Cornerstone Financial Partners LLC raised its stake in shares of Carnival Corp (NYSE:CCL) by 0.2% during the first quarter, Holdings Channel reports. The firm owned 48,449 shares of the company’s stock after buying an additional 104 shares during the period. Cornerstone Financial Partners LLC’s holdings in Carnival Corp were worth $2,857,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Rowland & Co. Investment Counsel ADV raised its position in Carnival Corp by 0.4% in the third quarter. Rowland & Co. Investment Counsel ADV now owns 2,315 shares of the company’s stock valued at $113,000 after buying an additional 9 shares during the period. Independent Advisor Alliance acquired a new position in Carnival Corp during the fourth quarter valued at approximately $128,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Carnival Corp during the fourth quarter valued at approximately $131,000. NCM Capital Management Group Inc. raised its position in Carnival Corp by 9.9% in the third quarter. NCM Capital Management Group Inc. now owns 2,775 shares of the company’s stock valued at $135,000 after buying an additional 250 shares during the period. Finally, SRB Corp raised its position in Carnival Corp by 17.7% in the third quarter. SRB Corp now owns 3,325 shares of the company’s stock valued at $162,000 after buying an additional 500 shares during the period. 79.45% of the stock is currently owned by hedge funds and other institutional investors.
Carnival Corp (NYSE:CCL) traded up 0.879% during mid-day trading on Monday, hitting $57.975. 646,374 shares of the company were exchanged. The stock has a market cap of $42.09 billion, a P/E ratio of 14.287 and a beta of 0.73. Carnival Corp has a 12-month low of $42.94 and a 12-month high of $60.24. The company has a 50 day moving average of $57.53 and a 200 day moving average of $53.14.
Carnival Corp (NYSE:CCL) last announced its earnings results on Tuesday, March 28th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The business earned $3.79 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Carnival Corp had a net margin of 16.96% and a return on equity of 11.35%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $0.39 EPS. On average, equities research analysts expect that Carnival Corp will post $3.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, May 26th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, May 24th. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. This is a positive change from Carnival Corp’s previous quarterly dividend of $0.35. Carnival Corp’s dividend payout ratio is currently 37.43%.
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CCL has been the topic of several recent analyst reports. Argus raised Carnival Corp from a “hold” rating to a “buy” rating and increased their target price for the company from $56.03 to $64.00 in a report on Monday, February 27th. Stifel Nicolaus increased their target price on Carnival Corp from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, March 22nd. Instinet upped their price objective on shares of Carnival Corp from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, March 29th. Barclays PLC restated an “equal weight” rating and issued a $56.00 price objective on shares of Carnival Corp in a research note on Wednesday, December 21st. Finally, Zacks Investment Research upgraded shares of Carnival Corp from a “sell” rating to a “hold” rating in a research note on Monday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. Carnival Corp currently has an average rating of “Buy” and a consensus target price of $57.17.
In other news, Director Sir Jonathon Band sold 6,276 shares of the firm’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $53.48, for a total value of $335,640.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David Bernstein sold 23,030 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $55.88, for a total transaction of $1,286,916.40. Following the completion of the transaction, the chief financial officer now directly owns 127,297 shares in the company, valued at approximately $7,113,356.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,468 shares of company stock worth $9,055,633. Insiders own 22.00% of the company’s stock.
Carnival Corp 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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