Verition Fund Management LLC increased its stake in shares of Carnival Corp (NYSE:CCL) by 217.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,738 shares of the company’s stock after purchasing an additional 25,175 shares during the quarter. Verition Fund Management LLC’s holdings in Carnival were worth $2,409,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hilltop Holdings Inc. acquired a new position in Carnival in the first quarter valued at approximately $226,000. Highland Capital Management LP acquired a new stake in Carnival in the first quarter worth $328,000. Cubist Systematic Strategies LLC raised its holdings in Carnival by 21.4% in the first quarter. Cubist Systematic Strategies LLC now owns 24,349 shares of the company’s stock worth $1,597,000 after purchasing an additional 4,288 shares during the period. Guggenheim Capital LLC raised its holdings in Carnival by 4.5% in the first quarter. Guggenheim Capital LLC now owns 578,444 shares of the company’s stock worth $37,932,000 after purchasing an additional 25,168 shares during the period. Finally, Mariner LLC acquired a new stake in Carnival in the first quarter worth $262,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of Carnival opened at $57.31 on Friday, MarketBeat.com reports. Carnival Corp has a 1 year low of $56.79 and a 1 year high of $72.70. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.14 and a current ratio of 0.24. The company has a market cap of $30.33 billion, a P/E ratio of 15.00, a P/E/G ratio of 0.90 and a beta of 0.86.
Carnival (NYSE:CCL) last posted its earnings results on Monday, June 25th. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.09. Carnival had a net margin of 15.40% and a return on equity of 12.31%. The firm had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same period in the previous year, the firm posted $0.52 EPS. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. equities research analysts forecast that Carnival Corp will post 4.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, May 25th were paid a $0.50 dividend. This is a positive change from Carnival’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Thursday, May 24th. Carnival’s dividend payout ratio is currently 52.36%.
In other news, General Counsel Arnaldo Perez sold 7,000 shares of the company’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $64.01, for a total value of $448,070.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Arnold W. Donald sold 5,000 shares of the company’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $62.91, for a total transaction of $314,550.00. Following the completion of the sale, the chief executive officer now directly owns 132,648 shares in the company, valued at $8,344,885.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,000 shares of company stock worth $1,402,020. Insiders own 23.80% of the company’s stock.
A number of equities research analysts recently commented on CCL shares. ValuEngine lowered shares of Carnival from a “hold” rating to a “sell” rating in a report on Wednesday, June 6th. Credit Suisse Group set a $84.00 price objective on shares of Carnival and gave the company a “buy” rating in a research report on Wednesday, April 11th. Deutsche Bank lifted their price objective on shares of Carnival from $70.00 to $71.00 and gave the company a “hold” rating in a research report on Friday, March 23rd. SunTrust Banks decreased their price objective on shares of Carnival to $79.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Buckingham Research cut their target price on shares of Carnival from $84.00 to $83.00 and set a “buy” rating for the company in a research note on Friday, May 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Carnival currently has a consensus rating of “Buy” and a consensus price target of $75.01.
Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.
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