Stewart & Patten Co. LLC lifted its stake in shares of Carnival Corporation (NYSE:CCL) by 4.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 138,301 shares of the company’s stock after acquiring an additional 5,603 shares during the period. Carnival Corporation makes up 1.6% of Stewart & Patten Co. LLC’s investment portfolio, making the stock its 26th biggest position. Stewart & Patten Co. LLC’s holdings in Carnival Corporation were worth $8,930,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of CCL. FMR LLC lifted its holdings in shares of Carnival Corporation by 8.0% during the 1st quarter. FMR LLC now owns 226,744 shares of the company’s stock worth $13,358,000 after acquiring an additional 16,719 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of Carnival Corporation by 11.1% during the 1st quarter. Thrivent Financial For Lutherans now owns 16,330 shares of the company’s stock worth $962,000 after acquiring an additional 1,630 shares during the last quarter. United Capital Financial Advisers LLC bought a new stake in shares of Carnival Corporation during the 1st quarter worth $301,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Carnival Corporation during the 1st quarter worth $276,000. Finally, Tudor Investment Corp ET AL lifted its holdings in shares of Carnival Corporation by 303.3% during the 1st quarter. Tudor Investment Corp ET AL now owns 75,109 shares of the company’s stock worth $4,425,000 after acquiring an additional 56,487 shares during the last quarter. 77.87% of the stock is owned by institutional investors.
A number of research firms have recently issued reports on CCL. Zacks Investment Research raised shares of Carnival Corporation from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Wednesday, July 12th. UBS AG reaffirmed a “buy” rating and set a $76.00 price objective (up from $67.00) on shares of Carnival Corporation in a report on Thursday, August 17th. BidaskClub raised shares of Carnival Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Credit Suisse Group reissued a “neutral” rating on shares of Carnival Corporation in a research note on Thursday, September 28th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $73.20 price target on shares of Carnival Corporation in a research note on Monday, July 24th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Carnival Corporation currently has an average rating of “Buy” and an average target price of $67.43.
In other news, CEO Arnold W. Donald sold 90,903 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $67.41, for a total value of $6,127,771.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 23.80% of the company’s stock.
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Shares of Carnival Corporation (NYSE CCL) traded up 0.432% during trading on Tuesday, hitting $66.305. 1,360,045 shares of the company traded hands. The company has a market capitalization of $47.81 billion, a price-to-earnings ratio of 18.032 and a beta of 0.71. Carnival Corporation has a 52 week low of $47.06 and a 52 week high of $69.89. The company has a 50 day moving average price of $66.07 and a 200 day moving average price of $65.27.
Carnival Corporation (NYSE:CCL) last announced its quarterly earnings data on Tuesday, September 26th. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.09. Carnival Corporation had a net margin of 15.53% and a return on equity of 12.15%. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the business posted $1.92 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts expect that Carnival Corporation will post $3.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be issued a dividend of $0.45 per share. This is a positive change from Carnival Corporation’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.73%. Carnival Corporation’s dividend payout ratio (DPR) is presently 43.72%.
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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