TIAA CREF Investment Management LLC cut its stake in shares of Carnival Corp (NYSE:CCL) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,845,644 shares of the company’s stock after selling 67,156 shares during the quarter. TIAA CREF Investment Management LLC owned 0.53% of Carnival worth $188,865,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. SeaCrest Wealth Management LLC acquired a new position in shares of Carnival during the 4th quarter valued at $123,000. Grove Bank & Trust increased its stake in Carnival by 367.8% during the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock valued at $131,000 after purchasing an additional 1,600 shares in the last quarter. Focused Wealth Management Inc bought a new stake in shares of Carnival in the 4th quarter worth $133,000. Avestar Capital LLC purchased a new stake in shares of Carnival in the fourth quarter worth about $148,000. Finally, Delpha Capital Management LLC purchased a new stake in shares of Carnival in the fourth quarter worth about $173,000. Institutional investors and hedge funds own 76.73% of the company’s stock.
In other Carnival news, CEO Arnold W. Donald sold 5,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $64.49, for a total transaction of $322,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stein Kruse sold 21,602 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $69.11, for a total value of $1,492,914.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,722 shares of company stock valued at $6,444,993. 23.80% of the stock is owned by insiders.
Several brokerages have recently issued reports on CCL. Deutsche Bank raised their target price on shares of Carnival from $70.00 to $71.00 and gave the stock a “hold” rating in a report on Friday, March 23rd. JPMorgan Chase raised their price objective on Carnival from $75.00 to $77.00 and gave the company a “neutral” rating in a research report on Friday, March 23rd. Barclays upgraded Carnival from an “equal weight” rating to an “overweight” rating and set a $77.00 price target for the company in a report on Friday, March 23rd. Stifel Nicolaus lifted their price objective on Carnival from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, March 19th. Finally, Credit Suisse Group set a $80.00 price target on Carnival and gave the company a “buy” rating in a research note on Sunday, February 25th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Carnival presently has a consensus rating of “Buy” and a consensus price target of $74.33.
Shares of CCL stock opened at $64.51 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.14 and a debt-to-equity ratio of 0.31. Carnival Corp has a fifty-two week low of $57.39 and a fifty-two week high of $72.70. The stock has a market capitalization of $34,710.47, a PE ratio of 16.89, a PEG ratio of 1.05 and a beta of 0.84.
Carnival (NYSE:CCL) last released its earnings results on Thursday, March 22nd. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.09. Carnival had a return on equity of 11.97% and a net margin of 14.73%. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter last year, the business posted $0.38 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. research analysts anticipate that Carnival Corp will post 4.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.80 annualized dividend and a yield of 2.79%. Carnival’s dividend payout ratio (DPR) is 20.94%.
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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.
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