Clearbridge Investments LLC cut its holdings in Carnival Corp (NYSE:CCL) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,660 shares of the company’s stock after selling 13,293 shares during the quarter. Clearbridge Investments LLC’s holdings in Carnival were worth $10,729,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in CCL. SeaCrest Wealth Management LLC acquired a new stake in Carnival during the fourth quarter worth approximately $123,000. Focused Wealth Management Inc acquired a new stake in Carnival during the fourth quarter worth approximately $133,000. Grove Bank & Trust boosted its position in Carnival by 367.8% during the third quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock worth $131,000 after acquiring an additional 1,600 shares during the last quarter. Delpha Capital Management LLC acquired a new stake in Carnival during the fourth quarter worth approximately $173,000. Finally, First Allied Advisory Services Inc. acquired a new stake in Carnival during the fourth quarter worth approximately $215,000. Institutional investors and hedge funds own 76.73% of the company’s stock.
In related news, CEO Arnold W. Donald sold 3,000 shares of Carnival stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $68.00, for a total transaction of $204,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stein Kruse sold 21,602 shares of Carnival stock in a transaction on Friday, January 12th. The stock was sold at an average price of $69.11, for a total transaction of $1,492,914.22. The disclosure for this sale can be found here. Insiders have sold a total of 93,722 shares of company stock worth $6,444,993 in the last ninety days. 23.80% of the stock is currently owned by insiders.
A number of analysts recently issued reports on CCL shares. Buckingham Research restated a “buy” rating and set a $84.00 target price (up previously from $80.00) on shares of Carnival in a research report on Wednesday, December 20th. Stifel Nicolaus increased their price target on shares of Carnival from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. SunTrust Banks reaffirmed a “buy” rating and set a $84.00 price target (up previously from $72.00) on shares of Carnival in a research note on Tuesday, December 19th. They noted that the move was a valuation call. ValuEngine raised shares of Carnival from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Carnival in a research note on Friday, December 22nd. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $74.33.
Shares of CCL stock traded down $1.00 during mid-day trading on Friday, reaching $64.51. The company’s stock had a trading volume of 3,312,409 shares, compared to its average volume of 3,555,626. Carnival Corp has a 12-month low of $57.39 and a 12-month high of $72.70. The company has a current ratio of 0.19, a quick ratio of 0.14 and a debt-to-equity ratio of 0.31. The company has a market cap of $34,459.44, a PE ratio of 16.89, a P/E/G ratio of 1.04 and a beta of 0.84.
Carnival (NYSE:CCL) last issued its earnings results on Thursday, March 22nd. The company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. Carnival had a net margin of 14.73% and a return on equity of 11.97%. 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 firm posted $0.38 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. equities research analysts expect that Carnival Corp will post 4.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, February 23rd were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, February 22nd. Carnival’s dividend payout ratio (DPR) is 20.94%.
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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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