California State Teachers Retirement System Reduces Position in Carnival Corporation (CCL)

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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About Carnival

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 (NYSE:CCL)

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