Barings LLC Invests $1.84 Million in Carnival Corp (CCL)

Barings LLC acquired a new position in shares of Carnival Corp (NYSE:CCL) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 27,745 shares of the company’s stock, valued at approximately $1,841,000.

Several other large investors also recently modified their holdings of the stock. Capital Growth Management LP bought a new position in Carnival in the third quarter valued at $65,539,000. APG Asset Management N.V. grew its position in Carnival by 60.6% in the third quarter. APG Asset Management N.V. now owns 2,313,508 shares of the company’s stock valued at $149,383,000 after purchasing an additional 872,800 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Carnival by 42.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,138,032 shares of the company’s stock valued at $138,054,000 after purchasing an additional 641,103 shares in the last quarter. Janus Henderson Group PLC grew its position in Carnival by 14.1% in the third quarter. Janus Henderson Group PLC now owns 3,525,084 shares of the company’s stock valued at $227,614,000 after purchasing an additional 436,941 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its position in Carnival by 188.5% in the third quarter. State of Wisconsin Investment Board now owns 526,536 shares of the company’s stock valued at $33,998,000 after purchasing an additional 344,051 shares in the last quarter. Institutional investors and hedge funds own 75.07% of the company’s stock.

Carnival Corp (NYSE:CCL) opened at $69.50 on Monday. Carnival Corp has a 12-month low of $54.75 and a 12-month high of $72.70. The company has a market cap of $49,460.00, a PE ratio of 19.36, a PEG ratio of 1.17 and a beta of 0.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.18 and a quick ratio of 0.14.

Carnival (NYSE:CCL) last announced its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. Carnival had a net margin of 14.88% and a return on equity of 11.78%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the firm posted $0.67 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. sell-side analysts expect that Carnival Corp will post 4.28 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 23rd will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, February 22nd. Carnival’s dividend payout ratio (DPR) is presently 32.03%.

CCL has been the subject of a number of analyst reports. Tigress Financial reaffirmed a “buy” rating on shares of Carnival in a research report on Friday, December 22nd. Deutsche Bank raised their target price on shares of Carnival to $70.00 and gave the company a “hold” rating in a research report on Wednesday, December 20th. Credit Suisse Group raised shares of Carnival from a “neutral” rating to an “outperform” rating and raised their target price for the company from $66.05 to $70.00 in a research report on Tuesday, January 9th. Morgan Stanley raised shares of Carnival from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $65.94 to $68.00 in a research report on Wednesday, December 6th. Finally, Wells Fargo & Co raised their target price on shares of Carnival from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $73.82.

In other news, CEO Stein Kruse sold 60,665 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total transaction of $4,039,682.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Arnaldo Perez sold 8,567 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $68.73, for a total transaction of $588,809.91. Following the sale, the general counsel now owns 32,365 shares of the company’s stock, valued at approximately $2,224,446.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 336,364 shares of company stock valued at $22,622,361. 23.80% of the stock is currently owned by corporate insiders.

COPYRIGHT VIOLATION WARNING: “Barings LLC Invests $1.84 Million in Carnival Corp (CCL)” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this news story can be read at https://www.dispatchtribunal.com/2018/02/19/barings-llc-invests-1-84-million-in-carnival-corp-ccl.html.

Carnival 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.

Want to see what other hedge funds are holding CCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carnival Corp (NYSE:CCL).

Institutional Ownership by Quarter for Carnival (NYSE:CCL)

Receive News & Ratings for Carnival Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply