Prudential Financial Inc. increased its stake in Carnival Corporation (NYSE:CCL) by 5.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 642,304 shares of the company’s stock after buying an additional 31,800 shares during the period. Prudential Financial Inc. owned about 0.09% of Carnival Corporation worth $37,838,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Dubuque Bank & Trust Co. bought a new position in Carnival Corporation during the first quarter valued at about $106,000. Independent Advisor Alliance acquired a new position in shares of Carnival Corporation during the fourth quarter worth $128,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Carnival Corporation during the fourth quarter worth $131,000. Wesbanco Bank Inc. acquired a new position in shares of Carnival Corporation during the first quarter worth $201,000. Finally, Burney Co. acquired a new position in shares of Carnival Corporation during the fourth quarter worth $207,000. 78.81% of the stock is owned by hedge funds and other institutional investors.
Carnival Corporation (CCL) traded up 1.16% during midday trading on Friday, reaching $66.45. The company’s stock had a trading volume of 4,000,199 shares. The firm has a market capitalization of $48.24 billion, a PE ratio of 16.38 and a beta of 0.77. The stock’s 50-day moving average price is $63.28 and its 200 day moving average price is $57.81. Carnival Corporation has a 1-year low of $42.94 and a 1-year high of $66.56.
Carnival Corporation (NYSE:CCL) last released its quarterly earnings data on Thursday, June 22nd. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. Carnival Corporation had a return on equity of 11.25% and a net margin of 18.09%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company posted $0.49 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. Equities analysts anticipate that Carnival Corporation will post $3.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, May 26th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, May 24th. This is a positive change from Carnival Corporation’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.41%. Carnival Corporation’s dividend payout ratio (DPR) is 39.60%.
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A number of brokerages have weighed in on CCL. Instinet boosted their target price on Carnival Corporation from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $57.00 price objective (up from $55.00) on shares of Carnival Corporation in a research note on Tuesday. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price target on shares of Carnival Corporation in a report on Friday, June 16th. William Blair reaffirmed an “outperform” rating on shares of Carnival Corporation in a report on Friday, June 9th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $74.00 price objective (up from $69.00) on shares of Carnival Corporation in a report on Saturday, June 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $58.71.
In other news, Director Richard Glasier sold 6,000 shares of the firm’s stock in a transaction dated Thursday, April 13th. The stock was sold at an average price of $58.29, for a total transaction of $349,740.00. Following the completion of the sale, the director now directly owns 26,684 shares in the company, valued at $1,555,410.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sir John Parker sold 19,965 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 22,798 shares of the company’s stock, valued at $1,390,222.04. The disclosure for this sale can be found here. Company insiders own 23.80% of the company’s stock.
Carnival Corporation 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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