Synovus Financial Corp Boosts Holdings in Carnival Corporation (CCL)
Synovus Financial Corp raised its stake in Carnival Corporation (NYSE:CCL) by 25.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,894 shares of the company’s stock after buying an additional 785 shares during the period. Synovus Financial Corp’s holdings in Carnival Corporation were worth $257,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 Asia Hong Kong Ltd bought a new position in shares of Carnival Corporation in the first quarter valued at $138,000. Harbour Capital Advisors LLC bought a new position in shares of Carnival Corporation in the first quarter valued at $147,000. Bessemer Group Inc. increased its holdings in shares of 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. Parallel Advisors LLC increased its holdings in shares of 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. Finally, Canandaigua National Bank & Trust Co. bought a new position in shares of Carnival Corporation in the second quarter valued at $207,000. 77.34% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on CCL shares. Instinet upped their price target on Carnival Corporation from $72.00 to $75.00 and gave the company a “buy” rating in a report on Friday, June 23rd. UBS AG reaffirmed a “buy” rating and issued a $76.00 price target (up previously from $67.00) on shares of Carnival Corporation in a report on Thursday, August 17th. Bank of America Corporation reaffirmed a “buy” rating and issued a $73.20 price target on shares of Carnival Corporation in a report on Monday, July 24th. BidaskClub cut Carnival Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Zacks Investment Research cut Carnival Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $63.32.
In related 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 transaction of $1,005,300.00. Following the sale, the insider now directly owns 150,860 shares in the company, valued at $10,110,637.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 23.80% of the company’s stock.
Carnival Corporation (NYSE CCL) opened at 65.57 on Friday. The stock has a market capitalization of $47.47 billion, a PE ratio of 17.34 and a beta of 0.74. Carnival Corporation has a 12-month low of $44.11 and a 12-month high of $69.89. The stock’s 50 day moving average is $67.63 and its 200 day moving average is $62.93.
Carnival Corporation (NYSE:CCL) last issued its quarterly earnings data on Thursday, June 22nd. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates 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 posted $0.49 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts forecast that Carnival Corporation will post $3.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.44%. Carnival Corporation’s payout ratio is 42.55%.
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About Carnival Corporation
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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