Carnival Corporation (CCL) Stake Decreased by Balyasny Asset Management LLC
Balyasny Asset Management LLC reduced its holdings in Carnival Corporation (NYSE:CCL) by 59.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 245,547 shares of the company’s stock after selling 359,206 shares during the quarter. Balyasny Asset Management LLC’s holdings in Carnival Corporation were worth $16,101,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CCL. Almanack Investment Partners LLC. purchased a new position in shares of Carnival Corporation during the second quarter valued at approximately $117,000. Point72 Asia Hong Kong Ltd bought a new position in shares of Carnival Corporation during the first quarter valued at approximately $138,000. Harbour Capital Advisors LLC bought a new position in shares of Carnival Corporation during the first quarter valued at approximately $147,000. Parallel Advisors LLC raised its holdings in shares of Carnival Corporation by 87.9% during the first quarter. Parallel Advisors LLC now owns 2,674 shares of the company’s stock valued at $167,000 after acquiring an additional 1,251 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Carnival Corporation by 109.4% during the second quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock valued at $171,000 after acquiring an additional 1,368 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Carnival Corporation from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research report on Tuesday, September 5th. UBS AG restated a “buy” rating and issued a $76.00 price objective (up from $67.00) on shares of Carnival Corporation in a report on Thursday, August 17th. Credit Suisse Group cut shares of Carnival Corporation from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $78.00 to $70.00 in a research report on Friday, September 15th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Carnival Corporation in a research report on Tuesday, August 15th. Finally, BidaskClub raised shares of Carnival Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Ten 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 has an average rating of “Buy” and a consensus target price of $65.07.
Carnival Corporation (NYSE CCL) opened at 64.43 on Tuesday. The stock has a 50 day moving average of $66.83 and a 200 day moving average of $64.10. Carnival Corporation has a 52 week low of $45.92 and a 52 week high of $69.89. The company has a market cap of $46.45 billion, a P/E ratio of 17.52 and a beta of 0.71.
Carnival Corporation (NYSE:CCL) last announced its earnings results on Tuesday, September 26th. The company reported $2.29 EPS for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.09. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.39 billion. Carnival Corporation had a net margin of 15.53% and a return on equity of 12.15%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 earnings per share. On average, analysts expect that Carnival Corporation will post $3.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Wednesday, August 23rd. Carnival Corporation’s dividend payout ratio is currently 43.72%.
In other news, insider Alan Buckelew sold 15,000 shares of Carnival Corporation 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 transaction, the insider now owns 150,860 shares of the company’s stock, valued at approximately $10,110,637.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.80% of the stock is currently owned by company insiders.
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Carnival Corporation 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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