Sumitomo Life Insurance Co. increased its position in shares of Carnival Corp (NYSE:CCL) by 3.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,209 shares of the company’s stock after buying an additional 670 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Carnival were worth $987,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of CCL. Manchester Financial Inc. acquired a new stake in Carnival during the 2nd quarter worth approximately $26,000. Advisory Alpha LLC acquired a new stake in Carnival during the 1st quarter worth approximately $29,000. Peddock Capital Advisors LLC acquired a new stake in Carnival during the 1st quarter worth approximately $35,000. Resources Investment Advisors Inc. lifted its position in Carnival by 823.5% during the 1st quarter. Resources Investment Advisors Inc. now owns 942 shares of the company’s stock worth $48,000 after acquiring an additional 840 shares during the period. Finally, First Mercantile Trust Co. lifted its position in Carnival by 24.0% during the 1st quarter. First Mercantile Trust Co. now owns 1,240 shares of the company’s stock worth $63,000 after acquiring an additional 240 shares during the period. 74.34% of the stock is owned by institutional investors.
CCL stock traded up $1.04 during midday trading on Thursday, hitting $46.46. 2,087,363 shares of the stock were exchanged, compared to its average volume of 3,932,241. The stock’s 50-day moving average is $46.39. The stock has a market capitalization of $24.52 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 1.07 and a beta of 1.08. Carnival Corp has a fifty-two week low of $44.58 and a fifty-two week high of $67.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.22 and a current ratio of 0.27.
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, topping the consensus estimate of $0.61 by $0.05. The firm 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%. Carnival’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. Analysts predict that Carnival Corp will post 4.34 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, August 22nd. This represents a $2.00 annualized dividend and a yield of 4.30%. Carnival’s dividend payout ratio is presently 46.95%.
Several analysts have recently commented on CCL shares. Barclays cut Carnival from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $69.00 to $55.00 in a report on Friday, June 21st. Wolfe Research cut Carnival from an “outperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Deutsche Bank reduced their price target on Carnival from $54.00 to $52.00 and set a “hold” rating for the company in a report on Friday, July 19th. Berenberg Bank cut Carnival from a “buy” rating to a “hold” rating and reduced their price target for the company from $60.00 to $48.00 in a report on Monday, July 1st. Finally, ValuEngine cut Carnival from a “sell” rating to a “strong sell” rating in a report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $61.72.
In related news, CEO Arnold W. Donald purchased 22,050 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was bought at an average price of $45.23 per share, with a total value of $997,321.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Randall J. Weisenburger purchased 20,000 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were bought at an average cost of $46.50 per share, with a total value of $930,000.00. The disclosure for this purchase can be found here. Insiders own 24.10% of the company’s stock.
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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