Parametric Portfolio Associates LLC Sells 83,470 Shares of Carnival Corporation (CCL)
Parametric Portfolio Associates LLC reduced its stake in Carnival Corporation (NYSE:CCL) by 10.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 731,599 shares of the company’s stock after selling 83,470 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.10% of Carnival Corporation worth $47,971,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CCL. BlackRock Inc. increased its holdings in Carnival Corporation by 2,672.9% in the 1st quarter. BlackRock Inc. now owns 27,919,132 shares of the company’s stock valued at $1,644,716,000 after purchasing an additional 26,912,293 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Carnival Corporation by 316.9% in the 2nd quarter. Alliancebernstein L.P. now owns 4,236,266 shares of the company’s stock valued at $277,772,000 after purchasing an additional 3,220,191 shares in the last quarter. Bank of America Corp DE increased its holdings in Carnival Corporation by 6.5% in the 1st quarter. Bank of America Corp DE now owns 24,838,450 shares of the company’s stock valued at $1,463,234,000 after purchasing an additional 1,519,630 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Carnival Corporation by 4,220.0% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,496,929 shares of the company’s stock valued at $98,154,000 after purchasing an additional 1,462,278 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Carnival Corporation by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 27,985,243 shares of the company’s stock valued at $1,648,612,000 after purchasing an additional 1,150,341 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.
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Carnival Corporation (NYSE:CCL) opened at 63.68 on Thursday. Carnival Corporation has a one year low of $45.80 and a one year high of $69.89. The firm has a 50-day moving average of $67.69 and a 200-day moving average of $63.59. The company has a market cap of $46.10 billion, a PE ratio of 16.84 and a beta of 0.74. Carnival Corporation also saw unusually large options trading activity on Tuesday. Traders purchased 8,594 call options on the stock. This represents an increase of approximately 409% compared to the average volume of 1,690 call options.
Carnival Corporation (NYSE:CCL) last posted its earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.09. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Carnival Corporation had a net margin of 15.53% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 earnings per share. On average, analysts predict that Carnival Corporation will post $3.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.46%. Carnival Corporation’s payout ratio is currently 43.72%.
Several brokerages recently issued reports on CCL. Zacks Investment Research upgraded Carnival Corporation from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Wednesday, July 12th. Stifel Nicolaus restated a “buy” rating and set a $79.00 target price (up from $74.00) on shares of Carnival Corporation in a research note on Wednesday. Deutsche Bank AG restated a “hold” rating and set a $61.00 target price (down from $62.00) on shares of Carnival Corporation in a research note on Wednesday. William Blair restated an “outperform” rating on shares of Carnival Corporation in a research note on Friday, June 9th. Finally, UBS AG restated a “buy” rating and set a $76.00 target price (up from $67.00) on shares of Carnival Corporation in a research note on Thursday, August 17th. Nine research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $64.39.
In related news, insider Alan Buckelew sold 15,000 shares of the company’s stock in a transaction dated 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 owns 150,860 shares of the company’s stock, valued at $10,110,637.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 23.80% of the company’s stock.
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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