Wetherby Asset Management Inc. cut its position in shares of Carnival Corp (NYSE:CCL) by 9.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,641 shares of the company’s stock after selling 575 shares during the period. Wetherby Asset Management Inc.’s holdings in Carnival Corp were worth $332,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Boston Advisors LLC raised its position in shares of Carnival Corp by 0.3% in the third quarter. Boston Advisors LLC now owns 11,025 shares of the company’s stock worth $538,000 after buying an additional 35 shares in the last quarter. Commonwealth Equity Services Inc raised its stake in Carnival Corp by 6.0% in the third quarter. Commonwealth Equity Services Inc now owns 20,819 shares of the company’s stock valued at $1,016,000 after buying an additional 1,187 shares during the period. Concert Wealth Management Inc. raised its stake in Carnival Corp by 1.1% in the third quarter. Concert Wealth Management Inc. now owns 5,434 shares of the company’s stock valued at $268,000 after buying an additional 59 shares during the period. Great West Life Assurance Co. Can raised its stake in Carnival Corp by 7.9% in the third quarter. Great West Life Assurance Co. Can now owns 627,317 shares of the company’s stock valued at $30,635,000 after buying an additional 45,940 shares during the period. Finally, Rowland & Co. Investment Counsel ADV raised its stake in Carnival Corp by 0.4% in the third quarter. Rowland & Co. Investment Counsel ADV now owns 2,315 shares of the company’s stock valued at $113,000 after buying an additional 9 shares during the period. 79.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of Carnival Corp (NYSE:CCL) traded down 1.29% during midday trading on Friday, hitting $61.19. The stock had a trading volume of 2,813,074 shares. The stock has a 50-day moving average price of $60.03 and a 200-day moving average price of $55.14. Carnival Corp has a 12-month low of $42.94 and a 12-month high of $63.41. The stock has a market cap of $44.42 billion, a P/E ratio of 15.08 and a beta of 0.73.
Carnival Corp (NYSE:CCL) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.78 billion. Carnival Corp had a net margin of 16.96% and a return on equity of 11.35%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. Equities analysts forecast that Carnival Corp will post $3.71 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, May 26th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, May 24th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.61%. This is a positive change from Carnival Corp’s previous quarterly dividend of $0.35. Carnival Corp’s dividend payout ratio (DPR) is 37.43%.
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Several analysts recently commented on the company. Wedbush raised their target price on Carnival Corp from $54.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, March 29th. Stifel Nicolaus increased their price target on Carnival Corp from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, March 29th. Barclays PLC increased their price target on Carnival Corp from $56.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 29th. Deutsche Bank AG increased their price target on Carnival Corp from $50.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, March 29th. Finally, Instinet raised their target price on Carnival Corp from $61.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, March 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. Carnival Corp has an average rating of “Buy” and a consensus price target of $57.28.
In related news, Director Sir John Parker sold 19,965 shares of Carnival Corp stock in a transaction on Friday, April 28th. The shares were sold at an average price of $60.98, for a total value of $1,217,465.70. Following the completion of the sale, the director now owns 22,798 shares of the company’s stock, valued at approximately $1,390,222.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Bernstein sold 23,030 shares of Carnival Corp stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $55.88, for a total transaction of $1,286,916.40. Following the completion of the sale, the chief financial officer now directly owns 127,297 shares of the company’s stock, valued at approximately $7,113,356.36. The disclosure for this sale can be found here. Insiders have sold a total of 125,206 shares of company stock valued at $7,112,793 in the last three months. Company insiders own 22.00% of the company’s stock.
Carnival Corp Company Profile
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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