Candriam Luxembourg S.C.A. Sells 13,628 Shares of Carnival Corp (CCL)
Candriam Luxembourg S.C.A. reduced its stake in Carnival Corp (NYSE:CCL) by 26.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,475 shares of the company’s stock after selling 13,628 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Carnival were worth $2,390,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of CCL. Long Pond Capital LP purchased a new stake in shares of Carnival in the second quarter valued at $51,309,000. Sterling Capital Management LLC purchased a new stake in shares of Carnival in the second quarter valued at $34,285,000. Wells Fargo & Company MN lifted its position in shares of Carnival by 24.8% in the third 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 in the last quarter. American Century Companies Inc. lifted its position in shares of Carnival by 41.6% in the third quarter. American Century Companies Inc. now owns 1,819,018 shares of the company’s stock valued at $115,999,000 after acquiring an additional 534,003 shares in the last quarter. Finally, Putnam Investments LLC lifted its position in shares of Carnival by 6,244.4% in the second quarter. Putnam Investments LLC now owns 394,557 shares of the company’s stock valued at $22,612,000 after acquiring an additional 388,338 shares in the last quarter. Institutional investors and hedge funds own 73.97% of the company’s stock.
Several brokerages have recently issued reports on CCL. Credit Suisse Group set a $76.00 price objective on Carnival and gave the company a “buy” rating in a research report on Tuesday. ValuEngine upgraded Carnival from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Goldman Sachs Group set a $70.00 price objective on Carnival and gave the company a “hold” rating in a research report on Monday, September 24th. Citigroup reduced their price objective on Carnival from $79.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, August 8th. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Carnival in a research report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $72.93.
Carnival (NYSE:CCL) last released its earnings results on Thursday, September 27th. The company reported $2.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $0.04. Carnival had a return on equity of 12.30% and a net margin of 17.15%. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the prior year, the business posted $2.29 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts anticipate that Carnival Corp will post 4.25 EPS 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 given a dividend of $0.50 per share. The ex-dividend date is Wednesday, November 21st. This represents a $2.00 annualized dividend and a yield of 3.33%. Carnival’s dividend payout ratio (DPR) is presently 52.36%.
In related news, General Counsel Arnaldo Perez sold 7,000 shares of the stock in a transaction dated 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 23.80% of the company’s stock.
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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.
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