Black Creek Investment Management Inc. cut its stake in Carnival Corporation (NYSE:CCL) by 11.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,115,586 shares of the company’s stock after selling 144,623 shares during the period. Carnival Corporation comprises approximately 3.9% of Black Creek Investment Management Inc.’s holdings, making the stock its 9th largest holding. Black Creek Investment Management Inc. owned approximately 0.15% of Carnival Corporation worth $73,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Pathstone Family Office LLC boosted its stake in Carnival Corporation by 200.0% in the 2nd quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock valued at $2,493,000 after buying an additional 38 shares in the last quarter. YorkBridge Wealth Partners LLC grew its position in Carnival Corporation by 1.4% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after acquiring an additional 40 shares during the period. Cleararc Capital Inc. grew its position in Carnival Corporation by 0.6% in the first quarter. Cleararc Capital Inc. now owns 10,237 shares of the company’s stock valued at $603,000 after acquiring an additional 63 shares during the period. Blair William & Co. IL grew its position in Carnival Corporation by 1.7% in the first quarter. Blair William & Co. IL now owns 4,214 shares of the company’s stock valued at $241,000 after acquiring an additional 72 shares during the period. Finally, Ballentine Partners LLC grew its position in Carnival Corporation by 1.7% in the second quarter. Ballentine Partners LLC now owns 4,523 shares of the company’s stock valued at $305,000 after acquiring an additional 75 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

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Several brokerages have recently commented on CCL. Zacks Investment Research downgraded shares of Carnival Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Carnival Corporation in a report on Tuesday, August 15th. Deutsche Bank AG reiterated a “hold” rating and set a $62.00 target price (up previously from $58.00) on shares of Carnival Corporation in a research report on Sunday, June 25th. Susquehanna Bancshares Inc increased their target price on shares of Carnival Corporation from $75.00 to $76.00 and gave the stock a “positive” rating in a research report on Monday, September 25th. Finally, Wedbush reissued a “neutral” rating and set a $66.00 price target (up from $61.00) on shares of Carnival Corporation in a report on Sunday, June 25th. Ten equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Carnival Corporation presently has a consensus rating of “Buy” and an average target price of $65.07.

Shares of Carnival Corporation (NYSE CCL) traded down 0.09% during midday trading on Monday, hitting $64.51. 1,816,616 shares of the stock traded hands. The company has a market capitalization of $46.51 billion, a price-to-earnings ratio of 17.54 and a beta of 0.71. Carnival Corporation has a 52 week low of $45.80 and a 52 week high of $69.89. The firm’s 50-day moving average is $67.69 and its 200 day moving average is $63.59.

Carnival Corporation (NYSE:CCL) last announced its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 EPS for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.09. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.39 billion. Carnival Corporation had a return on equity of 12.15% and a net margin of 15.53%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $1.92 earnings per share. Equities analysts forecast that Carnival Corporation will post $3.70 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Wednesday, August 23rd. Carnival Corporation’s dividend payout ratio is currently 43.72%.

In related news, insider Alan Buckelew sold 15,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 150,860 shares in the company, valued at approximately $10,110,637.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate 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.

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

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