CIBC World Markets Inc. cut its stake in Carnival Corp (NYSE:CCL) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,811 shares of the company’s stock after selling 2,457 shares during the period. CIBC World Markets Inc.’s holdings in Carnival were worth $1,646,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its holdings 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 worth $102,000 after buying an additional 8,557 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Carnival in the 2nd quarter worth $124,000. Mainstay Capital Management LLC ADV lifted its holdings in shares of Carnival by 1,262.1% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,320 shares of the company’s stock worth $125,000 after purchasing an additional 5,856 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Carnival by 202.9% in the 3rd quarter. Bessemer Group Inc. now owns 2,096 shares of the company’s stock worth $134,000 after purchasing an additional 1,404 shares in the last quarter. Finally, Girard Partners LTD. bought a new position in shares of Carnival in the 3rd quarter worth $148,000. Institutional investors and hedge funds own 73.97% 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 Tuesday, November 13th. Credit Suisse Group set a $76.00 target price on Carnival and gave the stock a “buy” rating in a report on Tuesday, November 20th. Goldman Sachs Group set a $70.00 target price on Carnival and gave the stock a “hold” rating in a report on Monday, September 24th. Citigroup cut their target price on Carnival from $79.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, August 8th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Carnival in a report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $72.93.
In related news, General Counsel Arnaldo Perez sold 7,000 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 23.80% of the company’s stock.
NYSE CCL opened at $60.29 on Monday. The firm has a market capitalization of $31.76 billion, a P/E ratio of 15.78, a P/E/G ratio of 1.02 and a beta of 1.01. Carnival Corp has a 12 month low of $53.47 and a 12 month high of $72.70. The company has a quick ratio of 0.17, a current ratio of 0.22 and a debt-to-equity ratio of 0.34.
Carnival (NYSE:CCL) last released its quarterly earnings results on Thursday, September 27th. The company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.80 billion. Carnival had a return on equity of 12.30% and a net margin of 17.15%. Carnival’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.29 EPS. Equities analysts expect that Carnival Corp will post 4.25 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 23rd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Wednesday, November 21st. Carnival’s payout ratio is currently 52.36%.
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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