Landscape Capital Management L.L.C. boosted its holdings in Carnival Corp (NYSE:CCL) by 48.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,544 shares of the company’s stock after purchasing an additional 25,609 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Carnival were worth $3,656,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Manchester Financial Inc. acquired a new position in shares of Carnival during the 2nd quarter worth about $26,000. Advisory Alpha LLC purchased a new stake in shares of Carnival in the 1st quarter valued at approximately $29,000. Peddock Capital Advisors LLC purchased a new stake in shares of Carnival in the 1st quarter valued at approximately $35,000. Berman Capital Advisors LLC grew its stake in shares of Carnival by 92.1% in the 2nd quarter. Berman Capital Advisors LLC now owns 920 shares of the company’s stock valued at $42,000 after buying an additional 441 shares during the period. Finally, Ashburton Jersey Ltd purchased a new stake in shares of Carnival in the 2nd quarter valued at approximately $47,000. Institutional investors and hedge funds own 74.43% of the company’s stock.
Several research firms have recently weighed in on CCL. Barclays cut shares of Carnival from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $69.00 to $55.00 in a research note on Friday, June 21st. Zacks Investment Research cut shares of Carnival from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. SunTrust Banks lowered their price objective on shares of Carnival to $65.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Wolfe Research cut shares of Carnival from an “outperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Finally, William Blair cut shares of Carnival from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $61.26.
In related news, CEO Arnold W. Donald bought 22,050 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was bought at an average cost of $45.23 per share, for a total transaction of $997,321.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Randall J. Weisenburger bought 20,000 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were bought at an average price of $46.50 per share, with a total value of $930,000.00. The disclosure for this purchase can be found here. 24.10% of the stock is currently owned by insiders.
CCL traded down $0.32 during trading on Thursday, reaching $44.39. 263,424 shares of the company’s stock were exchanged, compared to its average volume of 3,918,516. Carnival Corp has a fifty-two week low of $44.37 and a fifty-two week high of $67.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.27 and a quick ratio of 0.22. The firm has a 50 day moving average of $46.17. The company has a market cap of $23.56 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.08 and a beta of 1.08.
Carnival (NYSE:CCL) last issued its quarterly earnings data on Thursday, June 20th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.05. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the business earned $0.68 earnings per share. Sell-side analysts anticipate that Carnival Corp will post 4.34 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $2.00 annualized dividend and a dividend yield of 4.51%. Carnival’s payout ratio is currently 46.95%.
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.
Further Reading: SEC Filing
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