ING Groep NV Purchases New Position in Carnival Corporation (NYSE:CCL)
ING Groep NV purchased a new position in Carnival Corporation (NYSE:CCL) during the second quarter, Holdings Channel reports. The firm purchased 5,560 shares of the company’s stock, valued at approximately $365,000.
Other institutional investors also recently modified their holdings of the company. Gulf International Bank UK Ltd raised its position in shares of Carnival Corporation by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 111,038 shares of the company’s stock worth $6,541,000 after buying an additional 1,300 shares during the last quarter. Pennsylvania Trust Co raised its position in shares of Carnival Corporation by 2.4% in the first quarter. Pennsylvania Trust Co now owns 101,983 shares of the company’s stock worth $6,008,000 after buying an additional 2,370 shares during the last quarter. Gradient Investments LLC raised its position in shares of Carnival Corporation by 1.9% in the first quarter. Gradient Investments LLC now owns 112,148 shares of the company’s stock worth $6,607,000 after buying an additional 2,060 shares during the last quarter. Regentatlantic Capital LLC raised its position in shares of Carnival Corporation by 9.0% in the first quarter. Regentatlantic Capital LLC now owns 37,207 shares of the company’s stock worth $2,192,000 after buying an additional 3,086 shares during the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of Carnival Corporation by 3.1% in the first quarter. Capstone Asset Management Co. now owns 35,001 shares of the company’s stock worth $2,062,000 after buying an additional 1,060 shares during the last quarter. 78.82% of the stock is currently owned by hedge funds and other institutional investors.
Carnival Corporation (NYSE CCL) traded up 0.47% during trading on Wednesday, hitting $68.35. 2,453,211 shares of the stock traded hands. Carnival Corporation has a 52-week low of $44.11 and a 52-week high of $68.54. The stock has a 50 day moving average price of $66.35 and a 200-day moving average price of $60.78. The stock has a market cap of $49.49 billion, a P/E ratio of 18.08 and a beta of 0.75.
Carnival Corporation (NYSE:CCL) last released its quarterly earnings results on Thursday, June 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts anticipate that Carnival Corporation will post $3.74 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.35%. Carnival Corporation’s dividend payout ratio is currently 42.55%.
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CCL has been the topic of several recent research reports. UBS AG reaffirmed a “buy” rating and set a $67.00 target price on shares of Carnival Corporation in a report on Monday, April 17th. Wolfe Research raised shares of Carnival Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, May 25th. ValuEngine raised shares of Carnival Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Credit Suisse Group reissued an “outperform” rating and issued a $74.00 price target (up previously from $69.00) on shares of Carnival Corporation in a report on Saturday, June 3rd. Finally, William Blair reissued an “outperform” rating on shares of Carnival Corporation in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $62.06.
In related news, insider Alan Buckelew sold 15,000 shares of Carnival Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $67.02, for a total value of $1,005,300.00. Following the sale, the insider now owns 150,860 shares of the company’s stock, valued at approximately $10,110,637.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.80% of the stock is currently owned by company insiders.
About Carnival Corporation
Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.
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