Sei Investments Co. reduced its position in Carnival Corp (NYSE:CCL) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 842,696 shares of the company’s stock after selling 47,783 shares during the quarter. Sei Investments Co. owned approximately 0.16% of Carnival worth $55,930,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC purchased a new stake in Carnival during the fourth quarter worth approximately $123,000. Grove Bank & Trust lifted its stake in Carnival by 367.8% in the third quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock valued at $131,000 after buying an additional 1,600 shares during the last quarter. Smithfield Trust Co. lifted its stake in Carnival by 826.2% in the third quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock valued at $182,000 after buying an additional 2,520 shares during the last quarter. Nine Chapters Capital Management LLC purchased a new stake in Carnival in the third quarter valued at approximately $200,000. Finally, Clarus Wealth Advisors purchased a new stake in Carnival in the fourth quarter valued at approximately $218,000. 75.73% of the stock is owned by institutional investors.
A number of research analysts recently weighed in on the company. Barclays upped their price objective on Carnival from $67.00 to $73.00 and gave the stock an “equal weight” rating in a report on Thursday, December 21st. Zacks Investment Research raised Carnival from a “sell” rating to a “hold” rating in a report on Thursday, December 7th. Morgan Stanley raised Carnival from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $65.94 to $68.00 in a report on Wednesday, December 6th. Credit Suisse Group set a $72.00 target price on Carnival and gave the company a “hold” rating in a report on Tuesday, December 12th. Finally, Tigress Financial restated a “buy” rating on shares of Carnival in a research report on Friday, December 22nd. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $73.84.
Carnival Corp (CCL) traded up $0.72 during mid-day trading on Thursday, hitting $66.73. The stock had a trading volume of 2,361,674 shares, compared to its average volume of 3,110,000. 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 Corp has a fifty-two week low of $55.49 and a fifty-two week high of $72.70. The firm has a market capitalization of $47,520.00, a price-to-earnings ratio of 18.59, a P/E/G ratio of 1.11 and a beta of 0.79.
Carnival (NYSE:CCL) last posted its earnings results on Tuesday, December 19th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. research analysts expect that Carnival Corp will post 4.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 23rd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.70%. Carnival’s dividend payout ratio (DPR) is currently 22.28%.
In other news, CEO Stein Kruse sold 60,665 shares of Carnival stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $66.59, for a total value of $4,039,682.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arnold W. Donald sold 5,000 shares of Carnival stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $66.41, for a total value of $332,050.00. Following the completion of the transaction, the chief executive officer now owns 132,376 shares of the company’s stock, valued at approximately $8,791,090.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 336,364 shares of company stock valued at $22,626,561. Insiders own 23.80% of the company’s stock.
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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