Carnival Corporation (CCL) Position Decreased by Todd Asset Management LLC
Todd Asset Management LLC reduced its position in shares of Carnival Corporation (NYSE:CCL) by 4.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 646,189 shares of the company’s stock after selling 27,613 shares during the period. Carnival Corporation accounts for approximately 1.2% of Todd Asset Management LLC’s investment portfolio, making the stock its 15th largest position. Todd Asset Management LLC owned approximately 0.09% of Carnival Corporation worth $42,370,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Point72 Asia Hong Kong Ltd bought a new stake in Carnival Corporation during the first quarter worth approximately $138,000. Harbour Capital Advisors LLC bought a new stake in Carnival Corporation during the first quarter worth approximately $147,000. Parallel Advisors LLC boosted 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 worth $167,000 after buying an additional 1,251 shares during the period. Bessemer Group Inc. boosted 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 worth $171,000 after buying an additional 1,368 shares during the period. Finally, Wesbanco Bank Inc. bought a new stake in Carnival Corporation during the first quarter worth approximately $201,000. Institutional investors and hedge funds own 77.32% of the company’s stock.
Shares of Carnival Corporation (NYSE:CCL) traded up 0.03% on Friday, hitting $69.50. 408,625 shares of the stock traded hands. The firm’s 50 day moving average is $67.58 and its 200-day moving average is $62.55. The company has a market cap of $50.32 billion, a PE ratio of 18.38 and a beta of 0.75. Carnival Corporation has a 12 month low of $44.11 and a 12 month high of $69.89.
Carnival Corporation (NYSE:CCL) last released its quarterly earnings data on Thursday, June 22nd. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.89 billion. Carnival Corporation had a return on equity of 11.26% and a net margin of 16.48%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. Equities analysts predict that Carnival Corporation will post $3.74 earnings per share for the current 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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Wednesday, August 23rd. Carnival Corporation’s dividend payout ratio is currently 42.55%.
A number of analysts recently commented on CCL shares. ValuEngine upgraded shares of Carnival Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 target price on shares of Carnival Corporation in a research note on Friday, June 16th. Instinet lifted their target price on shares of Carnival Corporation from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, June 23rd. HSBC Holdings plc reiterated a “buy” rating and issued a $71.00 target price (up from $65.00) on shares of Carnival Corporation in a research note on Monday, June 26th. Finally, Zacks Investment Research upgraded shares of Carnival Corporation from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $62.59.
In other news, insider Alan Buckelew sold 15,000 shares of Carnival Corporation stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $67.02, for a total value of $1,005,300.00. Following the transaction, the insider now directly owns 150,860 shares of the company’s stock, valued at approximately $10,110,637.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 23.80% of the company’s stock.
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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