Meadow Creek Investment Management LLC grew its holdings in shares of Carnival Corp (NYSE:CCL) by 151.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 157,146 shares of the company’s stock after acquiring an additional 94,578 shares during the period. Meadow Creek Investment Management LLC’s holdings in Carnival were worth $10,430,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC bought a new position in Carnival during the fourth quarter worth $123,000. Focused Wealth Management Inc bought a new position in Carnival during the fourth quarter worth $133,000. Grove Bank & Trust raised its stake in Carnival by 367.8% during the third quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock worth $131,000 after buying an additional 1,600 shares during the last quarter. Avestar Capital LLC bought a new position in Carnival during the fourth quarter worth $148,000. Finally, Delpha Capital Management LLC bought a new position in Carnival during the fourth quarter worth $173,000. 76.74% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on CCL. Credit Suisse Group lifted their target price on shares of Carnival from $78.10 to $79.50 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. ValuEngine raised shares of Carnival from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Morgan Stanley lifted their target price on shares of Carnival from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Buckingham Research reissued a “buy” rating and set a $84.00 target price (up previously from $80.00) on shares of Carnival in a research note on Wednesday, December 20th. Finally, Stifel Nicolaus lifted their target price on shares of Carnival from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $73.84.
Shares of Carnival Corp (CCL) opened at $67.57 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 0.18 and a debt-to-equity ratio of 0.29. The company has a market cap of $35,981.80, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 1.13 and a beta of 0.80. Carnival Corp has a twelve month low of $56.73 and a twelve month high of $72.70.
Carnival (NYSE:CCL) last posted its quarterly earnings results on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.12. The business had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Carnival had a net margin of 14.88% and a return on equity of 11.78%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company posted $0.67 earnings per share. equities analysts predict that Carnival Corp will post 4.28 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Thursday, February 22nd. Carnival’s dividend payout ratio is currently 22.28%.
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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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