Ffcm LLC increased its position in shares of Carnival Corp (NYSE:CCL) by 23.6% in the 3rd quarter, Holdings Channel reports. The firm owned 17,464 shares of the company’s stock after purchasing an additional 3,337 shares during the quarter. Ffcm LLC’s holdings in Carnival were worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in CCL. Atria Investments LLC acquired a new position in shares of Carnival in the second quarter valued at approximately $227,000. Cornerstone Wealth Management LLC acquired a new position in shares of Carnival in the second quarter valued at approximately $1,442,000. Perella Weinberg Partners Capital Management LP grew its holdings in shares of Carnival by 47.9% in the second quarter. Perella Weinberg Partners Capital Management LP now owns 11,930 shares of the company’s stock valued at $684,000 after purchasing an additional 3,865 shares in the last quarter. Tributary Capital Management LLC acquired a new position in shares of Carnival in the second quarter valued at approximately $1,744,000. Finally, Intact Investment Management Inc. grew its holdings in shares of Carnival by 11.6% in the second quarter. Intact Investment Management Inc. now owns 69,400 shares of the company’s stock valued at $3,977,000 after purchasing an additional 7,200 shares in the last quarter. 73.97% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on CCL. ValuEngine upgraded shares of Carnival from a “sell” rating to a “hold” rating in a report on Friday, September 14th. Deutsche Bank decreased their price target on shares of Carnival from $68.00 to $65.00 and set a “hold” rating for the company in a research note on Friday, September 28th. Stifel Nicolaus decreased their price target on shares of Carnival from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, September 28th. Credit Suisse Group set a $76.00 price target on shares of Carnival and gave the stock a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Carnival in a research note on Thursday, October 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. Carnival currently has an average rating of “Buy” and a consensus price target of $72.93.
Carnival (NYSE:CCL) last issued its quarterly earnings results on Thursday, September 27th. The company reported $2.36 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities research analysts anticipate that Carnival Corp will post 4.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 23rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $2.00 annualized dividend and a dividend yield of 3.33%. Carnival’s dividend payout ratio is presently 52.36%.
In other news, General Counsel Arnaldo Perez sold 7,000 shares of the business’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at this link. 23.80% of the stock is currently owned by insiders.
Carnival Company Profile
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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