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.
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