Pinnacle Associates Ltd. Has $21.33 Million Stake in Carnival Corp (CCL)

Pinnacle Associates Ltd. cut its holdings in shares of Carnival Corp (NYSE:CCL) by 1.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 321,419 shares of the company’s stock after selling 4,651 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Carnival were worth $21,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. State of Tennessee Treasury Department boosted its position in shares of Carnival by 7.7% during the fourth quarter. State of Tennessee Treasury Department now owns 334,758 shares of the company’s stock valued at $22,218,000 after buying an additional 23,943 shares during the last quarter. Timber Hill LLC purchased a new stake in shares of Carnival during the fourth quarter valued at $3,004,000. Edgestream Partners L.P. boosted its position in shares of Carnival by 486.6% during the fourth quarter. Edgestream Partners L.P. now owns 19,640 shares of the company’s stock valued at $1,304,000 after buying an additional 16,292 shares during the last quarter. Baird Financial Group Inc. boosted its position in shares of Carnival by 1.7% during the fourth quarter. Baird Financial Group Inc. now owns 109,200 shares of the company’s stock valued at $7,248,000 after buying an additional 1,843 shares during the last quarter. Finally, Stanley Laman Group Ltd. boosted its position in shares of Carnival by 23.3% during the fourth quarter. Stanley Laman Group Ltd. now owns 6,651 shares of the company’s stock valued at $441,000 after buying an additional 1,258 shares during the last quarter. 75.61% of the stock is currently owned by institutional investors.

Carnival Corp (NYSE CCL) opened at $69.58 on Thursday. The stock has a market capitalization of $37,098.21, a PE ratio of 19.38, a price-to-earnings-growth ratio of 1.16 and a beta of 0.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.18 and a quick ratio of 0.14. Carnival Corp has a 12-month low of $54.75 and a 12-month high of $72.70.

Carnival (NYSE:CCL) last posted its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.51 by $0.12. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the company earned $0.67 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. equities analysts anticipate that Carnival Corp will post 4.28 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 23rd will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Thursday, February 22nd. Carnival’s dividend payout ratio (DPR) is currently 32.03%.

In other news, General Counsel Arnaldo Perez sold 15,166 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $66.59, for a total value of $1,009,903.94. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Arnold W. Donald sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $65.57, for a total value of $327,850.00. The disclosure for this sale can be found here. Insiders sold 336,364 shares of company stock worth $22,622,361 in the last ninety days. Corporate insiders own 23.80% of the company’s stock.

Several research firms recently commented on CCL. Wells Fargo & Co increased their price objective on Carnival from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Morgan Stanley increased their price objective on Carnival from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. ValuEngine raised Carnival from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Credit Suisse Group increased their price objective on Carnival from $78.10 to $79.50 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Carnival in a research report on Friday, December 22nd. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Carnival has an average rating of “Buy” and a consensus price target of $73.82.

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About Carnival

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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Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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