Chemical Bank boosted its stake in shares of Carnival Corporation (NYSE:CCL) by 22.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 27,538 shares of the company’s stock after purchasing an additional 5,095 shares during the period. Chemical Bank’s holdings in Carnival Corporation were worth $1,806,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in Carnival Corporation during the 2nd quarter worth about $289,000. Almanack Investment Partners LLC. acquired a new stake in Carnival Corporation during the 2nd quarter worth about $117,000. Point72 Asia Hong Kong Ltd acquired a new stake in Carnival Corporation during the 1st quarter worth about $138,000. Harbour Capital Advisors LLC acquired a new stake in Carnival Corporation during the 1st quarter worth about $147,000. Finally, Bessemer Group Inc. grew its position in Carnival Corporation by 109.4% during the 2nd quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock worth $171,000 after purchasing an additional 1,368 shares during the period. 77.34% of the stock is currently owned by institutional investors.
In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the transaction, the insider now directly owns 150,860 shares in the company, valued at $10,110,637.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 23.80% of the company’s stock.
Carnival Corporation (NYSE CCL) traded down 0.07% during midday trading on Wednesday, reaching $68.13. The company had a trading volume of 515,909 shares. Carnival Corporation has a 1-year low of $45.02 and a 1-year high of $69.89. The stock has a market capitalization of $49.33 billion, a PE ratio of 18.02 and a beta of 0.74. The firm’s 50 day moving average is $67.65 and its 200 day moving average is $63.12.
Carnival Corporation (NYSE:CCL) last issued its earnings results on Thursday, June 22nd. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that Carnival Corporation will post $3.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $1.60 annualized dividend and a yield of 2.35%. Carnival Corporation’s payout ratio is currently 42.55%.
Several brokerages have weighed in on CCL. Zacks Investment Research raised Carnival Corporation from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Tuesday, September 5th. UBS AG reaffirmed a “buy” rating and set a $76.00 price target (up from $67.00) on shares of Carnival Corporation in a research report on Thursday, August 17th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Carnival Corporation in a research report on Tuesday, August 15th. BidaskClub raised Carnival Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $73.20 price target on shares of Carnival Corporation in a research report on Monday, July 24th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Carnival Corporation has a consensus rating of “Buy” and a consensus target price of $63.27.
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.
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