Denali Advisors LLC bought a new position in Carnival Corp (NYSE:CCL) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 198,400 shares of the company’s stock, valued at approximately $9,236,000.
Other large investors have also added to or reduced their stakes in the company. Advisory Alpha LLC purchased a new stake in shares of Carnival in the 1st quarter worth about $29,000. Peddock Capital Advisors LLC purchased a new stake in shares of Carnival in the 1st quarter worth about $35,000. Resources Investment Advisors Inc. grew its position in shares of Carnival by 823.5% in the 1st quarter. Resources Investment Advisors Inc. now owns 942 shares of the company’s stock worth $48,000 after buying an additional 840 shares during the period. First Mercantile Trust Co. grew its position in shares of Carnival by 24.0% in the 1st quarter. First Mercantile Trust Co. now owns 1,240 shares of the company’s stock worth $63,000 after buying an additional 240 shares during the period. Finally, Executive Wealth Management LLC grew its position in shares of Carnival by 23,050.0% in the 1st quarter. Executive Wealth Management LLC now owns 1,389 shares of the company’s stock worth $70,000 after buying an additional 1,383 shares during the period. 74.84% of the stock is currently owned by hedge funds and other institutional investors.
CCL traded up $1.10 during midday trading on Tuesday, hitting $46.20. 4,392,200 shares of the company traded hands, compared to its average volume of 4,107,873. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.38. The firm has a market cap of $24.32 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 1.07 and a beta of 1.09. The firm has a 50-day moving average of $48.20. Carnival Corp has a 52 week low of $44.76 and a 52 week high of $67.69.
Carnival (NYSE:CCL) last posted its earnings results on Thursday, June 20th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.49 billion. Carnival had a net margin of 15.09% and a return on equity of 12.15%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS. On average, analysts expect that Carnival Corp will post 4.34 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 23rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Thursday, August 22nd. Carnival’s dividend payout ratio is currently 46.95%.
CCL has been the topic of a number of recent research reports. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 100 ($1.31) target price on shares of in a research report on Monday, July 1st. Wedbush set a $130.00 price target on shares of Childrens Place and gave the stock a “buy” rating in a research note on Friday, June 21st. SunTrust Banks dropped their price target on shares of Carnival to $65.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Zacks Investment Research cut shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Finally, ValuEngine upgraded shares of Zillow Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. Carnival currently has an average rating of “Hold” and an average target price of $61.72.
In related news, CEO Arnold W. Donald bought 22,050 shares of the stock in a transaction on Tuesday, June 25th. The shares were acquired at an average price of $45.23 per share, for a total transaction of $997,321.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Randall J. Weisenburger bought 20,000 shares of the stock in a transaction on Wednesday, July 3rd. The shares were bought at an average price of $46.50 per share, for a total transaction of $930,000.00. The disclosure for this purchase can be found here. 24.10% of the stock is currently owned by corporate insiders.
Carnival Company Profile
Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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