Sumitomo Life Insurance Co. raised its stake in shares of Carnival Corporation (NYSE:CCL) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,205 shares of the company’s stock after buying an additional 1,019 shares during the period. Sumitomo Life Insurance Co.’s holdings in Carnival Corporation were worth $1,587,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Lodestar Investment Counsel LLC IL increased its stake in shares of Carnival Corporation by 2.6% in the first quarter. Lodestar Investment Counsel LLC IL now owns 12,050 shares of the company’s stock worth $710,000 after buying an additional 300 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Carnival Corporation by 4.0% in the first quarter. Teachers Advisors LLC now owns 1,313,131 shares of the company’s stock worth $77,357,000 after buying an additional 50,283 shares during the period. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Carnival Corporation during the first quarter worth approximately $525,000. SG Americas Securities LLC raised its position in Carnival Corporation by 899.3% in the first quarter. SG Americas Securities LLC now owns 161,580 shares of the company’s stock valued at $9,519,000 after buying an additional 145,410 shares in the last quarter. Finally, AT Bancorp raised its position in Carnival Corporation by 28.3% in the first quarter. AT Bancorp now owns 19,423 shares of the company’s stock valued at $1,144,000 after buying an additional 4,283 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.
Shares of Carnival Corporation (CCL) opened at 67.46 on Friday. The company has a 50 day moving average price of $66.96 and a 200 day moving average price of $61.73. Carnival Corporation has a 52 week low of $44.11 and a 52 week high of $69.24. The company has a market capitalization of $48.84 billion, a PE ratio of 17.84 and a beta of 0.75.
Carnival Corporation (NYSE:CCL) last issued its quarterly earnings data on Thursday, June 22nd. The company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.89 billion. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 earnings per share. On average, equities research analysts expect 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. Shareholders of record on Friday, August 25th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $1.60 annualized dividend and a yield of 2.37%. Carnival Corporation’s payout ratio is presently 42.55%.
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CCL has been the topic of several recent analyst reports. ValuEngine upgraded Carnival Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 target price on shares of Carnival Corporation in a report on Friday, June 16th. Instinet lifted their target price on Carnival Corporation from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, June 23rd. HSBC Holdings plc restated a “buy” rating and issued a $71.00 price target (up from $65.00) on shares of Carnival Corporation in a report on Monday, June 26th. Finally, Zacks Investment Research upgraded Carnival Corporation from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Carnival Corporation currently has a consensus rating of “Buy” and a consensus target price of $62.49.
In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of the 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 transaction, the insider now directly owns 150,860 shares in the company, valued at $10,110,637.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.80% of the stock is currently owned by company 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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