California Public Employees Retirement System boosted its position in Carnival Corp (NYSE:CCL) by 28.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 976,987 shares of the company’s stock after buying an additional 217,939 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Carnival worth $42,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Security National Bank of SO Dak lifted its position in Carnival by 1.9% in the second quarter. Security National Bank of SO Dak now owns 12,365 shares of the company’s stock valued at $576,000 after purchasing an additional 228 shares during the last quarter. Liberty Wealth Management LLC raised its holdings in shares of Carnival by 14.2% during the third quarter. Liberty Wealth Management LLC now owns 1,863 shares of the company’s stock valued at $81,000 after acquiring an additional 232 shares in the last quarter. Hartford Investment Management Co. raised its holdings in shares of Carnival by 0.4% during the second quarter. Hartford Investment Management Co. now owns 57,756 shares of the company’s stock valued at $2,689,000 after acquiring an additional 237 shares in the last quarter. Cubic Asset Management LLC raised its holdings in shares of Carnival by 0.4% during the second quarter. Cubic Asset Management LLC now owns 63,764 shares of the company’s stock valued at $2,968,000 after acquiring an additional 249 shares in the last quarter. Finally, Holistic Financial Partners raised its holdings in shares of Carnival by 6.3% during the second quarter. Holistic Financial Partners now owns 4,588 shares of the company’s stock valued at $214,000 after acquiring an additional 272 shares in the last quarter. 75.20% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the company. Stifel Nicolaus decreased their target price on Carnival from $62.00 to $54.00 and set a “buy” rating for the company in a report on Friday, September 27th. HSBC downgraded Carnival from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $68.00 to $43.00 in a report on Monday, October 7th. SunTrust Banks cut their target price on Carnival to $58.00 in a research note on Friday, September 27th. Barclays set a $47.00 target price on Carnival and gave the stock a “hold” rating in a research note on Friday, September 27th. Finally, Morgan Stanley dropped their price objective on Carnival from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. Carnival presently has a consensus rating of “Hold” and a consensus target price of $52.40.
Shares of CCL opened at $44.37 on Thursday. The business’s 50 day moving average is $43.64 and its 200 day moving average is $47.58. The company has a market capitalization of $23.30 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 1.03 and a beta of 1.11. Carnival Corp has a 12-month low of $39.92 and a 12-month high of $62.52. The company has a current ratio of 0.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.35.
Carnival (NYSE:CCL) last issued its earnings results on Thursday, September 26th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. The company had revenue of $6.53 billion for the quarter, compared to the consensus estimate of $6.18 billion. Carnival had a return on equity of 12.67% and a net margin of 14.93%. Equities research analysts predict that Carnival Corp will post 4.27 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.51%. The ex-dividend date is Thursday, November 21st. Carnival’s dividend payout ratio is presently 46.95%.
In other Carnival news, Director Sir Jonathon Band sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $40.83, for a total transaction of $204,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 24.10% of the company’s stock.
Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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