Oakbrook Investments LLC raised its stake in Carnival Corp (NYSE:CCL) by 362.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,050 shares of the company’s stock after buying an additional 16,500 shares during the quarter. Oakbrook Investments LLC’s holdings in Carnival were worth $1,397,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Grove Bank & Trust lifted its position in shares of Carnival by 367.8% during the third quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock worth $131,000 after purchasing an additional 1,600 shares in the last quarter. Smithfield Trust Co. lifted its position in shares of Carnival by 826.2% during the third quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock worth $182,000 after purchasing an additional 2,520 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its position in shares of Carnival by 1.4% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock worth $191,000 after purchasing an additional 40 shares in the last quarter. Sun Life Financial INC lifted its position in shares of Carnival by 23,315.4% during the second quarter. Sun Life Financial INC now owns 3,044 shares of the company’s stock worth $200,000 after purchasing an additional 3,031 shares in the last quarter. Finally, Nine Chapters Capital Management LLC acquired a new stake in shares of Carnival during the third quarter worth about $200,000. 75.65% of the stock is currently owned by institutional investors.
Shares of Carnival Corp (CCL) traded up $0.31 during trading hours on Friday, reaching $67.07. 5,179,102 shares of the company traded hands, compared to its average volume of 3,360,000. The firm has a market capitalization of $47,940.00, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.13 and a beta of 0.75. Carnival Corp has a 52-week low of $54.75 and a 52-week high of $72.70. The company has a current ratio of 0.18, a quick ratio of 0.14 and a debt-to-equity ratio of 0.29.
Carnival (NYSE:CCL) last announced its quarterly earnings results on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.12. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.15 billion. Carnival had a net margin of 14.88% and a return on equity of 11.78%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 earnings per share. research analysts predict that Carnival Corp will post 4.27 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 23rd will be paid a $0.45 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $1.80 annualized dividend and a yield of 2.68%. Carnival’s dividend payout ratio is currently 32.03%.
Several analysts have recently issued reports on CCL shares. Tigress Financial reissued a “buy” rating on shares of Carnival in a research report on Friday, December 22nd. Deutsche Bank increased their price target on shares of Carnival to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, December 20th. Credit Suisse Group raised shares of Carnival from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $66.05 to $70.00 in a research report on Tuesday, January 9th. Morgan Stanley raised shares of Carnival from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $65.94 to $68.00 in a research report on Wednesday, December 6th. Finally, SunTrust Banks reissued a “buy” rating and set a $84.00 price target (up previously from $72.00) on shares of Carnival in a research report on Tuesday, December 19th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Carnival currently has a consensus rating of “Buy” and an average target price of $73.45.
In other Carnival news, CEO Arnold W. Donald sold 5,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $65.57, for a total value of $327,850.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO David Bernstein sold 11,000 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $66.50, for a total transaction of $731,500.00. Following the completion of the transaction, the chief financial officer now owns 30,443 shares in the company, valued at $2,024,459.50. The disclosure for this sale can be found here. Insiders sold 313,627 shares of company stock worth $21,059,647 over the last quarter. 23.80% of the stock is currently owned by insiders.
Carnival 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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