Hayek Kallen Investment Management cut its stake in Carnival Corp (NYSE:CCL) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,539 shares of the company’s stock after selling 348 shares during the period. Hayek Kallen Investment Management’s holdings in Carnival were worth $1,422,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Manchester Financial Inc. purchased a new stake in Carnival during the 2nd quarter worth about $26,000. Doyle Wealth Management purchased a new stake in Carnival during the 2nd quarter worth about $26,000. Lenox Wealth Advisors LLC purchased a new stake in Carnival during the 3rd quarter worth about $28,000. Stonebridge Capital Advisors LLC purchased a new stake in Carnival during the 2nd quarter worth about $29,000. Finally, First Command Financial Services Inc. lifted its holdings in Carnival by 74.8% during the 3rd quarter. First Command Financial Services Inc. now owns 701 shares of the company’s stock worth $31,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 75.20% of the company’s stock.
CCL has been the subject of a number of recent analyst reports. Nomura decreased their price target on Carnival from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Buckingham Research decreased their price target on Carnival from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. They noted that the move was a valuation call. Stifel Nicolaus decreased their price target on Carnival from $62.00 to $54.00 and set a “buy” rating for the company in a report on Friday, September 27th. Berenberg Bank reaffirmed a “sell” rating on shares of Carnival in a report on Saturday, November 2nd. Finally, HSBC downgraded Carnival from a “buy” rating to a “hold” rating and decreased their price target for the stock from $68.00 to $43.00 in a report on Monday, October 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $52.40.
In related news, Director Sir Jonathon Band sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $40.83, for a total value of $204,150.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 24.10% of the company’s stock.
Shares of CCL remained flat at $$45.05 during midday trading on Friday. The stock had a trading volume of 2,686,600 shares, compared to its average volume of 4,154,623. The firm has a fifty day simple moving average of $43.50 and a 200-day simple moving average of $47.49. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.25. Carnival Corp has a twelve month low of $39.92 and a twelve month high of $62.52. The stock has a market cap of $23.64 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 1.05 and a beta of 1.11.
Carnival (NYSE:CCL) last posted its earnings results on Thursday, September 26th. The company reported $2.63 EPS for the quarter, topping the Zacks’ consensus estimate of $2.53 by $0.10. Carnival had a return on equity of 12.67% and a net margin of 14.93%. The business had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.18 billion. As a group, equities research analysts expect that Carnival Corp will post 4.27 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Thursday, November 21st. Carnival’s dividend payout ratio (DPR) is presently 46.95%.
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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