Gradient Investments LLC Boosts Stake in Carnival Corp. (CCL)
Gradient Investments LLC increased its position in Carnival Corp. (NYSE:CCL) by 17,536.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,997 shares of the company’s stock after buying an additional 105,396 shares during the period. Gradient Investments LLC’s holdings in Carnival Corp. were worth $5,175,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Capital Analysts LLC raised its position in shares of 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 in the last quarter. Hall Laurie J Trustee raised its position in shares of Carnival Corp. by 6.9% in the second quarter. Hall Laurie J Trustee now owns 3,550 shares of the company’s stock valued at $162,000 after buying an additional 230 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Carnival Corp. by 4.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,109 shares of the company’s stock valued at $182,000 after buying an additional 162 shares in the last quarter. Intrust Bank NA acquired a new position in shares of Carnival Corp. during the second quarter valued at $202,000. Finally, LSV Asset Management acquired a new position in shares of Carnival Corp. during the second quarter valued at $217,000. Institutional investors and hedge funds own 78.10% of the company’s stock.
Shares of Carnival Corp. (NYSE:CCL) traded down 0.47% on Monday, hitting $51.26. 3,345,230 shares of the stock were exchanged. The stock has a market cap of $37.42 billion, a price-to-earnings ratio of 15.94 and a beta of 0.66. The stock’s 50-day moving average is $48.37 and its 200-day moving average is $47.37. Carnival Corp. has a 1-year low of $40.52 and a 1-year high of $55.77.
Carnival Corp. (NYSE:CCL) last posted its quarterly earnings results on Monday, September 26th. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. The business earned $5.10 billion during the quarter. Carnival Corp. had a net margin of 15.10% and a return on equity of 10.76%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.75 earnings per share. Analysts forecast that Carnival Corp. will post $3.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, November 25th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, November 22nd. Carnival Corp.’s payout ratio is 42.94%.
Several brokerages recently weighed in on CCL. JPMorgan Chase & Co. restated a “neutral” rating and issued a $46.00 price objective (down from $58.00) on shares of Carnival Corp. in a report on Thursday, October 27th. SunTrust Banks Inc. set a $54.00 price objective on shares of Carnival Corp. and gave the company a “buy” rating in a report on Wednesday, October 19th. Stifel Nicolaus restated a “buy” rating and issued a $60.00 price objective on shares of Carnival Corp. in a report on Tuesday, September 27th. Wells Fargo & Co. restated a “buy” rating on shares of Carnival Corp. in a report on Wednesday, September 28th. Finally, Sanford C. Bernstein began coverage on shares of Carnival Corp. in a report on Thursday, September 8th. They issued a “market perform” rating and a $51.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. Carnival Corp. presently has a consensus rating of “Buy” and a consensus target price of $55.07.
In other Carnival Corp. news, CEO Arnold W. Donald sold 91,813 shares of the firm’s stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $46.67, for a total value of $4,284,912.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Bernstein sold 4,030 shares of the firm’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $49.18, for a total transaction of $198,195.40. Following the completion of the sale, the chief financial officer now owns 47,256 shares of the company’s stock, valued at $2,324,050.08. The disclosure for this sale can be found here. 22.00% of the stock is currently owned by company insiders.
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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