Cpwm LLC acquired a new position in shares of Carnival Corp (NYSE:CCL) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 8,364 shares of the company’s stock, valued at approximately $424,000.

A number of other hedge funds also recently made changes to their positions in the business. IndexIQ Advisors LLC acquired a new position in Carnival during the 1st quarter worth $4,481,000. SlateStone Wealth LLC acquired a new position in Carnival during the 1st quarter worth $287,000. Toronto Dominion Bank grew its holdings in Carnival by 151.3% during the 1st quarter. Toronto Dominion Bank now owns 642,932 shares of the company’s stock worth $32,604,000 after acquiring an additional 387,098 shares in the last quarter. State Treasurer State of Michigan grew its holdings in Carnival by 0.6% during the 1st quarter. State Treasurer State of Michigan now owns 115,360 shares of the company’s stock worth $5,851,000 after acquiring an additional 700 shares in the last quarter. Finally, First Mercantile Trust Co. grew its holdings in Carnival by 24.0% during the 1st quarter. First Mercantile Trust Co. now owns 1,240 shares of the company’s stock worth $63,000 after acquiring an additional 240 shares in the last quarter. 76.75% of the stock is owned by institutional investors.

In other Carnival news, CFO David Bernstein sold 24,682 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $57.08, for a total transaction of $1,408,848.56. Following the sale, the chief financial officer now directly owns 70,362 shares in the company, valued at approximately $4,016,262.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stein Kruse sold 32,163 shares of the business’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $57.08, for a total transaction of $1,835,864.04. Following the sale, the chief executive officer now owns 92,198 shares in the company, valued at $5,262,661.84. The disclosure for this sale can be found here. Insiders have sold a total of 62,536 shares of company stock valued at $3,569,555 over the last three months. 24.10% of the stock is currently owned by company insiders.

CCL has been the subject of several research reports. Deutsche Bank reaffirmed a “hold” rating and issued a $59.00 price target on shares of Carnival in a report on Wednesday, March 27th. ValuEngine raised shares of Carnival from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Zacks Investment Research raised shares of Carnival from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Macquarie raised shares of Carnival from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $58.00 to $66.00 in a report on Friday, January 25th. They noted that the move was a valuation call. Finally, Standpoint Research lowered shares of Carnival from a “buy” rating to a “hold” rating and set a $57.16 price target for the company. in a report on Wednesday, January 30th. 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’s stock. Carnival currently has an average rating of “Buy” and an average target price of $66.70.

Carnival stock opened at $53.82 on Wednesday. The company has a quick ratio of 0.17, a current ratio of 0.22 and a debt-to-equity ratio of 0.38. The stock has a market cap of $27.81 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.11 and a beta of 1.25. Carnival Corp has a 52-week low of $45.64 and a 52-week high of $67.69.

Carnival (NYSE:CCL) last posted its earnings results on Tuesday, March 26th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.31 billion. Carnival had a net margin of 16.03% and a return on equity of 12.30%. Carnival’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 EPS. Equities analysts forecast that Carnival Corp will post 4.53 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Thursday, May 23rd. Carnival’s payout ratio is 46.95%.

COPYRIGHT VIOLATION NOTICE: This news story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2019/05/15/8364-shares-in-carnival-corp-ccl-acquired-by-cpwm-llc.html.

About Carnival

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.

Featured Article: Cash Asset Ratio

Want to see what other hedge funds are holding CCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carnival Corp (NYSE:CCL).

Institutional Ownership by Quarter for Carnival (NYSE:CCL)

Receive News & Ratings for Carnival Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival and related companies with MarketBeat.com's FREE daily email newsletter.