Boston Private Wealth LLC reduced its position in Carnival Corp (NYSE:CCL) by 22.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,695 shares of the company’s stock after selling 12,604 shares during the quarter. Boston Private Wealth LLC’s holdings in Carnival were worth $1,866,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sompo Japan Nipponkoa Asset Management CO. LTD. raised its position in Carnival by 10.6% during the 3rd quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 113,690 shares of the company’s stock valued at $4,969,000 after purchasing an additional 10,880 shares during the last quarter. Premier Asset Management LLC bought a new position in Carnival during the 3rd quarter valued at approximately $684,000. Synovus Financial Corp raised its position in Carnival by 11.2% during the 3rd quarter. Synovus Financial Corp now owns 48,703 shares of the company’s stock valued at $2,126,000 after purchasing an additional 4,905 shares during the last quarter. IFM Investors Pty Ltd raised its position in Carnival by 58.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 48,019 shares of the company’s stock valued at $2,099,000 after purchasing an additional 17,804 shares during the last quarter. Finally, American Assets Investment Management LLC raised its position in Carnival by 5.7% during the 3rd quarter. American Assets Investment Management LLC now owns 37,000 shares of the company’s stock valued at $1,617,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 75.20% of the company’s stock.
In related news, Director Sir Jonathon Band sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $40.83, for a total transaction of $204,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 24.10% of the stock is owned by company insiders.
CCL stock traded down $0.21 on Friday, reaching $44.84. 1,424,979 shares of the company traded hands, compared to its average volume of 4,120,992. Carnival Corp has a one year low of $39.92 and a one year high of $62.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.25. The company has a market cap of $23.64 billion, a P/E ratio of 10.53, a price-to-earnings-growth ratio of 1.05 and a beta of 1.11. The firm has a fifty day simple moving average of $43.57 and a 200-day simple moving average of $47.53.
Carnival (NYSE:CCL) last posted its quarterly earnings data on Thursday, September 26th. The company reported $2.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.53 by $0.10. Carnival had a return on equity of 12.67% and a net margin of 14.93%. The company had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.18 billion. On average, sell-side analysts forecast that Carnival Corp will post 4.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Thursday, November 21st. Carnival’s dividend payout ratio (DPR) is presently 46.95%.
A number of research analysts have commented on CCL shares. TheStreet lowered Carnival from a “b-” rating to a “c+” rating in a research report on Friday, October 11th. Buckingham Research lowered their price target on Carnival from $52.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. They noted that the move was a valuation call. Stifel Nicolaus lowered their price target on Carnival from $62.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Morgan Stanley decreased their target price on Carnival from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. Finally, Wedbush decreased their target price on Carnival from $50.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $52.40.
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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