Ken Stern & Associates Inc. acquired a new stake in Carnival Corporation (NYSE:CCL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,517 shares of the company’s stock, valued at approximately $300,000.
A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Carnival Corporation by 2.0% in the second quarter. BlackRock Inc. now owns 28,469,248 shares of the company’s stock valued at $1,866,728,000 after buying an additional 550,116 shares during the last quarter. Vanguard Group Inc. increased its holdings in Carnival Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 27,985,243 shares of the company’s stock valued at $1,648,612,000 after buying an additional 1,150,341 shares during the last quarter. Bank of America Corp DE increased its holdings in Carnival Corporation by 6.5% in the first quarter. Bank of America Corp DE now owns 24,838,450 shares of the company’s stock valued at $1,463,234,000 after buying an additional 1,519,630 shares during the last quarter. State Street Corp increased its holdings in Carnival Corporation by 1.6% in the first quarter. State Street Corp now owns 17,999,377 shares of the company’s stock valued at $1,060,346,000 after buying an additional 284,607 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Carnival Corporation by 316.9% in the second quarter. Alliancebernstein L.P. now owns 4,236,266 shares of the company’s stock valued at $277,772,000 after buying an additional 3,220,191 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.
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Shares of Carnival Corporation (NYSE CCL) traded down 4.07% during trading on Friday, hitting $65.94. The stock had a trading volume of 10,390,474 shares. The stock has a market cap of $47.74 billion, a price-to-earnings ratio of 17.44 and a beta of 0.74. The stock’s 50-day moving average price is $67.77 and its 200 day moving average price is $63.36. Carnival Corporation has a one year low of $45.46 and a one year high of $69.89.
Carnival Corporation (NYSE:CCL) last posted its quarterly earnings data on Thursday, June 22nd. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.89 billion. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.49 earnings per share. On average, equities analysts forecast that Carnival Corporation will post $3.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Wednesday, August 23rd. Carnival Corporation’s payout ratio is 42.55%.
In other news, insider Alan Buckelew sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the completion of the sale, the insider now owns 150,860 shares of the company’s stock, valued at $10,110,637.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 23.80% of the company’s stock.
Several analysts recently weighed in on CCL shares. Instinet boosted their price objective on Carnival Corporation from $72.00 to $75.00 and gave the company a “buy” rating in a report on Friday, June 23rd. UBS AG reissued a “buy” rating and issued a $76.00 price objective (up from $67.00) on shares of Carnival Corporation in a report on Thursday, August 17th. Bank of America Corporation reissued a “buy” rating and issued a $73.20 price objective on shares of Carnival Corporation in a report on Monday, July 24th. BidaskClub lowered Carnival Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Zacks Investment Research lowered Carnival Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Carnival Corporation currently has a consensus rating of “Buy” and a consensus target price of $63.07.
Carnival Corporation 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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