Insider Selling: Carnival Corp. (CCL) CFO Sells 4,030 Shares of Stock
Carnival Corp. (NYSE:CCL) CFO David Bernstein sold 4,030 shares of the business’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $49.18, for a total value of $198,195.40. Following the sale, the chief financial officer now owns 47,256 shares in the company, valued at approximately $2,324,050.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of Carnival Corp. (NYSE:CCL) opened at 48.77 on Thursday. The stock has a market capitalization of $35.60 billion, a P/E ratio of 15.16 and a beta of 0.80. Carnival Corp. has a 52 week low of $40.52 and a 52 week high of $55.77. The stock has a 50 day moving average price of $46.98 and a 200 day moving average price of $47.80.
Carnival Corp. (NYSE:CCL) last posted its earnings results on Monday, September 26th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.03. The company had revenue of $5.10 billion for the quarter. Carnival Corp. had a return on equity of 10.76% and a net margin of 15.10%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.75 earnings per share. On average, equities research analysts expect that Carnival Corp. will post $8.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 26th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.40 annualized dividend and a dividend yield of 2.87%. Carnival Corp.’s payout ratio is presently 42.94%.
A number of equities research analysts recently weighed in on CCL shares. Bank of America Corp. set a $53.40 price objective on Carnival Corp. and gave the stock a “buy” rating in a research report on Wednesday, September 21st. Morgan Stanley lowered Carnival Corp. from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $54.00 to $48.00 in a research report on Friday, September 2nd. Wells Fargo & Co. reiterated an “outperform” rating on shares of Carnival Corp. in a research report on Thursday, June 30th. Zacks Investment Research upgraded Carnival Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. Finally, Sanford C. Bernstein assumed coverage on Carnival Corp. in a research report on Thursday, September 8th. They issued a “market perform” rating and a $51.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $55.92.
Several hedge funds have recently bought and sold shares of CCL. Synovus Financial Corp boosted its stake in Carnival Corp. by 0.4% in the second quarter. Synovus Financial Corp now owns 6,689 shares of the company’s stock valued at $295,000 after buying an additional 25 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Carnival Corp. by 0.3% in the second quarter. Thrivent Financial for Lutherans now owns 13,260 shares of the company’s stock valued at $586,000 after buying an additional 40 shares during the last quarter. Shufro Rose & Co. LLC boosted its stake in Carnival Corp. by 0.3% in the first quarter. Shufro Rose & Co. LLC now owns 29,450 shares of the company’s stock valued at $1,554,000 after buying an additional 100 shares during the last quarter. Capital Analysts LLC boosted its stake in Carnival Corp. by 3.7% in the second quarter. Capital Analysts LLC now owns 3,316 shares of the company’s stock valued at $147,000 after buying an additional 118 shares during the last quarter. Finally, Conning Inc. boosted its stake in Carnival Corp. by 1.1% in the second quarter. Conning Inc. now owns 10,914 shares of the company’s stock valued at $482,000 after buying an additional 120 shares during the last quarter. 77.99% of the stock is currently owned by institutional investors.
Carnival Corp. Company Profile
Carnival Corporation is a leisure travel company. The Company is a cruise company and provides vacations to cruise destinations throughout the world. The Company aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) segments.
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