Conning Inc. increased its position in shares of Carnival Corporation (NYSE:CCL) by 38.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,264 shares of the company’s stock after purchasing an additional 34,750 shares during the period. Conning Inc.’s holdings in Carnival Corporation were worth $8,088,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in Carnival Corporation by 2,540.0% during the third quarter. Assenagon Asset Management S.A. now owns 263,997 shares of the company’s stock worth $17,046,000 after purchasing an additional 253,997 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Carnival Corporation by 4.3% during the second quarter. Prudential Financial Inc. now owns 669,634 shares of the company’s stock valued at $43,908,000 after acquiring an additional 27,330 shares during the last quarter. Homrich & Berg acquired a new stake in shares of Carnival Corporation during the second quarter valued at about $272,000. Covenant Multifamily Offices LLC increased its position in shares of Carnival Corporation by 2.4% during the second quarter. Covenant Multifamily Offices LLC now owns 39,931 shares of the company’s stock valued at $2,618,000 after acquiring an additional 929 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Carnival Corporation by 14.7% during the second quarter. Victory Capital Management Inc. now owns 34,549 shares of the company’s stock valued at $2,265,000 after acquiring an additional 4,422 shares during the last quarter. Hedge funds and other institutional investors own 77.87% of the company’s stock.
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In other news, CEO Arnold W. Donald sold 90,903 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $67.41, for a total transaction of $6,127,771.23. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 23.80% of the stock is currently owned by company insiders.
A number of equities research analysts have weighed in on CCL shares. Zacks Investment Research upgraded shares of Carnival Corporation from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Tuesday, August 22nd. UBS AG reiterated a “buy” rating and set a $76.00 price target (up from $67.00) on shares of Carnival Corporation in a research report on Thursday, August 17th. Bank of America Corporation reiterated a “buy” rating and set a $73.20 price target on shares of Carnival Corporation in a research report on Monday, July 24th. BidaskClub cut shares of Carnival Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $79.00 price target (up from $74.00) on shares of Carnival Corporation in a research report on Wednesday, September 27th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Carnival Corporation has a consensus rating of “Buy” and an average price target of $67.43.
Shares of Carnival Corporation (CCL) traded down 0.03% during trading on Wednesday, reaching $66.37. 762,056 shares of the company’s stock traded hands. The company has a market capitalization of $47.85 billion, a price-to-earnings ratio of 18.05 and a beta of 0.71. The company has a 50 day moving average of $66.04 and a 200-day moving average of $65.27. Carnival Corporation has a 1-year low of $48.00 and a 1-year high of $69.89.
Carnival Corporation (NYSE:CCL) last issued its earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.09. Carnival Corporation had a return on equity of 12.15% and a net margin of 15.53%. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the company earned $1.92 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts predict that Carnival Corporation will post $3.69 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.71%. 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. Carnival Corporation’s dividend payout ratio (DPR) is 43.72%.
Carnival Corporation 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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