James Investment Research Inc. reduced its position in shares of Carnival Corp (NYSE:CCL) by 55.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,812 shares of the company’s stock after selling 31,485 shares during the period. James Investment Research Inc.’s holdings in Carnival were worth $1,646,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC increased its holdings in Carnival by 213.9% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 12,557 shares of the company’s stock worth $102,000 after purchasing an additional 8,557 shares during the period. Flagship Harbor Advisors LLC bought a new stake in Carnival during the 2nd quarter valued at $124,000. Mainstay Capital Management LLC ADV boosted its position in Carnival by 1,262.1% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,320 shares of the company’s stock valued at $125,000 after acquiring an additional 5,856 shares in the last quarter. Palo Capital Inc. bought a new stake in Carnival during the 3rd quarter valued at $189,000. Finally, TRUE Private Wealth Advisors bought a new stake in Carnival during the 3rd quarter valued at $199,000. Institutional investors own 76.42% of the company’s stock.
Carnival stock opened at $57.07 on Friday. The company has a quick ratio of 0.17, a current ratio of 0.22 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $30.07 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.96 and a beta of 1.01. Carnival Corp has a 1-year low of $53.47 and a 1-year high of $72.70.
Carnival (NYSE:CCL) last posted its quarterly earnings data on Thursday, September 27th. The company reported $2.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.32 by $0.04. The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.80 billion. Carnival had a return on equity of 12.30% and a net margin of 17.15%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 EPS. As a group, equities research analysts expect that Carnival Corp will post 4.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 23rd will be given a $0.50 dividend. The ex-dividend date is Wednesday, November 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.50%. Carnival’s payout ratio is 52.36%.
Several analysts have issued reports on CCL shares. Goldman Sachs Group set a $71.00 target price on Carnival and gave the company a “hold” rating in a research report on Tuesday, July 10th. Citigroup dropped their target price on Carnival from $79.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, August 8th. Zacks Investment Research cut Carnival from a “hold” rating to a “sell” rating in a research report on Monday, August 27th. Credit Suisse Group set a $75.00 target price on Carnival and gave the company a “buy” rating in a research report on Thursday, September 13th. Finally, ValuEngine raised Carnival from a “sell” rating to a “hold” rating in a research report on Friday, September 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $72.86.
In other news, General Counsel Arnaldo Perez sold 7,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $64.26, for a total value of $449,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.80% of the stock is owned by company insiders.
Carnival Company Profile
Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.
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