Gateway Investment Advisers LLC Cuts Holdings in Carnival Corp (CCL)
Gateway Investment Advisers LLC lessened its holdings in shares of Carnival Corp (NYSE:CCL) by 8.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 73,124 shares of the company’s stock after selling 6,516 shares during the period. Gateway Investment Advisers LLC’s holdings in Carnival were worth $4,853,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in Carnival by 2,540.0% during the third quarter. Assenagon Asset Management S.A. now owns 263,997 shares of the company’s stock worth $17,046,000 after purchasing an additional 253,997 shares during the period. New England Research & Management Inc. boosted its position in Carnival by 104.6% during the third quarter. New England Research & Management Inc. now owns 24,550 shares of the company’s stock worth $1,585,000 after purchasing an additional 12,550 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in Carnival during the third quarter worth about $12,791,000. Mackenzie Financial Corp bought a new position in Carnival during the third quarter worth about $3,096,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in Carnival by 42.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,138,032 shares of the company’s stock worth $138,054,000 after purchasing an additional 641,103 shares during the period. Hedge funds and other institutional investors own 75.93% of the company’s stock.
A number of brokerages have weighed in on CCL. Zacks Investment Research lowered shares of Carnival from a “hold” rating to a “sell” rating in a research report on Tuesday, November 28th. Credit Suisse Group reiterated a “neutral” rating on shares of Carnival in a research report on Thursday, September 28th. Deutsche Bank reiterated a “hold” rating and set a $61.00 target price (down previously from $62.00) on shares of Carnival in a research report on Wednesday, September 27th. Stifel Nicolaus increased their target price on shares of Carnival from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Finally, SunTrust Banks reiterated a “buy” rating and set a $84.00 target price (up previously from $72.00) on shares of Carnival in a research report on Tuesday, December 19th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Carnival presently has an average rating of “Buy” and a consensus target price of $72.78.
Carnival (NYSE:CCL) last announced its quarterly earnings results on Tuesday, December 19th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.12. Carnival had a net margin of 14.88% and a return on equity of 11.78%. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the firm posted $0.67 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. research analysts predict that Carnival Corp will post 4.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, February 23rd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Thursday, February 22nd. Carnival’s dividend payout ratio is currently 44.57%.
In related news, CEO Arnold W. Donald sold 5,000 shares of the firm’s 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 of the company’s stock, valued at $7,561,875.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Arnaldo Perez sold 15,166 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total transaction of $1,009,903.94. The disclosure for this sale can be found here. Insiders sold 306,393 shares of company stock worth $20,524,631 over the last ninety days. 23.80% of the stock is currently owned by insiders.
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Carnival Company 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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