Cypress Capital Management LLC increased its holdings in Carnival Corp (NYSE:CCL) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,195 shares of the company’s stock after acquiring an additional 1,525 shares during the period. Carnival comprises approximately 1.7% of Cypress Capital Management LLC’s portfolio, making the stock its 26th biggest holding. Cypress Capital Management LLC’s holdings in Carnival were worth $9,089,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Everence Capital Management Inc. grew its holdings in shares of Carnival by 108.7% in the first quarter. Everence Capital Management Inc. now owns 21,234 shares of the company’s stock valued at $1,077,000 after acquiring an additional 11,060 shares in the last quarter. Moors & Cabot Inc. purchased a new position in Carnival in the first quarter valued at approximately $200,000. Hutchinson Capital Management CA lifted its stake in Carnival by 1.7% in the first quarter. Hutchinson Capital Management CA now owns 245,083 shares of the company’s stock valued at $12,431,000 after purchasing an additional 4,099 shares during the last quarter. Cpwm LLC purchased a new position in Carnival in the first quarter valued at approximately $424,000. Finally, IndexIQ Advisors LLC purchased a new position in Carnival in the first quarter valued at approximately $4,481,000. 76.75% of the stock is owned by institutional investors.
CCL has been the topic of several research analyst reports. Macquarie upgraded Carnival from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $58.00 to $66.00 in a research note on Friday, January 25th. They noted that the move was a valuation call. ValuEngine upgraded Carnival from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Standpoint Research downgraded Carnival from a “buy” rating to a “hold” rating and set a $57.16 price objective on the stock. in a research note on Wednesday, January 30th. Goldman Sachs Group upgraded Carnival from a “neutral” rating to a “buy” rating and upped their price objective for the company from $63.00 to $65.00 in a research note on Wednesday, March 13th. Finally, Zacks Investment Research downgraded Carnival from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $66.70.
Shares of NYSE:CCL traded down $0.58 during trading on Wednesday, hitting $53.24. 62,833 shares of the company were exchanged, compared to its average volume of 3,643,158. The company has a market cap of $27.81 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.11 and a beta of 1.25. Carnival Corp has a 52-week low of $45.64 and a 52-week high of $67.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.22 and a quick ratio of 0.17.
Carnival (NYSE:CCL) last posted its earnings results on Tuesday, March 26th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.31 billion. Carnival had a return on equity of 12.30% and a net margin of 16.03%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 earnings per share. On average, analysts expect that Carnival Corp will post 4.53 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, May 23rd. This represents a $2.00 annualized dividend and a dividend yield of 3.76%. Carnival’s dividend payout ratio is currently 46.95%.
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Carnival Company Profile
Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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