Twin Capital Management Inc. Buys Shares of 5,688 Carnival Corp (CCL)
Twin Capital Management Inc. bought a new stake in shares of Carnival Corp (NYSE:CCL) during the third quarter, HoldingsChannel reports. The institutional investor bought 5,688 shares of the company’s stock, valued at approximately $363,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp lifted its position in Carnival by 0.5% during the 2nd quarter. Northern Trust Corp now owns 25,028,806 shares of the company’s stock valued at $1,434,401,000 after purchasing an additional 121,834 shares during the period. Bank of New York Mellon Corp raised its position in shares of Carnival by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,921,357 shares of the company’s stock valued at $224,733,000 after acquiring an additional 55,116 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Carnival by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,140,823 shares of the company’s stock valued at $179,999,000 after acquiring an additional 62,365 shares during the period. FMR LLC raised its position in shares of Carnival by 10.0% in the 2nd quarter. FMR LLC now owns 2,894,591 shares of the company’s stock valued at $165,888,000 after acquiring an additional 262,856 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Carnival by 24.8% in the 3rd quarter. Wells Fargo & Company MN now owns 2,700,280 shares of the company’s stock valued at $172,197,000 after acquiring an additional 536,459 shares during the period. Institutional investors own 73.97% of the company’s stock.
In related news, General Counsel Arnaldo Perez sold 7,000 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $64.26, for a total transaction of $449,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.80% of the stock is currently owned by corporate insiders.
Carnival (NYSE:CCL) last posted its earnings results on Thursday, September 27th. The company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.04. Carnival had a return on equity of 12.30% and a net margin of 17.15%. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the prior year, the business earned $2.29 EPS. Carnival’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts expect that Carnival Corp will post 4.25 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 23rd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $2.00 dividend on an annualized basis and a yield of 3.34%. Carnival’s payout ratio is 52.36%.
A number of brokerages recently weighed in on CCL. Zacks Investment Research upgraded shares of Carnival from a “sell” rating to a “hold” rating in a research report on Thursday, September 20th. Goldman Sachs Group set a $70.00 price target on shares of Carnival and gave the company a “hold” rating in a research report on Monday, September 24th. Bank of America set a $78.00 price target on shares of Carnival and gave the company a “buy” rating in a research report on Wednesday, September 26th. Macquarie set a $55.00 price target on shares of Carnival and gave the company a “sell” rating in a research report on Friday, September 28th. Finally, ValuEngine upgraded shares of Carnival from a “sell” rating to a “hold” rating in a research report on Friday, September 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. Carnival has a consensus rating of “Buy” and a consensus price target of $72.86.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Daily Political and is owned by of Daily Political. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.dailypolitical.com/2018/11/19/twin-capital-management-inc-buys-shares-of-5688-carnival-corp-ccl.html.
Carnival Company Profile
Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.
Read More: 52-Week High/Low
Want to see what other hedge funds are holding CCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carnival Corp (NYSE:CCL).
Receive News & Ratings for Carnival Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival and related companies with MarketBeat.com's FREE daily email newsletter.