Stralem & Co. Inc. Acquires 6,780 Shares of Carnival Corp (CCL)
Stralem & Co. Inc. grew its position in Carnival Corp (NYSE:CCL) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 117,955 shares of the company’s stock after purchasing an additional 6,780 shares during the quarter. Carnival makes up about 2.7% of Stralem & Co. Inc.’s portfolio, making the stock its 25th largest position. Stralem & Co. Inc.’s holdings in Carnival were worth $5,983,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC boosted its stake in Carnival by 0.5% during the fourth quarter. Nuveen Asset Management LLC now owns 34,308 shares of the company’s stock worth $1,691,000 after acquiring an additional 179 shares in the last quarter. Wetherby Asset Management Inc. lifted its stake in shares of Carnival by 2.9% in the fourth quarter. Wetherby Asset Management Inc. now owns 6,526 shares of the company’s stock valued at $322,000 after buying an additional 184 shares in the last quarter. New Potomac Partners LLC lifted its stake in shares of Carnival by 0.7% in the fourth quarter. New Potomac Partners LLC now owns 30,530 shares of the company’s stock valued at $1,505,000 after buying an additional 200 shares in the last quarter. Hanson McClain Inc. lifted its stake in shares of Carnival by 16.4% in the fourth quarter. Hanson McClain Inc. now owns 1,424 shares of the company’s stock valued at $70,000 after buying an additional 201 shares in the last quarter. Finally, Tealwood Asset Management Inc. lifted its stake in shares of Carnival by 0.4% in the first quarter. Tealwood Asset Management Inc. now owns 54,965 shares of the company’s stock valued at $2,788,000 after buying an additional 219 shares in the last quarter. 76.56% of the stock is currently owned by institutional investors.
Several brokerages have recently commented on CCL. Zacks Investment Research upgraded shares of Carnival from a “sell” rating to a “hold” rating in a report on Wednesday, December 19th. Deutsche Bank lowered their target price on shares of Carnival to $60.00 and set a “hold” rating for the company in a report on Friday, December 21st. Barclays lowered their target price on shares of Carnival from $70.00 to $69.00 and set an “overweight” rating for the company in a report on Friday, December 21st. SunTrust Banks lowered their target price on shares of Carnival from $77.00 to $67.00 and set a “buy” rating for the company in a report on Friday, December 21st. Finally, Standpoint Research began coverage on shares of Carnival in a report on Wednesday, December 26th. They set an “accumulate” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $66.70.
Carnival stock traded up $0.12 during mid-day trading on Wednesday, hitting $54.92. 205,835 shares of the company traded hands, compared to its average volume of 4,818,188. Carnival Corp has a one year low of $45.64 and a one year high of $67.69. The firm has a market cap of $28.98 billion, a PE ratio of 12.86, a PEG ratio of 1.08 and a beta of 1.23. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.22 and a quick ratio of 0.17.
Carnival (NYSE:CCL) last announced its earnings results on Tuesday, March 26th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. Carnival had a net margin of 16.03% and a return on equity of 12.30%. The business had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the business posted $0.52 earnings per share. Carnival’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts anticipate that Carnival Corp will post 4.54 earnings per share for the current year.
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Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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