SRB Corp increased its position in shares of Carnival Corp (NYSE:CCL) by 29.9% in the 1st quarter, HoldingsChannel reports. The fund owned 12,477 shares of the company’s stock after acquiring an additional 2,869 shares during the period. SRB Corp’s holdings in Carnival were worth $633,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CCL. Nuveen Asset Management LLC grew its position in Carnival by 0.5% during the 4th quarter. Nuveen Asset Management LLC now owns 34,308 shares of the company’s stock worth $1,691,000 after purchasing an additional 179 shares during the last quarter. Avestar Capital LLC grew its position in Carnival by 13.9% during the 1st quarter. Avestar Capital LLC now owns 1,609 shares of the company’s stock worth $77,000 after purchasing an additional 196 shares during the last quarter. Manchester Capital Management LLC grew its position in Carnival by 9.7% during the 1st quarter. Manchester Capital Management LLC now owns 2,265 shares of the company’s stock worth $115,000 after purchasing an additional 200 shares during the last quarter. Commonwealth Bank of Australia grew its position in Carnival by 0.3% during the 1st quarter. Commonwealth Bank of Australia now owns 71,898 shares of the company’s stock worth $3,639,000 after purchasing an additional 200 shares during the last quarter. Finally, Hanson McClain Inc. grew its position in Carnival by 16.4% during the 4th quarter. Hanson McClain Inc. now owns 1,424 shares of the company’s stock worth $70,000 after purchasing an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 74.98% of the company’s stock.
NYSE CCL traded up $0.02 during mid-day trading on Friday, reaching $52.87. 544,344 shares of the stock were exchanged, compared to its average volume of 2,943,430. Carnival Corp has a 1 year low of $45.64 and a 1 year high of $67.69. The company has a market capitalization of $27.85 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.12 and a beta of 1.23. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.22.
Carnival (NYSE:CCL) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.05. Carnival had a net margin of 16.03% and a return on equity of 12.30%. The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities analysts expect that Carnival Corp will post 4.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be given a dividend of $0.50 per share. 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 presently 46.95%.
Several analysts have recently commented on CCL shares. Nomura dropped their price objective on shares of Carnival from $66.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Buckingham Research downgraded shares of Carnival from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $65.00 to $54.00 in a report on Monday, April 15th. Goldman Sachs Group raised shares of Carnival from a “neutral” rating to a “buy” rating and upped their price objective for the company from $63.00 to $65.00 in a report on Wednesday, March 13th. Zacks Investment Research downgraded shares of Carnival from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Finally, Deutsche Bank reaffirmed a “hold” rating and issued a $59.00 price objective on shares of Carnival in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price 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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