Mackay Shields LLC decreased its position in Carnival Corp (NYSE:CCL) by 22.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 96,889 shares of the company’s stock after selling 28,447 shares during the period. Mackay Shields LLC’s holdings in Carnival were worth $4,235,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Manchester Financial Inc. acquired a new position in shares of Carnival in the 2nd quarter valued at $26,000. Doyle Wealth Management acquired a new position in shares of Carnival in the 2nd quarter valued at $26,000. Lenox Wealth Advisors LLC acquired a new position in shares of Carnival in the 3rd quarter valued at $28,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Carnival in the 2nd quarter valued at $29,000. Finally, First Command Financial Services Inc. boosted its stake in Carnival by 74.8% in the 3rd quarter. First Command Financial Services Inc. now owns 701 shares of the company’s stock worth $31,000 after purchasing an additional 300 shares during the period. 75.20% of the stock is owned by institutional investors.
NYSE:CCL remained flat at $$45.05 on Friday. 2,686,600 shares of the company’s stock traded hands, compared to its average volume of 4,154,623. The business has a 50 day simple moving average of $43.50 and a 200-day simple moving average of $47.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.25 and a current ratio of 0.30. Carnival Corp has a 52-week low of $39.92 and a 52-week high of $62.52. The stock has a market capitalization of $23.64 billion, a P/E ratio of 10.58, a P/E/G ratio of 1.05 and a beta of 1.11.
Carnival (NYSE:CCL) last issued its quarterly earnings results on Thursday, September 26th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. Carnival had a net margin of 14.93% and a return on equity of 12.67%. The firm had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Research analysts anticipate that Carnival Corp will post 4.27 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.00 annualized dividend and a yield of 4.44%. Carnival’s dividend payout ratio (DPR) is presently 46.95%.
In other Carnival news, Director Sir Jonathon Band sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $40.83, for a total transaction of $204,150.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 24.10% of the company’s stock.
A number of equities analysts recently weighed in on CCL shares. Citigroup reduced their target price on shares of Carnival from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Barclays set a $47.00 target price on shares of Carnival and gave the stock a “hold” rating in a research note on Friday, September 27th. Stifel Nicolaus reduced their target price on shares of Carnival from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Deutsche Bank set a $46.00 target price on shares of Carnival and gave the stock a “hold” rating in a research note on Friday, September 27th. Finally, Macquarie set a $53.00 target price on shares of Carnival and gave the stock a “buy” rating in a research note on Friday, September 27th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Carnival currently has a consensus rating of “Hold” and an average 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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