California State Teachers Retirement System lessened its position in shares of Carnival Corporation (NYSE:CCL) by 7.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 702,343 shares of the company’s stock after selling 59,395 shares during the quarter. California State Teachers Retirement System owned about 0.13% of Carnival worth $45,350,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Pathstone Family Office LLC grew its stake in shares of Carnival 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 purchasing an additional 38 shares during the last quarter. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Carnival in the 2nd quarter valued at approximately $289,000. Almanack Investment Partners LLC. purchased a new position in shares of Carnival in the 2nd quarter valued at approximately $117,000. Grove Bank & Trust grew its stake in shares of Carnival by 367.8% in the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock valued at $131,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Carnival by 109.4% in the 2nd quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock valued at $171,000 after purchasing an additional 1,368 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.
CCL has been the topic of several analyst reports. UBS reiterated a “buy” rating and issued a $76.00 target price (up from $67.00) on shares of Carnival in a research note on Thursday, August 17th. BidaskClub raised Carnival from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Zacks Investment Research raised Carnival from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a report on Tuesday, August 22nd. Credit Suisse Group cut Carnival from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $78.00 to $70.00 in a report on Friday, September 15th. Finally, Susquehanna Bancshares raised their price target on Carnival from $75.00 to $76.00 and gave the company a “positive” rating in a report on Monday, September 25th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $68.83.
In related news, CEO Arnold W. Donald sold 5,000 shares of Carnival stock in a transaction on 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 of the company’s stock, valued at $7,561,875.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 100,903 shares of company stock valued at $6,782,771. 23.80% of the stock is currently owned by insiders.
Shares of Carnival Corporation (NYSE:CCL) opened at $65.18 on Friday. The company has a market capitalization of $35,049.04, a P/E ratio of 16.95, a PEG ratio of 1.17 and a beta of 0.73. Carnival Corporation has a 1-year low of $50.77 and a 1-year high of $69.89. The company has a quick ratio of 0.16, a current ratio of 0.21 and a debt-to-equity ratio of 0.32.
Carnival (NYSE:CCL) last issued its quarterly earnings data on Tuesday, September 26th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.09. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Carnival had a return on equity of 12.15% and a net margin of 15.53%. Carnival’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.92 earnings per share. sell-side analysts anticipate that Carnival Corporation will post 3.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, November 22nd. This is a boost from Carnival’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.76%. Carnival’s payout ratio is currently 43.72%.
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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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