Cadence Bank NA Sells 4,676 Shares of Carnival Corp (CCL)

Cadence Bank NA trimmed its holdings in Carnival Corp (NYSE:CCL) by 15.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,694 shares of the company’s stock after selling 4,676 shares during the period. Cadence Bank NA’s holdings in Carnival were worth $1,575,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Regentatlantic Capital LLC raised its position in shares of Carnival by 1.8% in the second quarter. Regentatlantic Capital LLC now owns 49,377 shares of the company’s stock valued at $2,830,000 after buying an additional 857 shares during the last quarter. Lido Advisors LLC raised its position in shares of Carnival by 11.3% in the second quarter. Lido Advisors LLC now owns 8,555 shares of the company’s stock valued at $490,000 after buying an additional 872 shares during the last quarter. Signaturefd LLC raised its position in shares of Carnival by 34.1% in the second quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock valued at $211,000 after buying an additional 937 shares during the last quarter. A. D. Beadell Investment Counsel Inc. raised its position in shares of Carnival by 2.6% in the third quarter. A. D. Beadell Investment Counsel Inc. now owns 37,555 shares of the company’s stock valued at $2,394,000 after buying an additional 950 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Carnival by 7.6% during the second quarter. IFP Advisors Inc now owns 13,520 shares of the company’s stock worth $775,000 after purchasing an additional 953 shares during the last quarter. Institutional investors and hedge funds own 76.18% of the company’s stock.

In other Carnival news, General Counsel Arnaldo Perez sold 7,000 shares of Carnival stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $64.26, for a total transaction of $449,820.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 23.80% of the stock is owned by company insiders.

Several equities research analysts recently issued reports on CCL shares. Stifel Nicolaus cut their price objective on shares of Carnival from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, September 28th. Zacks Investment Research cut shares of Carnival from a “hold” rating to a “sell” rating in a research report on Monday, August 27th. ValuEngine cut shares of Carnival from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Macquarie set a $55.00 price objective on shares of Carnival and gave the stock a “sell” rating in a research report on Friday, September 28th. Finally, Credit Suisse Group set a $75.00 price objective on shares of Carnival and gave the stock a “buy” rating in a research report on Thursday, September 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $72.86.

Shares of CCL opened at $58.12 on Friday. Carnival Corp has a 1-year low of $53.47 and a 1-year high of $72.70. The stock has a market cap of $30.16 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 0.97 and a beta of 1.01. The company has a quick ratio of 0.17, a current ratio of 0.22 and a debt-to-equity ratio of 0.34.

Carnival (NYSE:CCL) last announced its quarterly earnings results on Thursday, September 27th. The company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.04. Carnival had a net margin of 17.15% and a return on equity of 12.30%. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period last year, the business earned $2.29 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts predict that Carnival Corp will post 4.25 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 23rd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, November 21st. Carnival’s dividend payout ratio is presently 52.36%.

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About Carnival

Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.

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Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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