IFM Investors Pty Ltd bought a new stake in Carnival Corporation (NYSE:CCL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,913 shares of the company’s stock, valued at approximately $640,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pathstone Family Office LLC lifted its stake in shares of Carnival by 200.0% in the second quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock valued at $2,493,000 after buying an additional 38 shares during the period. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Carnival in the second quarter valued at about $289,000. Almanack Investment Partners LLC. bought a new stake in shares of Carnival in the second quarter valued at about $117,000. Grove Bank & Trust lifted its stake in shares of Carnival by 367.8% in the third quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock valued at $131,000 after buying an additional 1,600 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of Carnival by 109.4% in the second quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock valued at $171,000 after buying an additional 1,368 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.
In other news, CEO Arnold W. Donald sold 90,903 shares of Carnival stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $67.41, for a total value of $6,127,771.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arnold W. Donald sold 5,000 shares of Carnival stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,903 shares of company stock valued at $6,782,771. Corporate insiders own 23.80% of the company’s stock.
Carnival Corporation (CCL) opened at $65.18 on Friday. The company has a market cap of $35,049.04, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.16 and a current ratio of 0.21. Carnival Corporation has a one year low of $50.77 and a one year high of $69.89.
Carnival (NYSE:CCL) last announced its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.09. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Carnival had a net margin of 15.53% and a return on equity of 12.15%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.92 earnings per share. equities analysts expect that Carnival Corporation will post 3.7 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be paid a dividend of $0.45 per share. This is a boost from Carnival’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.76%. Carnival’s dividend payout ratio (DPR) is currently 43.72%.
CCL has been the subject of several research reports. UBS reiterated a “buy” rating and issued a $76.00 target price (up previously from $67.00) on shares of Carnival in a research note on Thursday, August 17th. Deutsche Bank reiterated a “hold” rating and issued a $61.00 target price (down previously from $62.00) on shares of Carnival in a research note on Wednesday, September 27th. Zacks Investment Research cut shares of Carnival from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Argus reiterated a “neutral” rating and issued a $67.00 target price (down previously from $78.00) on shares of Carnival in a research note on Thursday, September 28th. Finally, Morgan Stanley upgraded shares of Carnival from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $65.94 to $68.00 in a research note on Wednesday, December 6th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $68.83.
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Carnival Company 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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