Zurcher Kantonalbank Zurich Cantonalbank Cuts Stake in Carnival Corp (NYSE:CCL)
Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Carnival Corp (NYSE:CCL) by 50.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,728 shares of the company’s stock after selling 94,248 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Carnival were worth $4,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of CCL. Manchester Financial Inc. purchased a new stake in Carnival in the second quarter worth approximately $26,000. Advisory Alpha LLC purchased a new stake in shares of Carnival during the first quarter valued at approximately $29,000. Peddock Capital Advisors LLC purchased a new stake in shares of Carnival during the first quarter valued at approximately $35,000. Ashburton Jersey Ltd purchased a new stake in shares of Carnival during the second quarter valued at approximately $47,000. Finally, Resources Investment Advisors Inc. boosted its stake in shares of Carnival by 823.5% during the first quarter. Resources Investment Advisors Inc. now owns 942 shares of the company’s stock valued at $48,000 after purchasing an additional 840 shares during the period. 74.43% of the stock is owned by institutional investors and hedge funds.
In related news, Director Randall J. Weisenburger purchased 20,000 shares of Carnival stock in a transaction dated Wednesday, July 3rd. The stock was purchased at an average cost of $46.50 per share, for a total transaction of $930,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Arnold W. Donald purchased 22,050 shares of Carnival stock in a transaction dated Tuesday, June 25th. The shares were bought at an average price of $45.23 per share, with a total value of $997,321.50. The disclosure for this purchase can be found here. 24.10% of the stock is currently owned by corporate insiders.
Carnival (NYSE:CCL) last posted its quarterly earnings data on Thursday, June 20th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.49 billion. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. Research analysts predict that Carnival Corp will post 4.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 23rd will be issued a $0.50 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 4.44%. Carnival’s dividend payout ratio (DPR) is 46.95%.
A number of analysts have recently weighed in on the company. William Blair lowered Carnival from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 20th. Wolfe Research downgraded Carnival from an “outperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Zacks Investment Research downgraded Carnival from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Wedbush decreased their target price on Carnival from $54.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Finally, Nomura downgraded Carnival from a “buy” rating to a “neutral” rating and decreased their target price for the company from $60.00 to $52.00 in a report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $61.26.
Carnival Company Profile
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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