Renaissance Group LLC Buys 1,174 Shares of Carnival Corporation (CCL)
Renaissance Group LLC raised its stake in Carnival Corporation (NYSE:CCL) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 564,782 shares of the company’s stock after acquiring an additional 1,174 shares during the period. Carnival Corporation makes up 1.3% of Renaissance Group LLC’s portfolio, making the stock its 14th biggest position. Renaissance Group LLC owned approximately 0.11% of Carnival Corporation worth $36,468,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Willingdon Wealth Management boosted its position in shares of Carnival Corporation by 10.2% during the third quarter. Willingdon Wealth Management now owns 13,220 shares of the company’s stock valued at $854,000 after buying an additional 1,223 shares during the last quarter. Cipher Capital LP purchased a new stake in shares of Carnival Corporation during the third quarter valued at $1,425,000. Macquarie Group Ltd. boosted its position in shares of Carnival Corporation by 4.0% during the third quarter. Macquarie Group Ltd. now owns 131,199 shares of the company’s stock valued at $8,471,000 after buying an additional 5,079 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Carnival Corporation by 38.9% during the third quarter. SG Americas Securities LLC now owns 123,396 shares of the company’s stock valued at $7,968,000 after buying an additional 34,581 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Carnival Corporation during the third quarter valued at $1,584,000. 76.71% of the stock is currently owned by hedge funds and other institutional investors.
Carnival Corporation (CCL) traded up $0.97 during midday trading on Tuesday, hitting $67.10. The stock had a trading volume of 1,344,904 shares, compared to its average volume of 3,170,328. 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 has a 1 year low of $49.73 and a 1 year high of $69.89. The company has a market capitalization of $47,320.00, a P/E ratio of 17.16, a P/E/G ratio of 1.35 and a beta of 0.74.
Carnival Corporation (NYSE:CCL) last posted its quarterly earnings data on Tuesday, September 26th. The company reported $2.29 EPS for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the company earned $1.92 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. analysts forecast that Carnival Corporation will post 3.7 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be paid a $0.45 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $1.80 annualized dividend and a dividend yield of 2.68%. This is an increase from Carnival Corporation’s previous quarterly dividend of $0.40. Carnival Corporation’s dividend payout ratio (DPR) is 43.60%.
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Several research firms recently commented on CCL. Zacks Investment Research raised Carnival Corporation from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research report on Tuesday, September 5th. UBS AG reaffirmed a “buy” rating and set a $76.00 price objective (up from $67.00) on shares of Carnival Corporation in a research report on Thursday, August 17th. Credit Suisse Group cut Carnival Corporation from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $78.00 to $70.00 in a research report on Friday, September 15th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Carnival Corporation in a research report on Tuesday, August 15th. Finally, BidaskClub raised Carnival Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $67.43.
In related news, CEO Arnold W. Donald sold 90,903 shares of Carnival Corporation stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $67.41, for a total transaction of $6,127,771.23. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Arnold W. Donald sold 5,000 shares of Carnival Corporation stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $65.43, for a total value of $327,150.00. Following the sale, the chief executive officer now directly owns 115,572 shares in the company, valued at approximately $7,561,875.96. The disclosure for this sale can be found here. 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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