First Republic Investment Management Inc. Has $4.15 Million Position in Carnival Corp (CCL)
First Republic Investment Management Inc. boosted its stake in Carnival Corp (NYSE:CCL) by 34.7% during the 1st quarter, HoldingsChannel reports. The fund owned 81,797 shares of the company’s stock after purchasing an additional 21,075 shares during the quarter. First Republic Investment Management Inc.’s holdings in Carnival were worth $4,149,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. FTB Advisors Inc. boosted its holdings in Carnival by 18.0% in the fourth quarter. FTB Advisors Inc. now owns 3,481 shares of the company’s stock valued at $171,000 after acquiring an additional 532 shares in the last quarter. Legal & General Group Plc boosted its holdings in Carnival by 8.6% in the fourth quarter. Legal & General Group Plc now owns 2,383,898 shares of the company’s stock valued at $117,488,000 after acquiring an additional 188,640 shares in the last quarter. Chartwell Investment Partners LLC boosted its holdings in Carnival by 10.0% in the fourth quarter. Chartwell Investment Partners LLC now owns 246,448 shares of the company’s stock valued at $12,150,000 after acquiring an additional 22,373 shares in the last quarter. First Merchants Corp boosted its holdings in shares of Carnival by 6.3% during the 4th quarter. First Merchants Corp now owns 35,110 shares of the company’s stock valued at $1,731,000 after buying an additional 2,072 shares in the last quarter. Finally, MA Private Wealth bought a new stake in shares of Carnival during the 4th quarter valued at $308,000. Institutional investors and hedge funds own 76.59% of the company’s stock.
In other news, General Counsel Arnaldo Perez sold 5,691 shares of Carnival stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $57.08, for a total value of $324,842.28. Following the completion of the transaction, the general counsel now owns 43,724 shares of the company’s stock, valued at approximately $2,495,765.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Stein Kruse sold 32,163 shares of the business’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $57.08, for a total value of $1,835,864.04. Following the completion of the transaction, the chief executive officer now directly owns 92,198 shares of the company’s stock, valued at approximately $5,262,661.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,536 shares of company stock valued at $3,569,555. 24.10% of the stock is owned by insiders.
Carnival (NYSE:CCL) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.31 billion. Carnival had a return on equity of 12.30% and a net margin of 16.03%. Carnival’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 EPS. Sell-side analysts forecast that Carnival Corp will post 4.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Thursday, May 23rd. Carnival’s dividend payout ratio is presently 46.95%.
A number of analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Carnival from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Goldman Sachs Group upgraded shares of Carnival from a “neutral” rating to a “buy” rating and boosted their target price for the company from $63.00 to $65.00 in a report on Wednesday, March 13th. Buckingham Research dropped their target price on shares of Carnival from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Nomura dropped their target price on shares of Carnival from $66.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Finally, Standpoint Research cut shares of Carnival from a “buy” rating to a “hold” rating and set a $57.16 target price on the stock. in a report on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $66.70.
Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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