PNC Financial Services Group Inc. grew its position in Carnival Corporation (NYSE:CCL) by 6.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,287,106 shares of the company’s stock after acquiring an additional 78,427 shares during the quarter. PNC Financial Services Group Inc. owned 0.18% of Carnival Corporation worth $84,396,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Profund Advisors LLC lifted its position in shares of Carnival Corporation by 20.7% in the 2nd quarter. Profund Advisors LLC now owns 13,968 shares of the company’s stock worth $916,000 after acquiring an additional 2,399 shares during the period. Impala Asset Management LLC lifted its position in shares of Carnival Corporation by 19.3% in the 2nd quarter. Impala Asset Management LLC now owns 534,019 shares of the company’s stock worth $35,016,000 after acquiring an additional 86,389 shares during the period. BlueMountain Capital Management LLC lifted its position in shares of Carnival Corporation by 123.6% in the 2nd quarter. BlueMountain Capital Management LLC now owns 18,240 shares of the company’s stock worth $1,196,000 after acquiring an additional 10,081 shares during the period. Amalgamated Bank lifted its position in shares of Carnival Corporation by 59.9% in the 2nd quarter. Amalgamated Bank now owns 46,100 shares of the company’s stock worth $3,023,000 after acquiring an additional 17,270 shares during the period. Finally, BlackRock Inc. lifted its position in shares of Carnival Corporation by 2.0% in the 2nd quarter. BlackRock Inc. now owns 28,469,248 shares of the company’s stock worth $1,866,728,000 after acquiring an additional 550,116 shares during the period. Institutional investors own 77.34% of the company’s stock.
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In related news, insider Alan Buckelew sold 15,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the completion of the transaction, the insider now directly owns 150,860 shares of the company’s stock, valued at approximately $10,110,637.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 23.80% of the stock is owned by company insiders.
CCL has been the subject of a number of research reports. Wolfe Research upgraded Carnival Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 25th. ValuEngine upgraded Carnival Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Credit Suisse Group restated an “outperform” rating and set a $74.00 target price (up previously from $69.00) on shares of Carnival Corporation in a research report on Saturday, June 3rd. William Blair restated an “outperform” rating on shares of Carnival Corporation in a research report on Friday, June 9th. Finally, Stifel Nicolaus restated a “buy” rating and set a $68.00 target price on shares of Carnival Corporation in a research report on Friday, June 16th. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Carnival Corporation presently has an average rating of “Buy” and a consensus target price of $63.07.
Shares of Carnival Corporation (CCL) traded down 4.07% during midday trading on Friday, hitting $65.94. The company had a trading volume of 10,390,474 shares. The stock has a market capitalization of $47.74 billion, a price-to-earnings ratio of 17.44 and a beta of 0.74. Carnival Corporation has a one year low of $45.46 and a one year high of $69.89. The stock’s 50-day moving average price is $67.77 and its 200-day moving average price is $63.36.
Carnival Corporation (NYSE:CCL) last announced its earnings results on Thursday, June 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.89 billion. Carnival Corporation had a return on equity of 11.26% and a net margin of 16.48%. Carnival Corporation’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. Analysts predict that Carnival Corporation will post $3.74 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.43%. The ex-dividend date was Wednesday, August 23rd. Carnival Corporation’s dividend payout ratio is currently 42.55%.
About Carnival Corporation
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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