Los Angeles Capital Management & Equity Research Inc. Takes $6.04 Million Position in Carnival Corporation (CCL)

Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Carnival Corporation (NYSE:CCL) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 93,544 shares of the company’s stock, valued at approximately $6,040,000.

Several other large investors also recently added to or reduced their stakes in the company. Pathstone Family Office LLC increased its stake in shares of Carnival Corporation by 200.0% in the 2nd quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock valued at $2,493,000 after acquiring an additional 38 shares in the last quarter. YorkBridge Wealth Partners LLC increased its stake in shares of Carnival Corporation by 1.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after acquiring an additional 40 shares in the last quarter. Security National Bank of Sioux City Iowa IA increased its stake in shares of Carnival Corporation by 0.5% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 13,390 shares of the company’s stock valued at $878,000 after acquiring an additional 65 shares in the last quarter. Scotia Capital Inc. increased its stake in shares of Carnival Corporation by 0.4% in the 2nd quarter. Scotia Capital Inc. now owns 16,604 shares of the company’s stock valued at $1,089,000 after acquiring an additional 71 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in shares of Carnival Corporation by 1.7% in the 2nd quarter. Ballentine Partners LLC now owns 4,523 shares of the company’s stock valued at $305,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 76.71% of the company’s stock.

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A number of analysts have commented on CCL shares. Zacks Investment Research upgraded shares of Carnival Corporation from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Tuesday, September 5th. Credit Suisse Group lowered shares of Carnival Corporation from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $78.00 to $70.00 in a research note on Friday, September 15th. Bank of America Corporation restated a “buy” rating and set a $73.20 price target on shares of Carnival Corporation in a research note on Monday, July 24th. BidaskClub upgraded shares of Carnival Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Finally, Deutsche Bank AG restated a “hold” rating and set a $61.00 price target (down previously from $62.00) on shares of Carnival Corporation in a research note on Wednesday, September 27th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $67.43.

In related news, CEO Arnold W. Donald sold 90,903 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $67.41, for a total value of $6,127,771.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Arnold W. Donald sold 5,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $65.43, for a total transaction of $327,150.00. Following the completion of the transaction, the chief executive officer now directly owns 115,572 shares in the company, valued at $7,561,875.96. The disclosure for this sale can be found here. 23.80% of the stock is currently owned by insiders.

Carnival Corporation (NYSE CCL) opened at $66.22 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.21 and a debt-to-equity ratio of 0.32. The firm has a market cap of $47,450.00, a PE ratio of 17.16, a P/E/G ratio of 1.35 and a beta of 0.74. Carnival Corporation has a fifty-two week low of $49.73 and a fifty-two week high of $69.89.

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. The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.39 billion. Carnival Corporation had a net margin of 15.53% and a return on equity of 12.15%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.92 EPS. analysts predict that Carnival Corporation will post 3.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be issued a $0.45 dividend. This is an increase from Carnival Corporation’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Wednesday, November 22nd. Carnival Corporation’s payout ratio is 43.60%.

Carnival Corporation Company Profile

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.

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

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