Comerica Bank Sells 4,962 Shares of Carnival Corporation (CCL)
Comerica Bank reduced its position in shares of Carnival Corporation (NYSE:CCL) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,394 shares of the company’s stock after selling 4,962 shares during the period. Comerica Bank’s holdings in Carnival Corporation were worth $6,892,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Pathstone Family Office LLC boosted its position in shares of Carnival Corporation by 200.0% during the second quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock worth $2,493,000 after buying an additional 38 shares during the period. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Carnival Corporation during the second quarter worth about $289,000. Almanack Investment Partners LLC. acquired a new position in shares of Carnival Corporation during the second quarter worth about $117,000. Bessemer Group Inc. boosted its position in shares of Carnival Corporation by 109.4% during the second quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock worth $171,000 after buying an additional 1,368 shares during the period. Finally, Smithfield Trust Co. boosted its position in shares of Carnival Corporation by 826.2% during the third quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock worth $182,000 after buying an additional 2,520 shares during the period. 76.71% of the stock is owned by institutional investors.
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In other news, CEO Arnold W. Donald sold 5,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $65.43, for a total transaction of $327,150.00. Following the transaction, the chief executive officer now owns 115,572 shares in the company, valued at $7,561,875.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 23.80% of the stock is currently owned by company insiders.
Several research analysts have recently weighed in on the company. Instinet reaffirmed a “buy” rating and set a $75.00 price objective on shares of Carnival Corporation in a research report on Monday, October 2nd. Nomura reaffirmed a “buy” rating and set a $75.00 price objective on shares of Carnival Corporation in a research report on Friday, September 29th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Carnival Corporation in a research report on Thursday, September 28th. Argus reaffirmed a “neutral” rating and set a $67.00 price objective (down from $78.00) on shares of Carnival Corporation in a research report on Thursday, September 28th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $61.00 price objective (down from $62.00) on shares of Carnival Corporation in a research report on Wednesday, September 27th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Carnival Corporation presently has an average rating of “Buy” and an average price target of $67.43.
Shares of Carnival Corporation (NYSE CCL) opened at $66.22 on Monday. Carnival Corporation has a 52-week low of $49.73 and a 52-week high of $69.89. The stock has a market capitalization of $47,450.00, a P/E ratio of 17.16, a PEG ratio of 1.35 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.21 and a quick ratio of 0.16.
Carnival Corporation (NYSE:CCL) last released its quarterly earnings data on Tuesday, September 26th. The company reported $2.29 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the firm posted $1.92 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. sell-side analysts anticipate that Carnival Corporation will post 3.7 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.72%. This is a positive change from Carnival Corporation’s previous quarterly dividend of $0.40. Carnival Corporation’s dividend payout ratio (DPR) is 43.60%.
Carnival Corporation Profile
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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