Insider Selling: Carnival Corp. (CCL) CFO Sells $198,195.40 in Stock
Carnival Corp. (NYSE:CCL) CFO David Bernstein sold 4,030 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $49.18, for a total transaction of $198,195.40. Following the transaction, the chief financial officer now owns 47,256 shares in the company, valued at $2,324,050.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Carnival Corp. (NYSE:CCL) opened at 47.51 on Tuesday. The company has a 50-day moving average of $47.08 and a 200 day moving average of $47.78. The firm has a market cap of $34.68 billion, a P/E ratio of 14.77 and a beta of 0.80. Carnival Corp. has a 52 week low of $40.52 and a 52 week high of $55.77.
Carnival Corp. (NYSE:CCL) last issued its earnings results on Monday, September 26th. The company reported $1.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.03. Carnival Corp. had a return on equity of 10.76% and a net margin of 15.10%. The firm had revenue of $5.10 billion for the quarter. During the same period in the prior year, the business earned $1.75 earnings per share. Carnival Corp.’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts predict that Carnival Corp. will post $8.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 26th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Wednesday, August 24th. Carnival Corp.’s dividend payout ratio is presently 42.94%.
Large investors have recently modified their holdings of the company. Advisory Services Network LLC raised its stake in shares of Carnival Corp. by 18.7% in the third quarter. Advisory Services Network LLC now owns 7,761 shares of the company’s stock valued at $379,000 after buying an additional 1,220 shares in the last quarter. Bremer Trust National Association bought a new stake in shares of Carnival Corp. during the third quarter valued at $1,624,000. Private Asset Management Inc. raised its stake in shares of Carnival Corp. by 48.8% in the third quarter. Private Asset Management Inc. now owns 11,000 shares of the company’s stock valued at $537,000 after buying an additional 3,610 shares in the last quarter. Telemus Capital LLC raised its stake in shares of Carnival Corp. by 14.8% in the third quarter. Telemus Capital LLC now owns 5,857 shares of the company’s stock valued at $286,000 after buying an additional 757 shares in the last quarter. Finally, New England Research & Management Inc. raised its stake in shares of Carnival Corp. by 100.0% in the third quarter. New England Research & Management Inc. now owns 10,200 shares of the company’s stock valued at $498,000 after buying an additional 5,100 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.
CCL has been the topic of a number of analyst reports. Bank of America Corp. set a $53.40 price objective on shares of Carnival Corp. and gave the company a “buy” rating in a research report on Wednesday, September 21st. Morgan Stanley lowered shares of Carnival Corp. from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $54.00 to $48.00 in a research report on Friday, September 2nd. Wells Fargo & Co. reiterated an “outperform” rating on shares of Carnival Corp. in a research report on Thursday, June 30th. Zacks Investment Research upgraded shares of Carnival Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. Finally, Sanford C. Bernstein initiated coverage on shares of Carnival Corp. in a research report on Thursday, September 8th. They issued a “market perform” rating and a $51.00 price objective on the stock. One investment 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. Carnival Corp. has an average rating of “Buy” and an average target price of $55.92.
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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