M.D. Sass Investors Services Inc. Invests $8.28 Million in Carnival Corp (NYSE:CCL)

M.D. Sass Investors Services Inc. bought a new position in shares of Carnival Corp (NYSE:CCL) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 177,858 shares of the company’s stock, valued at approximately $8,279,000. Carnival comprises 1.9% of M.D. Sass Investors Services Inc.’s holdings, making the stock its 24th biggest position.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Carnival by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 4,710,995 shares of the company’s stock worth $231,797,000 after acquiring an additional 292,550 shares in the last quarter. Sigma Planning Corp lifted its stake in shares of Carnival by 83.0% during the first quarter. Sigma Planning Corp now owns 7,910 shares of the company’s stock worth $401,000 after buying an additional 3,587 shares during the period. Gamco Investors INC. ET AL purchased a new stake in shares of Carnival during the first quarter valued at $487,000. Cornerstone Advisors Inc. grew its holdings in shares of Carnival by 44.3% during the first quarter. Cornerstone Advisors Inc. now owns 3,725 shares of the company’s stock valued at $189,000 after buying an additional 1,144 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Carnival by 4.3% in the 1st quarter. Victory Capital Management Inc. now owns 7,549 shares of the company’s stock valued at $383,000 after acquiring an additional 311 shares during the period. Hedge funds and other institutional investors own 76.46% of the company’s stock.

In other news, Director Randall J. Weisenburger bought 20,000 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was purchased at an average cost of $46.50 per share, with a total value of $930,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arnold W. Donald bought 22,050 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were purchased at an average cost of $45.23 per share, with a total value of $997,321.50. The disclosure for this purchase can be found here. Insiders own 24.10% of the company’s stock.

A number of equities analysts recently issued reports on CCL shares. William Blair lowered Carnival from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 20th. Wells Fargo & Co reduced their price objective on Carnival from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. Nomura cut Carnival from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $60.00 to $52.00 in a research note on Thursday, June 20th. SunTrust Banks decreased their target price on Carnival to $65.00 and set a “buy” rating for the company in a report on Friday, June 21st. Finally, Wolfe Research lowered Carnival from an “outperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $61.26.

Shares of NYSE CCL traded up $0.05 during trading on Wednesday, reaching $49.71. 6,262,680 shares of the company traded hands, compared to its average volume of 3,186,060. The firm’s fifty day simple moving average is $45.44 and its 200 day simple moving average is $50.58. The stock has a market cap of $25.78 billion, a P/E ratio of 11.67, a PEG ratio of 1.13 and a beta of 1.09. Carnival Corp has a 12-month low of $42.42 and a 12-month high of $67.69. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.38.

Carnival (NYSE:CCL) last issued its earnings results on Thursday, June 20th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.49 billion. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. As a group, research analysts expect that Carnival Corp will post 4.34 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.02%. The ex-dividend date is Thursday, August 22nd. Carnival’s dividend payout ratio is currently 46.95%.

About Carnival

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.

Read More: What are the qualifications of a portfolio manager?

Want to see what other hedge funds are holding CCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carnival Corp (NYSE:CCL).

Institutional Ownership by Quarter for Carnival (NYSE:CCL)

Receive News & Ratings for Carnival Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival and related companies with MarketBeat.com's FREE daily email newsletter.