Nissay Asset Management Corp Japan ADV reduced its position in Carnival Corp (NYSE:CCL) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,987 shares of the company’s stock after selling 3,070 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Carnival were worth $2,992,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Nuveen Asset Management LLC grew its holdings in shares of Carnival by 0.5% during the fourth quarter. Nuveen Asset Management LLC now owns 34,308 shares of the company’s stock valued at $1,691,000 after buying an additional 179 shares during the last quarter. Wetherby Asset Management Inc. boosted its holdings in Carnival by 2.9% in the fourth quarter. Wetherby Asset Management Inc. now owns 6,526 shares of the company’s stock valued at $322,000 after purchasing an additional 184 shares during the last quarter. New Potomac Partners LLC boosted its holdings in Carnival by 0.7% in the fourth quarter. New Potomac Partners LLC now owns 30,530 shares of the company’s stock valued at $1,505,000 after purchasing an additional 200 shares during the last quarter. Hanson McClain Inc. boosted its holdings in Carnival by 16.4% in the fourth quarter. Hanson McClain Inc. now owns 1,424 shares of the company’s stock valued at $70,000 after purchasing an additional 201 shares during the last quarter. Finally, Tealwood Asset Management Inc. boosted its holdings in Carnival by 0.4% in the first quarter. Tealwood Asset Management Inc. now owns 54,965 shares of the company’s stock valued at $2,788,000 after purchasing an additional 219 shares during the last quarter. 76.75% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO David Bernstein sold 24,682 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $57.08, for a total transaction of $1,408,848.56. Following the completion of the transaction, the chief financial officer now owns 70,362 shares in the company, valued at approximately $4,016,262.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stein Kruse sold 32,163 shares of the company’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $57.08, for a total transaction of $1,835,864.04. Following the transaction, the chief executive officer now owns 92,198 shares of the company’s stock, valued at approximately $5,262,661.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,536 shares of company stock valued at $3,569,555. Insiders own 24.10% of the company’s stock.
Shares of Carnival stock opened at $53.82 on Thursday. The stock has a market capitalization of $27.81 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.11 and a beta of 1.25. Carnival Corp has a fifty-two week low of $45.64 and a fifty-two week high of $67.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.22 and a quick ratio of 0.17.
Carnival (NYSE:CCL) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. The business had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.31 billion. Carnival had a net margin of 16.03% and a return on equity of 12.30%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 earnings per share. On average, sell-side analysts predict that Carnival Corp will post 4.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.72%. Carnival’s dividend payout ratio (DPR) is currently 46.95%.
Several equities research analysts have commented on CCL shares. Deutsche Bank reaffirmed a “hold” rating and issued a $59.00 price target on shares of Carnival in a report on Wednesday, March 27th. ValuEngine raised shares of Carnival from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Zacks Investment Research raised shares of Carnival from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Macquarie raised shares of Carnival from a “neutral” rating to an “outperform” rating and upped their price target for the company from $58.00 to $66.00 in a report on Friday, January 25th. They noted that the move was a valuation call. Finally, Standpoint Research lowered shares of Carnival from a “buy” rating to a “hold” rating and set a $57.16 price target on the stock. in a report on Wednesday, January 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. Carnival presently has a consensus rating of “Buy” and a consensus target price of $66.70.
Carnival Company Profile
Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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