Arizona State Retirement System decreased its stake in shares of Carnival Corporation (NYSE:CCL) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 131,036 shares of the company’s stock after selling 1,600 shares during the period. Arizona State Retirement System’s holdings in Carnival Corporation were worth $8,592,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Dubuque Bank & Trust Co. bought a new stake in Carnival Corporation during the first quarter valued at $106,000. Point72 Asia Hong Kong Ltd bought a new stake in Carnival Corporation during the first quarter valued at $138,000. Harbour Capital Advisors LLC bought a new stake in Carnival Corporation during the first quarter valued at $147,000. Bessemer Group Inc. increased its stake in Carnival Corporation by 109.4% in the second quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock valued at $171,000 after buying an additional 1,368 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Carnival Corporation by 87.9% in the first quarter. Parallel Advisors LLC now owns 2,674 shares of the company’s stock valued at $167,000 after buying an additional 1,251 shares in the last quarter. 78.82% of the stock is owned by hedge funds and other institutional investors.

Carnival Corporation (NYSE:CCL) opened at 67.48 on Friday. The firm has a 50-day moving average of $66.62 and a 200 day moving average of $61.29. The stock has a market capitalization of $48.86 billion, a price-to-earnings ratio of 17.85 and a beta of 0.75. Carnival Corporation has a 12-month low of $44.11 and a 12-month high of $68.87.

Carnival Corporation (NYSE:CCL) last announced its quarterly earnings data on Thursday, June 22nd. The company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the business earned $0.49 EPS. The company’s revenue was up 6.5% on a year-over-year basis. On average, analysts predict that Carnival Corporation will post $3.74 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.37%. Carnival Corporation’s payout ratio is 42.55%.

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Several research firms have recently weighed in on CCL. UBS AG reaffirmed a “buy” rating and set a $67.00 price target on shares of Carnival Corporation in a research note on Monday, April 17th. BidaskClub downgraded shares of Carnival Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of Carnival Corporation from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price target on shares of Carnival Corporation in a research note on Friday, June 16th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $57.00 price target (up previously from $55.00) on shares of Carnival Corporation in a research note on Tuesday, June 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $62.06.

In other news, insider Alan Buckelew sold 15,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $67.02, for a total value of $1,005,300.00. Following the sale, the insider now directly owns 150,860 shares in the company, valued at approximately $10,110,637.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.80% of the stock is currently owned by company insiders.

Carnival Corporation Company Profile

Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.

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Institutional Ownership by Quarter for Carnival Corporation (NYSE:CCL)

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