Cambridge Investment Research Advisors Inc. grew its stake in shares of Carnival Corp (NYSE:CCL) by 11.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,955 shares of the company’s stock after acquiring an additional 3,895 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Carnival were worth $2,453,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new stake in Carnival in the fourth quarter worth $123,000. Focused Wealth Management Inc bought a new stake in Carnival in the fourth quarter worth $133,000. Avestar Capital LLC bought a new stake in Carnival in the fourth quarter worth $148,000. Delpha Capital Management LLC bought a new stake in Carnival in the fourth quarter worth $173,000. Finally, First Allied Advisory Services Inc. bought a new stake in Carnival in the fourth quarter worth $215,000. Institutional investors and hedge funds own 76.73% of the company’s stock.
A number of equities research analysts recently issued reports on CCL shares. Buckingham Research reiterated a “buy” rating and issued a $84.00 price objective (up from $80.00) on shares of Carnival in a report on Wednesday, December 20th. Credit Suisse Group upgraded shares of Carnival from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $66.05 to $70.00 in a report on Tuesday, January 9th. Morgan Stanley upgraded shares of Carnival from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $65.94 to $68.00 in a report on Wednesday, December 6th. Deutsche Bank upped their price objective on shares of Carnival from $70.00 to $71.00 and gave the stock a “hold” rating in a report on Friday, March 23rd. Finally, Tigress Financial reiterated a “buy” rating on shares of Carnival in a report on Friday, December 22nd. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $74.33.
Carnival (NYSE:CCL) last released its earnings results on Thursday, March 22nd. The company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.09. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.11 billion. Carnival had a net margin of 14.73% and a return on equity of 11.97%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. equities analysts forecast that Carnival Corp will post 4.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, February 23rd were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Thursday, February 22nd. Carnival’s dividend payout ratio is 20.94%.
In other news, General Counsel Arnaldo Perez sold 10,369 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $69.11, for a total transaction of $716,601.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arnold W. Donald sold 8,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $71.66, for a total transaction of $573,280.00. Following the transaction, the chief executive officer now directly owns 102,150 shares of the company’s stock, valued at approximately $7,320,069. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,722 shares of company stock valued at $7,188,543. Company insiders own 23.80% of the company’s stock.
Carnival 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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