The Manufacturers Life Insurance Company increased its position in shares of Carnival Corp (NYSE:CCL) by 12.2% in the 1st quarter, HoldingsChannel reports. The firm owned 441,482 shares of the company’s stock after purchasing an additional 48,078 shares during the period. The Manufacturers Life Insurance Company’s holdings in Carnival were worth $22,393,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Carnival by 87.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 543 shares of the company’s stock worth $27,000 after buying an additional 253 shares in the last quarter. Sontag Advisory LLC acquired a new stake in Carnival during the 4th quarter worth $35,000. Doyle Wealth Management acquired a new stake in Carnival during the 4th quarter worth $36,000. Berman Capital Advisors LLC bought a new position in shares of Carnival during the fourth quarter worth $39,000. Finally, Resources Investment Advisors Inc. boosted its position in shares of Carnival by 823.5% during the first quarter. Resources Investment Advisors Inc. now owns 942 shares of the company’s stock worth $48,000 after purchasing an additional 840 shares in the last quarter. Hedge funds and other institutional investors own 74.98% of the company’s stock.
NYSE CCL opened at $52.85 on Friday. The company has a quick ratio of 0.17, a current ratio of 0.22 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $27.85 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.12 and a beta of 1.23. Carnival Corp has a 12-month low of $45.64 and a 12-month high of $67.69.
Carnival (NYSE:CCL) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.31 billion. Carnival had a net margin of 16.03% and a return on equity of 12.30%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, research analysts forecast that Carnival Corp will post 4.53 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, May 23rd. Carnival’s dividend payout ratio is currently 46.95%.
Several brokerages have issued reports on CCL. Zacks Investment Research upgraded shares of Carnival from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Goldman Sachs Group upgraded shares of Carnival from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $65.00 in a research note on Wednesday, March 13th. Buckingham Research decreased their price target on shares of Carnival from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Nomura decreased their price target on shares of Carnival from $66.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Finally, ValuEngine lowered shares of Carnival from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $66.28.
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Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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