global Asset Management Inc. Purchases 38,503 Shares of Carnival Corporation $CCL

iA Global Asset Management Inc. increased its position in shares of Carnival Corporation (NYSE:CCL) by 19.6% in the 4th quarter, HoldingsChannel reports. The firm owned 235,229 shares of the company’s stock after acquiring an additional 38,503 shares during the quarter. iA Global Asset Management Inc.’s holdings in Carnival were worth $7,184,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CCL. BOCHK Asset Management Ltd acquired a new position in Carnival during the fourth quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new position in Carnival during the third quarter worth about $25,000. Newbridge Financial Services Group Inc. raised its stake in Carnival by 381.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the company’s stock worth $29,000 after acquiring an additional 762 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in Carnival by 182.0% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,021 shares of the company’s stock worth $30,000 after acquiring an additional 659 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in Carnival during the third quarter worth about $30,000. Institutional investors and hedge funds own 67.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CCL shares. Weiss Ratings raised Carnival from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 30th. Wells Fargo & Company lowered their target price on Carnival from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, April 15th. HSBC raised Carnival from a “hold” rating to a “buy” rating and lowered their target price for the stock from $33.60 to $30.10 in a research note on Monday, March 30th. Sanford C. Bernstein lowered their target price on Carnival from $33.00 to $28.70 and set a “market perform” rating for the company in a research note on Monday, March 30th. Finally, Zacks Research downgraded Carnival from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. Twenty equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.18.

Carnival Stock Performance

NYSE:CCL opened at $24.64 on Monday. The company has a market capitalization of $30.53 billion, a PE ratio of 10.95, a P/E/G ratio of 1.09 and a beta of 2.33. The company has a 50 day simple moving average of $26.15 and a two-hundred day simple moving average of $28.11. 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 Corporation has a fifty-two week low of $21.62 and a fifty-two week high of $34.03.

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

Carnival Announces Dividend

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

Insiders Place Their Bets

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the stock in a transaction that occurred on 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 approximately $1,377,620.19. This represents a 18.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 12,000 shares of company stock worth $314,265. Corporate insiders own 7.90% of the company’s stock.

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.