Tower Bridge Advisors Lowers Holdings in Carnival Corporation (CCL)
Tower Bridge Advisors lowered its position in shares of Carnival Corporation (NYSE:CCL) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 276,734 shares of the company’s stock after selling 9,855 shares during the quarter. Carnival Corporation makes up about 2.0% of Tower Bridge Advisors’ holdings, making the stock its 9th largest holding. Tower Bridge Advisors owned 0.05% of Carnival Corporation worth $17,869,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. Pathstone Family Office LLC raised its holdings in shares of Carnival Corporation by 200.0% during the second quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock valued at $2,493,000 after acquiring an additional 38 shares during the last quarter. YorkBridge Wealth Partners LLC raised its holdings in shares of Carnival Corporation by 1.4% during 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 last quarter. Security National Bank of Sioux City Iowa IA raised its holdings in shares of Carnival Corporation by 0.5% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,390 shares of the company’s stock valued at $878,000 after acquiring an additional 65 shares during the last quarter. Scotia Capital Inc. raised its holdings in shares of Carnival Corporation by 0.4% during the second quarter. Scotia Capital Inc. now owns 16,604 shares of the company’s stock valued at $1,089,000 after acquiring an additional 71 shares during the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Carnival Corporation by 1.7% during 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 last quarter. 77.54% of the stock is owned by institutional investors and hedge funds.
CCL has been the subject of a number of research analyst reports. UBS AG reissued a “buy” rating and set a $76.00 target price (up previously from $67.00) on shares of Carnival Corporation in a report on Thursday, August 17th. Bank of America Corporation reissued a “buy” rating and set a $73.20 target price 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. Deutsche Bank AG reissued a “hold” rating and set a $61.00 target price (down previously from $62.00) on shares of Carnival Corporation in a report on Wednesday, September 27th. Finally, Zacks Investment Research cut Carnival Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of C$67.43.
Shares of Carnival Corporation (NYSE:CCL) traded up C$0.71 during mid-day trading on Monday, reaching C$65.37. The company had a trading volume of 784,738 shares, compared to its average volume of 3,140,000. The firm has a market cap of $46,920.00, a PE ratio of 16.75, a PEG ratio of 1.32 and a beta of 0.74. Carnival Corporation has a 1 year low of C$49.50 and a 1 year high of C$69.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.21 and a quick ratio of 0.16.
Carnival Corporation (NYSE:CCL) last issued its quarterly earnings results on Tuesday, September 26th. The company reported C$2.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$2.20 by C$0.09. The firm had revenue of C$5.52 billion for the quarter, compared to analysts’ expectations of C$5.39 billion. Carnival Corporation had a return on equity of 12.15% and a net margin of 15.53%. 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 EPS. equities research analysts predict that Carnival Corporation will post 3.7 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, November 22nd. This is a positive change from Carnival Corporation’s previous quarterly dividend of $0.40. Carnival Corporation’s payout ratio is currently 43.60%.
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In other Carnival Corporation news, CEO Arnold W. Donald sold 5,000 shares of Carnival Corporation stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of C$65.43, for a total value of C$327,150.00. Following the sale, the chief executive officer now owns 115,572 shares of the company’s stock, valued at approximately C$7,561,875.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 23.80% of the stock is currently owned by insiders.
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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