Cornerstone Capital Management Holdings LLC. lessened its position in Carnival Corporation (NYSE:CCL) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 455,783 shares of the company’s stock after selling 49,855 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.09% of Carnival worth $29,429,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of CCL. Alliancebernstein L.P. increased its stake in Carnival by 316.9% in the second quarter. Alliancebernstein L.P. now owns 4,236,266 shares of the company’s stock valued at $277,772,000 after purchasing an additional 3,220,191 shares in the last quarter. Janus Henderson Group PLC increased its stake in Carnival by 115.5% in the second quarter. Janus Henderson Group PLC now owns 3,088,143 shares of the company’s stock valued at $202,505,000 after purchasing an additional 1,655,345 shares in the last quarter. Numeric Investors LLC increased its stake in Carnival by 160.4% in the second quarter. Numeric Investors LLC now owns 2,416,066 shares of the company’s stock valued at $158,421,000 after purchasing an additional 1,488,366 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Carnival by 4,220.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,496,929 shares of the company’s stock valued at $98,154,000 after purchasing an additional 1,462,278 shares in the last quarter. Finally, Capital Growth Management LP bought a new stake in Carnival in the third quarter valued at approximately $65,539,000. 75.94% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of Carnival from a “sell” rating to a “hold” rating in a research note on Thursday. Morgan Stanley upgraded shares of Carnival from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $65.94 to $68.00 in a report on Wednesday. Instinet reiterated a “buy” rating and issued a $75.00 price target on shares of Carnival in a report on Monday, October 2nd. Nomura reiterated a “buy” rating and issued a $75.00 price target on shares of Carnival in a report on Friday, September 29th. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of Carnival in a report on Thursday, September 28th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $67.73.
In other news, CEO Arnold W. Donald sold 90,903 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $67.41, for a total value of $6,127,771.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Arnold W. Donald sold 5,000 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $65.43, for a total transaction of $327,150.00. Following the completion of the transaction, the chief executive officer now directly owns 115,572 shares in the company, valued at $7,561,875.96. The disclosure for this sale can be found here. Insiders have sold 100,903 shares of company stock worth $6,782,771 over the last ninety days. Insiders own 23.80% of the company’s stock.
Shares of Carnival Corporation (NYSE CCL) opened at $66.91 on Friday. The company has a current ratio of 0.21, a quick ratio of 0.16 and a debt-to-equity ratio of 0.32. Carnival Corporation has a 1 year low of $50.77 and a 1 year high of $69.89. The stock has a market cap of $35,461.63, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 1.18 and a beta of 0.73.
Carnival (NYSE:CCL) last posted its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.09. Carnival had a net margin of 15.53% and a return on equity of 12.15%. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the firm posted $1.92 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. equities analysts anticipate that Carnival Corporation will post 3.7 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be given a dividend of $0.45 per share. This is a positive change from Carnival’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.69%. The ex-dividend date is Wednesday, November 22nd. Carnival’s dividend payout ratio is 43.72%.
Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.
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