Earnest Partners LLC lowered its position in shares of Carnival Corp (NYSE:CCL) by 6.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,790,694 shares of the company’s stock after selling 187,342 shares during the quarter. Carnival accounts for approximately 1.8% of Earnest Partners LLC’s investment portfolio, making the stock its 3rd biggest holding. Earnest Partners LLC owned 0.52% of Carnival worth $185,218,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of CCL. SeaCrest Wealth Management LLC bought a new position in shares of Carnival during the 4th quarter worth approximately $123,000. Grove Bank & Trust lifted its position in shares of Carnival by 367.8% during the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock worth $131,000 after buying an additional 1,600 shares in the last quarter. Focused Wealth Management Inc bought a new position in shares of Carnival during the 4th quarter worth approximately $133,000. Avestar Capital LLC bought a new position in shares of Carnival during the 4th quarter worth approximately $148,000. Finally, Delpha Capital Management LLC bought a new position in shares of Carnival during the 4th quarter worth approximately $173,000. 76.74% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on CCL. ValuEngine raised shares of Carnival from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of Carnival from a “hold” rating to a “sell” rating in a report on Tuesday, November 28th. Stifel Nicolaus lifted their price target on shares of Carnival from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. Buckingham Research reaffirmed a “buy” rating and issued a $84.00 price target (up previously from $80.00) on shares of Carnival in a report on Wednesday, December 20th. Finally, Barclays lifted their price target on shares of Carnival from $67.00 to $73.00 and gave the stock an “equal weight” rating in a report on Thursday, December 21st. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Carnival has a consensus rating of “Buy” and a consensus price target of $73.84.
Carnival (NYSE:CCL) last released its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. Carnival had a net margin of 14.88% and a return on equity of 11.78%. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the business earned $0.67 EPS. Carnival’s revenue was up 8.2% compared to the same quarter last year. equities analysts predict that Carnival Corp will post 4.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, February 23rd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.67%. Carnival’s dividend payout ratio is 22.28%.
In related news, General Counsel Arnaldo Perez sold 15,166 shares of Carnival stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total value of $1,009,903.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sir Jonathon Band sold 3,840 shares of Carnival stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $69.59, for a total transaction of $267,225.60. The disclosure for this sale can be found here. Insiders sold a total of 336,364 shares of company stock valued at $22,626,561 over the last quarter. 23.80% of the stock is owned by company insiders.
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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