Ken Stern & Associates Inc. Takes $300,000 Position in Carnival Corporation (CCL)

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.

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

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