Pictet Asset Management Ltd. Increases Holdings in Carnival Corporation (CCL)

Pictet Asset Management Ltd. raised its holdings in shares of Carnival Corporation (NYSE:CCL) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 887,138 shares of the company’s stock after purchasing an additional 31,632 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.12% of Carnival Corporation worth $57,282,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Almanack Investment Partners LLC. acquired a new stake in shares of Carnival Corporation during the second quarter worth $117,000. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Carnival Corporation during the first quarter worth $138,000. Harbour Capital Advisors LLC acquired a new stake in shares of Carnival Corporation during the first quarter worth $147,000. Bessemer Group Inc. lifted its holdings in shares of Carnival Corporation by 109.4% during the second quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock worth $171,000 after buying an additional 1,368 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC lifted its holdings in shares of Carnival Corporation by 1.4% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock worth $191,000 after buying an additional 40 shares in the last quarter. 77.87% of the stock is owned by institutional investors and hedge funds.

Carnival Corporation (NYSE:CCL) opened at 66.39 on Wednesday. The company has a market cap of $47.87 billion, a PE ratio of 18.06 and a beta of 0.71. The firm has a 50-day moving average price of $66.04 and a 200-day moving average price of $65.27. Carnival Corporation has a 52-week low of $48.00 and a 52-week high of $69.89.

Carnival Corporation (NYSE:CCL) last released its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share for the quarter, beating the 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 analysts’ expectations of $5.39 billion. During the same quarter last year, the firm posted $1.92 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. On average, analysts forecast that Carnival Corporation will post $3.69 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.80 annualized dividend and a dividend yield of 2.71%. This is a boost from Carnival Corporation’s previous quarterly dividend of $0.40. Carnival Corporation’s dividend payout ratio (DPR) is presently 43.72%.

A number of research firms have recently weighed in on CCL. Zacks Investment Research raised Carnival Corporation from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a report on Tuesday, September 5th. UBS AG reissued a “buy” rating and set a $76.00 target price (up previously from $67.00) on shares of Carnival Corporation in a report on Thursday, August 17th. Credit Suisse Group downgraded Carnival Corporation from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $78.00 to $70.00 in a report on Friday, September 15th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Carnival Corporation in a report on Tuesday, August 15th. Finally, BidaskClub raised Carnival Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Carnival Corporation has an average rating of “Buy” and an average price target of $67.43.

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In other Carnival Corporation news, CEO Arnold W. Donald sold 90,903 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $67.41, for a total value of $6,127,771.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 23.80% of the company’s stock.

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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Institutional Ownership by Quarter for Carnival Corporation (NYSE:CCL)

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