Carnival Corp. (CCL) Position Reduced by Cullen Frost Bankers Inc.
Cullen Frost Bankers Inc. decreased its position in Carnival Corp. (NYSE:CCL) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 449,690 shares of the company’s stock after selling 1,869 shares during the period. Cullen Frost Bankers Inc.’s holdings in Carnival Corp. were worth $19,876,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the company. Shufro Rose & Co. LLC raised its stake in shares of Carnival Corp. by 0.3% in the first quarter. Shufro Rose & Co. LLC now owns 29,450 shares of the company’s stock worth $1,554,000 after buying an additional 100 shares in the last quarter. Capital Analysts LLC raised its stake in shares of Carnival Corp. by 3.7% in the second quarter. Capital Analysts LLC now owns 3,316 shares of the company’s stock worth $147,000 after buying an additional 118 shares in the last quarter. Conning Inc. raised its stake in shares of Carnival Corp. by 1.1% in the second quarter. Conning Inc. now owns 10,914 shares of the company’s stock worth $482,000 after buying an additional 120 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of Carnival Corp. by 0.5% in the second quarter. Capstone Asset Management Co. now owns 31,681 shares of the company’s stock worth $1,400,000 after buying an additional 145 shares in the last quarter. Finally, Private Asset Management Inc. raised its stake in shares of Carnival Corp. by 3.1% in the second quarter. Private Asset Management Inc. now owns 7,390 shares of the company’s stock worth $327,000 after buying an additional 225 shares in the last quarter. 77.99% of the stock is owned by hedge funds and other institutional investors.
Carnival Corp. (NYSE:CCL) traded up 2.23% on Thursday, hitting $46.84. 4,370,218 shares of the stock traded hands. The stock has a market cap of $34.90 billion, a price-to-earnings ratio of 16.14 and a beta of 0.84. The company’s 50 day moving average price is $46.36 and its 200-day moving average price is $47.77. Carnival Corp. has a 52-week low of $40.52 and a 52-week high of $55.77.
Carnival Corp. (NYSE:CCL) last announced its quarterly earnings results on Tuesday, June 28th. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.10. The company earned $3.70 billion during the quarter. Carnival Corp. had a net margin of 14.00% and a return on equity of 10.37%. Carnival Corp.’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS. On average, analysts forecast that Carnival Corp. will post $8.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 26th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Wednesday, August 24th. Carnival Corp.’s dividend payout ratio (DPR) is currently 48.44%.
A number of analysts have commented on the company. Zacks Investment Research lowered Carnival Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 8th. Goldman Sachs Group Inc. boosted their target price on Carnival Corp. from $46.50 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 29th. Barclays PLC restated a “hold” rating and issued a $56.00 target price (down previously from $58.00) on shares of Carnival Corp. in a research note on Wednesday, June 29th. Nomura restated a “buy” rating and issued a $62.00 target price on shares of Carnival Corp. in a research note on Wednesday, June 29th. Finally, Tigress Financial upgraded Carnival Corp. from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Carnival Corp. has an average rating of “Buy” and a consensus target price of $57.16.
Carnival Corp. Company Profile
Carnival Corporation is a leisure travel company. The Company is a cruise company and provides vacations to cruise destinations throughout the world. The Company aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) segments.
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