Quantbot Technologies LP Takes Position in Carnival Corporation (CCL)

Quantbot Technologies LP purchased a new position in shares of Carnival Corporation (NYSE:CCL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,540 shares of the company’s stock, valued at approximately $1,584,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Almanack Investment Partners LLC. purchased a new stake in shares of Carnival during the 2nd quarter worth about $117,000. Bessemer Group Inc. lifted its stake in Carnival by 109.4% in the 2nd quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock valued at $171,000 after buying an additional 1,368 shares in the last quarter. Smithfield Trust Co. lifted its stake in Carnival by 826.2% in the 3rd quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock valued at $182,000 after buying an additional 2,520 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its stake in Carnival by 1.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after buying an additional 40 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Carnival by 8.0% in the 2nd quarter. Parallel Advisors LLC now owns 2,888 shares of the company’s stock valued at $193,000 after buying an additional 214 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors.

Shares of Carnival Corporation (CCL) traded up $1.25 during midday trading on Monday, hitting $67.25. 4,100,508 shares of the stock were exchanged, compared to its average volume of 3,166,712. Carnival Corporation has a fifty-two week low of $50.77 and a fifty-two week high of $69.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.21 and a quick ratio of 0.16. The firm has a market cap of $48,060.00, a P/E ratio of 17.10, a P/E/G ratio of 1.18 and a beta of 0.73.

Carnival (NYSE:CCL) last posted its earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.09. Carnival had a net margin of 15.53% and a return on equity of 12.15%. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm earned $1.92 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. equities research analysts forecast that Carnival Corporation will post 3.7 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.68%. The ex-dividend date is Wednesday, November 22nd. This is an increase from Carnival’s previous quarterly dividend of $0.40. Carnival’s dividend payout ratio (DPR) is 43.60%.

In related news, CEO Arnold W. Donald sold 5,000 shares of Carnival stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $65.43, for a total value of $327,150.00. Following the completion of the sale, the chief executive officer now owns 115,572 shares in the company, valued at approximately $7,561,875.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.80% of the stock is currently owned by company insiders.

CCL has been the topic of a number of research reports. Zacks Investment Research raised shares of Carnival from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Tuesday, September 5th. Credit Suisse Group lowered shares of Carnival from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $78.00 to $70.00 in a research note on Friday, September 15th. BidaskClub raised shares of Carnival from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Deutsche Bank reissued a “hold” rating and issued a $61.00 target price (down from $62.00) on shares of Carnival in a research note on Wednesday, September 27th. Finally, Goldman Sachs Group reissued a “neutral” rating on shares of Carnival in a research note on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Carnival presently has an average rating of “Buy” and a consensus price target of $67.71.

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About Carnival

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.

Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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