Platinum Investment Management Ltd. Sells 302,138 Shares of Carnival Corporation (CCL)
Platinum Investment Management Ltd. lowered its position in shares of Carnival Corporation (NYSE:CCL) by 33.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 592,831 shares of the company’s stock after selling 302,138 shares during the quarter. Carnival Corporation makes up about 1.1% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 24th largest position. Platinum Investment Management Ltd. owned approximately 0.08% of Carnival Corporation worth $38,871,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CCL. Blair William & Co. IL raised its position in shares of Carnival Corporation by 1.7% during the first quarter. Blair William & Co. IL now owns 4,214 shares of the company’s stock worth $241,000 after acquiring an additional 72 shares during the last quarter. Credit Agricole S A raised its position in shares of Carnival Corporation by 17.8% during the first quarter. Credit Agricole S A now owns 148,004 shares of the company’s stock worth $8,718,000 after acquiring an additional 22,373 shares during the last quarter. Knights of Columbus Asset Advisors LLC bought a new stake in shares of Carnival Corporation during the first quarter worth $1,202,000. CFO4Life Group LLC bought a new stake in shares of Carnival Corporation during the first quarter worth $452,000. Finally, Principal Financial Group Inc. raised its position in shares of Carnival Corporation by 1.5% during the first quarter. Principal Financial Group Inc. now owns 589,967 shares of the company’s stock worth $34,755,000 after acquiring an additional 8,834 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.
In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the completion of the sale, the insider now directly owns 150,860 shares in the company, valued at approximately $10,110,637.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 23.80% of the company’s stock.
Carnival Corporation (NYSE CCL) traded down 0.42% on Friday, reaching $65.63. The company’s stock had a trading volume of 3,411,448 shares. The stock has a market cap of $47.32 billion, a price-to-earnings ratio of 17.85 and a beta of 0.71. Carnival Corporation has a 52-week low of $45.92 and a 52-week high of $69.89. The firm’s 50-day moving average price is $66.47 and its 200-day moving average price is $64.22.
Carnival Corporation (NYSE:CCL) last issued its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.09. Carnival Corporation had a return on equity of 12.15% and a net margin of 15.53%. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the business posted $1.92 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. On average, equities analysts expect that Carnival Corporation will post $3.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.44%. Carnival Corporation’s payout ratio is currently 43.72%.
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A number of equities research analysts have recently weighed in on CCL shares. Stifel Nicolaus restated a “buy” rating and set a $68.00 target price on shares of Carnival Corporation in a research report on Friday, June 16th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $57.00 target price (up previously from $55.00) on shares of Carnival Corporation in a research report on Tuesday, June 20th. Instinet boosted their target price on Carnival Corporation from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, June 23rd. Deutsche Bank AG restated a “hold” rating and set a $62.00 target price (up previously from $58.00) on shares of Carnival Corporation in a research report on Sunday, June 25th. Finally, Wedbush restated a “neutral” rating and set a $66.00 target price (up previously from $61.00) on shares of Carnival Corporation in a research report on Sunday, June 25th. Nine analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Carnival Corporation has an average rating of “Buy” and a consensus price target of $65.60.
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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