A number of other analysts have also weighed in on CCL. Zacks Investment Research raised shares of Carnival from a hold rating to a buy rating and set a $77.00 price target for the company in a research note on Tuesday, August 29th. Credit Suisse Group lowered shares of Carnival from an outperform rating to a neutral rating and reduced their price target for the stock from $78.00 to $70.00 in a research note on Friday, September 15th. Susquehanna Bancshares upped their price target on shares of Carnival from $75.00 to $76.00 and gave the stock a positive rating in a research note on Monday, September 25th. Stifel Nicolaus reissued a buy rating and set a $79.00 target price (up from $74.00) on shares of Carnival in a research note on Wednesday, September 27th. Finally, Deutsche Bank reissued a hold rating and set a $61.00 target price (down from $62.00) on shares of Carnival in a research note on Wednesday, September 27th. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Carnival has a consensus rating of Buy and an average price target of $72.89.
Shares of Carnival (CCL) opened at $66.35 on Friday. The firm has a market cap of $47,520.00, a P/E ratio of 18.48, a PEG ratio of 1.19 and a beta of 0.73. Carnival has a one year low of $51.70 and a one year high of $69.89. The company has a quick ratio of 0.16, a current ratio of 0.18 and a debt-to-equity ratio of 0.29.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, November 22nd. This is a positive change from Carnival’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.71%. Carnival’s dividend payout ratio is currently 44.57%.
In other news, CEO Arnold W. Donald sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $68.00, for a total transaction of $408,000.00. Following the sale, the chief executive officer now owns 115,572 shares in the company, valued at $7,858,896. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arnold W. Donald sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $65.43, for a total transaction of $327,150.00. Following the sale, the chief executive officer now owns 115,572 shares in the company, valued at approximately $7,561,875.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,903 shares of company stock valued at $7,190,771. Company insiders own 23.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CCL. Bessemer Group Inc. raised its holdings in shares of Carnival by 109.4% during the second quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock valued at $171,000 after acquiring an additional 1,368 shares during the period. Blair William & Co. IL increased its stake in Carnival by 32.8% in the 2nd quarter. Blair William & Co. IL now owns 5,598 shares of the company’s stock valued at $367,000 after buying an additional 1,384 shares during the period. BB&T Securities LLC increased its stake in Carnival by 41.3% in the 2nd quarter. BB&T Securities LLC now owns 11,300 shares of the company’s stock valued at $741,000 after buying an additional 3,300 shares during the period. Federated Investors Inc. PA increased its stake in Carnival by 49.4% in the 2nd quarter. Federated Investors Inc. PA now owns 8,169 shares of the company’s stock valued at $536,000 after buying an additional 2,700 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Carnival by 14.7% in the 2nd quarter. Victory Capital Management Inc. now owns 34,549 shares of the company’s stock valued at $2,265,000 after buying an additional 4,422 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.
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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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