Paloma Partners Management Co boosted its position in shares of Carnival Corp (NYSE:CCL) by 140.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,390 shares of the company’s stock after purchasing an additional 56,846 shares during the quarter. Paloma Partners Management Co’s holdings in Carnival were worth $4,533,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CCL. Manchester Financial Inc. acquired a new position in Carnival during the second quarter valued at approximately $26,000. Advisory Alpha LLC acquired a new position in Carnival during the first quarter valued at approximately $29,000. Peddock Capital Advisors LLC acquired a new position in Carnival during the first quarter valued at approximately $35,000. Berman Capital Advisors LLC grew its holdings in Carnival by 92.1% during the second quarter. Berman Capital Advisors LLC now owns 920 shares of the company’s stock valued at $42,000 after purchasing an additional 441 shares during the period. Finally, Ashburton Jersey Ltd acquired a new position in Carnival during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.
Shares of Carnival stock traded down $0.39 on Friday, hitting $47.99. The company had a trading volume of 120,107 shares, compared to its average volume of 3,816,919. The firm has a market capitalization of $25.49 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.18 and a beta of 1.09. Carnival Corp has a twelve month low of $42.42 and a twelve month high of $67.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.27 and a quick ratio of 0.22. The stock has a 50-day moving average of $45.85 and a 200-day moving average of $50.22.
Carnival (NYSE:CCL) last released its quarterly earnings results on Thursday, June 20th. The company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Carnival had a net margin of 15.09% and a return on equity of 12.15%. The business’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. Equities analysts predict that Carnival Corp will post 4.33 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, August 22nd. Carnival’s dividend payout ratio (DPR) is presently 46.95%.
A number of research analysts recently issued reports on the stock. William Blair cut shares of Carnival from an “outperform” rating to a “market perform” rating in a report on Thursday, June 20th. Wedbush decreased their price objective on shares of Carnival from $54.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, June 21st. SunTrust Banks decreased their price objective on shares of Carnival to $65.00 and set a “buy” rating for the company in a report on Friday, June 21st. Wolfe Research cut shares of Carnival from an “outperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Finally, Nomura cut shares of Carnival from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $60.00 to $52.00 in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $60.39.
In related news, Director Randall J. Weisenburger purchased 20,000 shares of Carnival stock in a transaction dated Wednesday, July 3rd. The stock was bought at an average price of $46.50 per share, for a total transaction of $930,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arnold W. Donald acquired 22,050 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was acquired at an average cost of $45.23 per share, for a total transaction of $997,321.50. The disclosure for this purchase can be found here. 24.10% of the stock is owned by corporate insiders.
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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