First Citizens Bank & Trust Co. Sells 17,003 Shares of Carnival Corp. (CCL)
First Citizens Bank & Trust Co. lowered its position in Carnival Corp. (NYSE:CCL) by 8.0% during the second quarter, Holdings Channel reports. The institutional investor owned 196,448 shares of the company’s stock after selling 17,003 shares during the period. First Citizens Bank & Trust Co.’s holdings in Carnival Corp. were worth $8,683,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Orbis Allan Gray Ltd bought a new stake in Carnival Corp. during the first quarter worth $104,294,000. AXA raised its stake in Carnival Corp. by 0.4% in the first quarter. AXA now owns 67,100 shares of the company’s stock worth $3,541,000 after buying an additional 300 shares in the last quarter. Sterling Ridge Capital Management LP raised its stake in Carnival Corp. by 23.2% in the first quarter. Sterling Ridge Capital Management LP now owns 64,833 shares of the company’s stock worth $3,421,000 after buying an additional 12,195 shares in the last quarter. Mariner Wealth Advisors LLC bought a new stake in Carnival Corp. during the first quarter worth $400,000. Finally, Mitra Capital LLC bought a new stake in Carnival Corp. during the first quarter worth $7,506,000. Institutional investors own 77.99% of the company’s stock.
Shares of Carnival Corp. (NYSE:CCL) traded down 2.03% on Friday, reaching $47.84. 3,940,828 shares of the company were exchanged. Carnival Corp. has a 52-week low of $40.52 and a 52-week high of $55.77. The stock has a 50 day moving average of $47.03 and a 200-day moving average of $47.81. The company has a market capitalization of $34.92 billion, a P/E ratio of 14.88 and a beta of 0.80.
Carnival Corp. (NYSE:CCL) last announced its quarterly earnings results on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. Carnival Corp. had a net margin of 15.10% and a return on equity of 10.76%. The firm earned $5.10 billion during the quarter. During the same period last year, the firm earned $1.75 earnings per share. Carnival Corp.’s revenue was up 4.4% on a year-over-year basis. On average, analysts predict that Carnival Corp. will post $8.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 26th were given a $0.35 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $1.40 dividend on an annualized basis and a yield of 2.87%. Carnival Corp.’s dividend payout ratio (DPR) is presently 42.94%.
CCL has been the subject of a number of analyst reports. Bank of America Corp. set a $53.40 target price on Carnival Corp. and gave the stock a “buy” rating in a report on Wednesday, September 21st. Morgan Stanley lowered Carnival Corp. from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $54.00 to $48.00 in a report on Friday, September 2nd. Macquarie started coverage on Carnival Corp. in a report on Tuesday. They set a “neutral” rating and a $55.00 price objective for the company. Wells Fargo & Co. reiterated a “buy” rating on shares of Carnival Corp. in a report on Wednesday, September 28th. Finally, HSBC started coverage on Carnival Corp. in a report on Monday. They set a “buy” rating and a $60.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Carnival Corp. has an average rating of “Buy” and an average price target of $55.92.
In other news, CFO David Bernstein sold 4,030 shares of the company’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $49.18, for a total value of $198,195.40. Following the completion of the sale, the chief financial officer now directly owns 47,256 shares of the company’s stock, valued at $2,324,050.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.00% of the stock is currently owned by corporate insiders.
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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