Private Advisor Group LLC Cuts Holdings in Carnival Corp (CCL)
Private Advisor Group LLC lessened its holdings in shares of Carnival Corp (NYSE:CCL) by 29.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,060 shares of the company’s stock after selling 3,313 shares during the quarter. Private Advisor Group LLC’s holdings in Carnival were worth $533,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of CCL. Mutual of America Capital Management LLC boosted its position in Carnival by 1.6% during the third quarter. Mutual of America Capital Management LLC now owns 51,689 shares of the company’s stock worth $3,338,000 after purchasing an additional 796 shares during the period. Oakbrook Investments LLC bought a new position in Carnival during the third quarter worth about $294,000. Xact Kapitalforvaltning AB boosted its position in Carnival by 2.8% during the third quarter. Xact Kapitalforvaltning AB now owns 60,692 shares of the company’s stock worth $3,919,000 after purchasing an additional 1,637 shares during the period. Aperio Group LLC boosted its position in Carnival by 8.8% during the third quarter. Aperio Group LLC now owns 179,945 shares of the company’s stock worth $11,619,000 after purchasing an additional 14,612 shares during the period. Finally, First Quadrant L P CA bought a new position in Carnival during the third quarter worth about $7,385,000. Hedge funds and other institutional investors own 75.61% of the company’s stock.
A number of equities analysts have weighed in on the stock. Credit Suisse Group increased their target price on shares of Carnival from $78.10 to $79.50 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. ValuEngine upgraded shares of Carnival from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Morgan Stanley increased their target price on shares of Carnival from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Buckingham Research reiterated a “buy” rating and set a $84.00 target price (up previously from $80.00) on shares of Carnival in a research report on Wednesday, December 20th. Finally, 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. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $73.82.
Carnival (NYSE:CCL) last announced its earnings results on Tuesday, December 19th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.15 billion. Carnival had a net margin of 14.88% and a return on equity of 11.78%. Carnival’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.67 earnings per share. research analysts predict that Carnival Corp will post 4.28 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 2.62%. The ex-dividend date is Thursday, February 22nd. Carnival’s dividend payout ratio is currently 22.28%.
In related news, CEO Arnold W. Donald sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $65.57, for a total value of $327,850.00. The sale was disclosed in a filing with the SEC, which is available through this link. 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 336,364 shares of company stock worth $22,622,361 over the last ninety days. 23.80% of the stock is currently owned by insiders.
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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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