Pictet Asset Management Ltd. Reduces Position in Carnival Corp (NYSE:CCL)

Pictet Asset Management Ltd. cut its stake in shares of Carnival Corp (NYSE:CCL) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,901 shares of the company’s stock after selling 8,358 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Carnival were worth $9,131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CCL. NEXT Financial Group Inc boosted its holdings in Carnival by 337.1% in the second quarter. NEXT Financial Group Inc now owns 1,368 shares of the company’s stock valued at $64,000 after purchasing an additional 1,055 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Carnival by 9.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 44,341 shares of the company’s stock worth $2,064,000 after acquiring an additional 3,965 shares in the last quarter. AE Wealth Management LLC boosted its stake in shares of Carnival by 254.6% during the 2nd quarter. AE Wealth Management LLC now owns 16,617 shares of the company’s stock worth $774,000 after acquiring an additional 11,931 shares in the last quarter. RNC Capital Management LLC boosted its stake in shares of Carnival by 58.0% during the 2nd quarter. RNC Capital Management LLC now owns 633,554 shares of the company’s stock worth $29,492,000 after acquiring an additional 232,515 shares in the last quarter. Finally, Hartford Investment Management Co. boosted its stake in shares of Carnival by 0.4% during the 2nd quarter. Hartford Investment Management Co. now owns 57,756 shares of the company’s stock worth $2,689,000 after acquiring an additional 237 shares in the last quarter. 77.12% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on CCL shares. Deutsche Bank set a $46.00 target price on shares of Carnival and gave the stock a “hold” rating in a research note on Friday, September 27th. Wedbush lowered their target price on shares of Carnival from $50.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Citigroup lowered their target price on shares of Carnival from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. TheStreet lowered shares of Carnival from a “b-” rating to a “c+” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus lowered their target price on shares of Carnival from $62.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $50.36.

CCL opened at $44.49 on Tuesday. Carnival Corp has a twelve month low of $39.92 and a twelve month high of $61.31. The company has a quick ratio of 0.25, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $43.96 and a 200 day moving average price of $46.38. The company has a market cap of $23.76 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.06 and a beta of 1.10.

Carnival (NYSE:CCL) last released its quarterly earnings results on Thursday, September 26th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. Carnival had a net margin of 14.93% and a return on equity of 12.67%. The firm had revenue of $6.53 billion during the quarter, compared to the consensus estimate of $6.18 billion. As a group, sell-side analysts expect that Carnival Corp will post 4.27 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.00 annualized dividend and a dividend yield of 4.50%. Carnival’s dividend payout ratio (DPR) is presently 46.95%.

In related news, Director Sir Jonathon Band sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $40.83, for a total transaction of $204,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 24.10% of the stock is owned by corporate insiders.

Carnival 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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Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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