Kelman Lazarov Inc. Purchases 4,021 Shares of Carnival Corporation (NYSE:CCL)

Kelman Lazarov Inc. increased its position in shares of Carnival Corporation (NYSE:CCL) by 29.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,825 shares of the company’s stock after buying an additional 4,021 shares during the period. Kelman Lazarov Inc.’s holdings in Carnival Corporation were worth $1,169,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in CCL. Dubuque Bank & Trust Co. bought a new stake in shares of Carnival Corporation during the first quarter worth about $106,000. Point72 Asia Hong Kong Ltd bought a new stake in shares of Carnival Corporation during the first quarter worth about $138,000. Harbour Capital Advisors LLC bought a new stake in shares of Carnival Corporation during the first quarter worth about $147,000. Parallel Advisors LLC increased its stake in shares of Carnival Corporation by 87.9% in the first quarter. Parallel Advisors LLC now owns 2,674 shares of the company’s stock worth $167,000 after buying an additional 1,251 shares in the last quarter. Finally, Wesbanco Bank Inc. bought a new stake in shares of Carnival Corporation during the first quarter worth about $201,000. Institutional investors own 78.77% of the company’s stock.

Carnival Corporation (NYSE CCL) traded up 0.58% during midday trading on Friday, reaching $67.81. 2,701,681 shares of the company’s stock traded hands. The company has a market capitalization of $49.09 billion, a price-to-earnings ratio of 17.93 and a beta of 0.75. The firm’s 50-day moving average is $66.11 and its 200-day moving average is $60.63. Carnival Corporation has a 1-year low of $44.11 and a 1-year high of $68.29.

Carnival Corporation (NYSE:CCL) last issued its quarterly earnings results on Thursday, June 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts forecast that Carnival Corporation will post $3.74 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.36%. Carnival Corporation’s dividend payout ratio is currently 42.55%.

Carnival Corporation announced that its Board of Directors has authorized a stock repurchase program on Friday, April 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

A number of analysts have issued reports on the stock. UBS AG reiterated a “buy” rating and issued a $67.00 price target on shares of Carnival Corporation in a report on Monday, April 17th. BidaskClub downgraded shares of Carnival Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of Carnival Corporation from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Tuesday. Stifel Nicolaus restated a “buy” rating and issued a $68.00 target price on shares of Carnival Corporation in a report on Friday, June 16th. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $57.00 target price (up from $55.00) on shares of Carnival Corporation in a report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Carnival Corporation presently has an average rating of “Buy” and a consensus price target of $62.06.

In related news, insider Alan Buckelew sold 15,000 shares of Carnival Corporation stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $67.52, for a total value of $1,012,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 23.80% of the stock is owned by insiders.

About Carnival Corporation

Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.