Perella Weinberg Partners Capital Management LP increased its holdings in shares of Carnival Corp (NYSE:CCL) by 16.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,874 shares of the company’s stock after purchasing an additional 1,944 shares during the quarter. Perella Weinberg Partners Capital Management LP’s holdings in Carnival were worth $885,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hutchinson Capital Management CA grew its position in Carnival by 1.8% in the 3rd quarter. Hutchinson Capital Management CA now owns 240,559 shares of the company’s stock valued at $15,341,000 after acquiring an additional 4,361 shares in the last quarter. Financial Counselors Inc. grew its position in Carnival by 8.0% in the 3rd quarter. Financial Counselors Inc. now owns 148,375 shares of the company’s stock valued at $9,462,000 after acquiring an additional 11,024 shares in the last quarter. Perpetual Ltd acquired a new position in Carnival in the 3rd quarter valued at about $230,000. Roof Advisory Group Inc. acquired a new position in Carnival in the 3rd quarter valued at about $815,000. Finally, Nissay Asset Management Corp Japan ADV grew its position in Carnival by 2.9% in the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 61,454 shares of the company’s stock valued at $3,919,000 after acquiring an additional 1,747 shares in the last quarter. 76.18% of the stock is owned by institutional investors.
Several research firms have weighed in on CCL. Zacks Investment Research raised Carnival from a “sell” rating to a “hold” rating in a research report on Thursday, September 20th. Goldman Sachs Group set a $70.00 target price on Carnival and gave the company a “hold” rating in a research report on Monday, September 24th. Bank of America set a $78.00 target price on Carnival and gave the company a “buy” rating in a research report on Wednesday, September 26th. Macquarie set a $55.00 target price on Carnival and gave the company a “sell” rating in a research report on Friday, September 28th. Finally, ValuEngine raised Carnival from a “sell” rating to a “hold” rating in a research report on Friday, September 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.86.
In other news, General Counsel Arnaldo Perez sold 7,000 shares of Carnival stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $64.26, for a total value of $449,820.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 23.80% of the company’s stock.
Shares of CCL opened at $57.07 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.22 and a quick ratio of 0.17. The stock has a market capitalization of $30.07 billion, a PE ratio of 14.94, a P/E/G 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 announced its quarterly earnings data on Thursday, September 27th. The company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.04. The business 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% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 EPS. As a group, sell-side analysts expect that Carnival Corp will post 4.25 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 23rd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Wednesday, November 21st. Carnival’s payout ratio is presently 52.36%.
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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