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CIBC World Markets Inc. Has $3.05 Million Position in Carnival Corp (CCL)

CIBC World Markets Inc. decreased its position in shares of Carnival Corp (NYSE:CCL) by 33.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,819 shares of the company’s stock after selling 26,454 shares during the period. CIBC World Markets Inc.’s holdings in Carnival Corp were worth $3,053,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lodestar Investment Counsel LLC IL raised its position in shares of Carnival Corp by 2.6% in the first quarter. Lodestar Investment Counsel LLC IL now owns 12,050 shares of the company’s stock worth $710,000 after buying an additional 300 shares during the period. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Carnival Corp during the first quarter valued at $525,000. AT Bancorp raised its stake in shares of Carnival Corp by 28.3% in the first quarter. AT Bancorp now owns 19,423 shares of the company’s stock valued at $1,144,000 after buying an additional 4,283 shares during the period. Cadence Capital Management LLC raised its stake in shares of Carnival Corp by 12.0% in the fourth quarter. Cadence Capital Management LLC now owns 65,246 shares of the company’s stock valued at $3,397,000 after buying an additional 7,008 shares during the period. Finally, Private Wealth Partners LLC raised its stake in shares of Carnival Corp by 0.6% in the first quarter. Private Wealth Partners LLC now owns 15,650 shares of the company’s stock valued at $922,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 79.45% of the company’s stock.

Institutional Ownership by Quarter for Carnival Corp (NYSE:CCL)

Shares of Carnival Corp (NYSE:CCL) traded up 2.08% on Thursday, reaching $65.40. The company’s stock had a trading volume of 3,578,872 shares. Carnival Corp has a 52-week low of $42.94 and a 52-week high of $65.50. The firm has a 50 day moving average of $61.22 and a 200 day moving average of $56.43. The company has a market cap of $47.48 billion, a PE ratio of 16.12 and a beta of 0.73.

Carnival Corp (NYSE:CCL) last issued its quarterly earnings results on Tuesday, March 28th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.03. Carnival Corp had a net margin of 16.96% and a return on equity of 11.35%. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the business posted $0.39 EPS. Carnival Corp’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts predict that Carnival Corp will post $3.71 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Stockholders 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 annualized dividend and a dividend yield of 2.45%. This is a positive change from Carnival Corp’s previous quarterly dividend of $0.35. Carnival Corp’s dividend payout ratio (DPR) is presently 37.43%.

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A number of brokerages have recently issued reports on CCL. Argus raised Carnival Corp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $56.03 to $64.00 in a research report on Monday, February 27th. Instinet upped their price target on Carnival Corp from $61.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, March 29th. Zacks Investment Research raised Carnival Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, February 14th. Barclays PLC upped their target price 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. Finally, Wolfe Research raised Carnival Corp from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $57.28.

In related news, Director Richard Glasier sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $58.29, for a total value of $349,740.00. Following the completion of the transaction, the director now directly owns 26,684 shares of the company’s stock, valued at approximately $1,555,410.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sir John Parker sold 19,965 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $60.98, for a total transaction of $1,217,465.70. Following the completion of the transaction, the director now directly 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 22.00% of the company’s stock.

About Carnival Corp

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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