Hutchinson Capital Management CA Sells 9,152 Shares of Carnival Corporation (NYSE:CCL)
Hutchinson Capital Management CA decreased its stake in Carnival Corporation (NYSE:CCL) by 2.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 362,419 shares of the company’s stock after selling 9,152 shares during the period. Carnival Corporation accounts for about 6.7% of Hutchinson Capital Management CA’s holdings, making the stock its largest position. Hutchinson Capital Management CA’s holdings in Carnival Corporation were worth $23,763,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Carnival Corporation by 2,672.9% in the first quarter. BlackRock Inc. now owns 27,919,132 shares of the company’s stock valued at $1,644,716,000 after buying an additional 26,912,293 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Carnival Corporation by 129.9% in the first quarter. Ameriprise Financial Inc. now owns 3,395,780 shares of the company’s stock valued at $201,341,000 after buying an additional 1,918,638 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Carnival Corporation by 6.5% in the first quarter. Bank of America Corp DE now owns 24,838,450 shares of the company’s stock valued at $1,463,234,000 after buying an additional 1,519,630 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Carnival Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 27,985,243 shares of the company’s stock valued at $1,648,612,000 after buying an additional 1,150,341 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Carnival Corporation by 657.0% in the second quarter. Acadian Asset Management LLC now owns 1,252,031 shares of the company’s stock valued at $82,095,000 after buying an additional 1,086,627 shares during the last quarter. 78.82% of the stock is currently owned by institutional investors and hedge funds.
Carnival Corporation (NYSE CCL) traded up 0.15% during midday trading on Friday, hitting $67.48. The stock had a trading volume of 3,320,388 shares. The company has a market cap of $48.86 billion, a PE ratio of 17.85 and a beta of 0.75. Carnival Corporation has a 52 week low of $44.11 and a 52 week high of $68.87. The stock’s 50 day moving average price is $66.62 and its 200-day moving average price is $61.29.
Carnival Corporation (NYSE:CCL) last released its quarterly earnings results on Thursday, June 22nd. The company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.89 billion. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. Equities research analysts predict that Carnival Corporation will post $3.74 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be given 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 2.37%. Carnival Corporation’s dividend payout ratio (DPR) is presently 42.55%.
CCL has been the topic of several research analyst reports. HSBC Holdings plc reaffirmed a “buy” rating and set a $71.00 price target (up previously from $65.00) on shares of Carnival Corporation in a research report on Monday, June 26th. Wedbush reaffirmed a “neutral” rating and set a $66.00 price target (up previously from $61.00) on shares of Carnival Corporation in a research report on Sunday, June 25th. Wolfe Research raised shares of Carnival Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 25th. Credit Suisse Group reaffirmed an “outperform” rating and set a $74.00 price target (up previously from $69.00) on shares of Carnival Corporation in a research report on Saturday, June 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Carnival Corporation in a research report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company. Carnival Corporation currently has an average rating of “Buy” and a consensus target price of $62.06.
In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 150,860 shares in the company, valued at $10,110,637.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. 23.80% of the stock is owned by 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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