Wells Fargo & Company MN grew its position in shares of Carnival Corp (NYSE:CCL) by 24.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,700,280 shares of the company’s stock after purchasing an additional 536,459 shares during the quarter. Wells Fargo & Company MN owned 0.51% of Carnival worth $172,197,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC increased its position in shares of Carnival by 213.9% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 12,557 shares of the company’s stock valued at $102,000 after purchasing an additional 8,557 shares during the period. Flagship Harbor Advisors LLC acquired a new position in shares of Carnival during the 2nd quarter valued at $124,000. Mainstay Capital Management LLC ADV increased its position in shares of Carnival by 1,262.1% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,320 shares of the company’s stock valued at $125,000 after purchasing an additional 5,856 shares during the period. Stratos Wealth Partners LTD. acquired a new position in shares of Carnival during the 3rd quarter valued at $173,000. Finally, Palo Capital Inc. acquired a new position in shares of Carnival in the 3rd quarter worth $189,000. Institutional investors own 76.18% of the company’s stock.
A number of brokerages recently issued reports on CCL. ValuEngine upgraded Carnival from a “sell” rating to a “hold” rating in a report on Friday, September 14th. Deutsche Bank decreased their target price on Carnival from $68.00 to $65.00 and set a “hold” rating on the stock in a report on Friday, September 28th. Stifel Nicolaus decreased their target price on Carnival from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, September 28th. JPMorgan Chase & Co. restated a “hold” rating on shares of Carnival in a report on Thursday, October 11th. Finally, Macquarie set a $55.00 target price on Carnival and gave the stock a “sell” rating in a report on Friday, September 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $72.86.
Shares of NYSE CCL opened at $58.54 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.17 and a current ratio of 0.22. The firm has a market capitalization of $30.91 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.99 and a beta of 1.01. Carnival Corp has a 52-week low of $53.47 and a 52-week high of $72.70.
Carnival (NYSE:CCL) last issued its earnings results on Thursday, September 27th. The company reported $2.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.80 billion. Carnival had a return on equity of 12.30% and a net margin of 17.15%. Carnival’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.29 earnings per share. As a group, research analysts expect that Carnival Corp will post 4.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 23rd will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $2.00 annualized dividend and a dividend yield of 3.42%. Carnival’s dividend payout ratio (DPR) is presently 52.36%.
In other news, General Counsel Arnaldo Perez sold 7,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $64.26, for a total value of $449,820.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.80% of the company’s stock.
Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.
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