Platinum Investment Management Ltd. Sells 302,138 Shares of Carnival Corporation (CCL)

Platinum Investment Management Ltd. lowered its position in shares of Carnival Corporation (NYSE:CCL) by 33.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 592,831 shares of the company’s stock after selling 302,138 shares during the quarter. Carnival Corporation makes up about 1.1% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 24th largest position. Platinum Investment Management Ltd. owned approximately 0.08% of Carnival Corporation worth $38,871,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CCL. Blair William & Co. IL raised its position in shares of Carnival Corporation by 1.7% during the first quarter. Blair William & Co. IL now owns 4,214 shares of the company’s stock worth $241,000 after acquiring an additional 72 shares during the last quarter. Credit Agricole S A raised its position in shares of Carnival Corporation by 17.8% during the first quarter. Credit Agricole S A now owns 148,004 shares of the company’s stock worth $8,718,000 after acquiring an additional 22,373 shares during the last quarter. Knights of Columbus Asset Advisors LLC bought a new stake in shares of Carnival Corporation during the first quarter worth $1,202,000. CFO4Life Group LLC bought a new stake in shares of Carnival Corporation during the first quarter worth $452,000. Finally, Principal Financial Group Inc. raised its position in shares of Carnival Corporation by 1.5% during the first quarter. Principal Financial Group Inc. now owns 589,967 shares of the company’s stock worth $34,755,000 after acquiring an additional 8,834 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the completion of the sale, the insider now directly owns 150,860 shares in the company, valued at approximately $10,110,637.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 23.80% of the company’s stock.

Carnival Corporation (NYSE CCL) traded down 0.42% on Friday, reaching $65.63. The company’s stock had a trading volume of 3,411,448 shares. The stock has a market cap of $47.32 billion, a price-to-earnings ratio of 17.85 and a beta of 0.71. Carnival Corporation has a 52-week low of $45.92 and a 52-week high of $69.89. The firm’s 50-day moving average price is $66.47 and its 200-day moving average price is $64.22.

Carnival Corporation (NYSE:CCL) last issued its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.09. Carnival Corporation had a return on equity of 12.15% and a net margin of 15.53%. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the business posted $1.92 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. On average, equities analysts expect that Carnival Corporation will post $3.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.44%. Carnival Corporation’s payout ratio is currently 43.72%.

TRADEMARK VIOLATION WARNING: “Platinum Investment Management Ltd. Sells 302,138 Shares of Carnival Corporation (CCL)” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this report can be accessed at https://ledgergazette.com/2017/10/08/platinum-investment-management-ltd-sells-302138-shares-of-carnival-corporation-ccl.html.

A number of equities research analysts have recently weighed in on CCL shares. Stifel Nicolaus restated a “buy” rating and set a $68.00 target price on shares of Carnival Corporation in a research report on Friday, June 16th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $57.00 target price (up previously from $55.00) on shares of Carnival Corporation in a research report on Tuesday, June 20th. Instinet boosted their target price on Carnival Corporation from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, June 23rd. Deutsche Bank AG restated a “hold” rating and set a $62.00 target price (up previously from $58.00) on shares of Carnival Corporation in a research report on Sunday, June 25th. Finally, Wedbush restated a “neutral” rating and set a $66.00 target price (up previously from $61.00) on shares of Carnival Corporation in a research report on Sunday, June 25th. Nine analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Carnival Corporation has an average rating of “Buy” and a consensus price target of $65.60.

About Carnival

Several other hedge funds have also recently added to or reduced their stakes in CCL. Blair William & Co. IL raised its position in shares of Carnival Corporation by 1.7% during the first quarter. Blair William & Co. IL now owns 4,214 shares of the company’s stock worth $241,000 after acquiring an additional 72 shares during the last quarter. Credit Agricole S A raised its position in shares of Carnival Corporation by 17.8% during the first quarter. Credit Agricole S A now owns 148,004 shares of the company’s stock worth $8,718,000 after acquiring an additional 22,373 shares during the last quarter. Knights of Columbus Asset Advisors LLC bought a new stake in shares of Carnival Corporation during the first quarter worth $1,202,000. CFO4Life Group LLC bought a new stake in shares of Carnival Corporation during the first quarter worth $452,000. Finally, Principal Financial Group Inc. raised its position in shares of Carnival Corporation by 1.5% during the first quarter. Principal Financial Group Inc. now owns 589,967 shares of the company’s stock worth $34,755,000 after acquiring an additional 8,834 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the completion of the sale, the insider now directly owns 150,860 shares in the company, valued at approximately $10,110,637.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 23.80% of the company’s stock.

Carnival Corporation (NYSE CCL) traded down 0.42% on Friday, reaching $65.63. The company’s stock had a trading volume of 3,411,448 shares. The stock has a market cap of $47.32 billion, a price-to-earnings ratio of 17.85 and a beta of 0.71. Carnival Corporation has a 52-week low of $45.92 and a 52-week high of $69.89. The firm’s 50-day moving average price is $66.47 and its 200-day moving average price is $64.22.

Carnival Corporation (NYSE:CCL) last issued its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.09. Carnival Corporation had a return on equity of 12.15% and a net margin of 15.53%. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the business posted $1.92 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. On average, equities analysts expect that Carnival Corporation will post $3.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.44%. Carnival Corporation’s payout ratio is currently 43.72%.

TRADEMARK VIOLATION WARNING: “Platinum Investment Management Ltd. Sells 302,138 Shares of Carnival Corporation (CCL)” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this report can be accessed at https://ledgergazette.com/2017/10/08/platinum-investment-management-ltd-sells-302138-shares-of-carnival-corporation-ccl.html.

A number of equities research analysts have recently weighed in on CCL shares. Stifel Nicolaus restated a “buy” rating and set a $68.00 target price on shares of Carnival Corporation in a research report on Friday, June 16th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $57.00 target price (up previously from $55.00) on shares of Carnival Corporation in a research report on Tuesday, June 20th. Instinet boosted their target price on Carnival Corporation from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, June 23rd. Deutsche Bank AG restated a “hold” rating and set a $62.00 target price (up previously from $58.00) on shares of Carnival Corporation in a research report on Sunday, June 25th. Finally, Wedbush restated a “neutral” rating and set a $66.00 target price (up previously from $61.00) on shares of Carnival Corporation in a research report on Sunday, June 25th. Nine analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Carnival Corporation has an average rating of “Buy” and a consensus price target of $65.60.

About Carnival Corporation

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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Institutional Ownership by Quarter for Carnival Corporation (NYSE:CCL)

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