KBC Group NV Grows Position in Carnival Corporation (NYSE:CCL)

KBC Group NV grew its stake in Carnival Corporation (NYSE:CCL) by 0.8% during the 1st quarter, HoldingsChannel reports. The firm owned 73,391 shares of the company’s stock after buying an additional 553 shares during the quarter. KBC Group NV’s holdings in Carnival were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Prestige Wealth Management Group LLC lifted its position in shares of Carnival by 23.1% during the 4th quarter. Prestige Wealth Management Group LLC now owns 2,173 shares of the company’s stock valued at $54,000 after buying an additional 408 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its position in shares of Carnival by 3.3% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 14,917 shares of the company’s stock valued at $372,000 after buying an additional 475 shares in the last quarter. Kentucky Retirement Systems lifted its position in shares of Carnival by 0.9% during the 1st quarter. Kentucky Retirement Systems now owns 70,058 shares of the company’s stock valued at $1,368,000 after buying an additional 638 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Carnival by 1.7% during 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 in the last quarter. Finally, Rothschild Investment LLC lifted its position in shares of Carnival by 7.3% during the 1st quarter. Rothschild Investment LLC now owns 11,740 shares of the company’s stock valued at $229,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Wall Street Analysts Forecast Growth

CCL has been the topic of a number of recent analyst reports. Northcoast Research initiated coverage on Carnival in a research report on Friday, April 25th. They set a “neutral” rating on the stock. Citigroup increased their target price on Carnival from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. HSBC upgraded Carnival from a “reduce” rating to a “hold” rating and set a $24.00 target price on the stock in a research report on Friday, May 16th. Hsbc Global Res upgraded Carnival from a “moderate sell” rating to a “hold” rating in a research report on Friday, May 16th. Finally, Bank of America increased their target price on Carnival from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.65.

Carnival Stock Performance

Shares of CCL opened at $29.96 on Friday. The stock has a 50-day simple moving average of $23.12 and a 200-day simple moving average of $22.93. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34. The stock has a market capitalization of $34.98 billion, a PE ratio of 16.19, a PEG ratio of 0.65 and a beta of 2.61. Carnival Corporation has a 1 year low of $13.78 and a 1 year high of $30.24.

Carnival (NYSE:CCL) last announced its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. The business had revenue of $6.33 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. On average, analysts predict that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Carnival Company 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.