NGAM Advisors L.P. raised its stake in Carnival Corporation (NYSE:CCL) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 235,207 shares of the company’s stock after buying an additional 7,818 shares during the period. NGAM Advisors L.P.’s holdings in Carnival Corporation were worth $15,423,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Sumitomo Life Insurance Co. boosted its stake in Carnival Corporation by 4.4% in the second quarter. Sumitomo Life Insurance Co. now owns 24,205 shares of the company’s stock valued at $1,587,000 after buying an additional 1,019 shares during the last quarter. Shell Asset Management Co. boosted its stake in Carnival Corporation by 13.3% in the second quarter. Shell Asset Management Co. now owns 32,790 shares of the company’s stock valued at $2,150,000 after buying an additional 3,851 shares during the last quarter. Meridian Wealth Management LLC purchased a new stake in Carnival Corporation during the second quarter valued at $265,000. Parkwood LLC purchased a new stake in Carnival Corporation during the second quarter valued at $304,000. Finally, Paragon Capital Management Ltd boosted its stake in Carnival Corporation by 4.5% in the second quarter. Paragon Capital Management Ltd now owns 10,526 shares of the company’s stock valued at $690,000 after buying an additional 453 shares during the last quarter. Institutional investors own 78.82% of the company’s stock.
Shares of Carnival Corporation (CCL) traded up 0.15% during trading on Friday, reaching $67.48. The company’s stock had a trading volume of 3,320,388 shares. Carnival Corporation has a one year low of $44.11 and a one year high of $68.87. The company has a market capitalization of $48.86 billion, a price-to-earnings ratio of 17.85 and a beta of 0.75. The firm’s 50-day moving average price is $66.57 and its 200-day moving average price is $61.19.
Carnival Corporation (NYSE:CCL) last posted its quarterly earnings results on Thursday, June 22nd. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.89 billion. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. Carnival Corporation’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. On average, equities analysts anticipate that Carnival Corporation will post $3.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.37%. Carnival Corporation’s payout ratio is presently 42.55%.
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Several equities analysts have weighed in on CCL shares. Instinet boosted their price objective on Carnival Corporation from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, June 23rd. Bank of America Corporation restated a “buy” rating and set a $73.20 price objective on shares of Carnival Corporation in a research report on Monday, July 24th. BidaskClub lowered Carnival Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. William Blair reiterated an “outperform” rating on shares of Carnival Corporation in a research report on Friday, June 9th. Finally, Zacks Investment Research upgraded Carnival Corporation from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $62.06.
In other news, insider Alan Buckelew sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $67.02, for a total value of $1,005,300.00. Following the sale, the insider now directly owns 150,860 shares of the company’s stock, valued at approximately $10,110,637.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.80% of the stock is owned by insiders.
Carnival Corporation 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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