Credit Suisse AG Boosts Position in Carnival Corp (CCL)

Credit Suisse AG boosted its stake in shares of Carnival Corp (NYSE:CCL) by 23.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,287,438 shares of the company’s stock after buying an additional 241,609 shares during the quarter. Credit Suisse AG owned approximately 0.24% of Carnival worth $82,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CCL. Atria Investments LLC purchased a new position in Carnival in the 2nd quarter valued at approximately $227,000. Cornerstone Wealth Management LLC purchased a new position in Carnival in the 2nd quarter valued at approximately $1,442,000. Tributary Capital Management LLC acquired a new stake in Carnival during the 2nd quarter valued at $1,744,000. BB&T Corp grew its holdings in Carnival by 592.3% during the 2nd quarter. BB&T Corp now owns 30,474 shares of the company’s stock valued at $1,747,000 after buying an additional 26,072 shares during the last quarter. Finally, Everett Harris & Co. CA grew its holdings in Carnival by 51.5% during the 2nd quarter. Everett Harris & Co. CA now owns 63,722 shares of the company’s stock valued at $3,652,000 after buying an additional 21,660 shares during the last quarter. Institutional investors own 73.97% of the company’s stock.

In other news, General Counsel Arnaldo Perez sold 7,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $64.26, for a total transaction of $449,820.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 23.80% of the stock is owned by company insiders.

CCL stock opened at $60.75 on Friday. Carnival Corp has a 52-week low of $53.47 and a 52-week high of $72.70. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.17 and a current ratio of 0.22. The firm has a market cap of $32.01 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Wednesday, November 21st. Carnival’s dividend payout ratio (DPR) is 52.36%.

A number of brokerages have commented on CCL. Zacks Investment Research upgraded Carnival from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. ValuEngine upgraded Carnival from a “sell” rating to a “hold” rating in a report on Friday, September 14th. Deutsche Bank lowered their target price on Carnival from $68.00 to $65.00 and set a “hold” rating on the stock in a report on Friday, September 28th. Credit Suisse Group set a $76.00 target price on Carnival and gave the company a “buy” rating in a report on Tuesday, November 20th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Carnival in a report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $72.93.

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Carnival 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.

Further Reading: Fiduciary

Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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