Earnest Partners LLC lessened its position in Carnival Corp (NYSE:CCL) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,546,634 shares of the company’s stock after selling 36,385 shares during the quarter. Carnival accounts for 1.1% of Earnest Partners LLC’s portfolio, making the stock its 21st largest position. Earnest Partners LLC’s holdings in Carnival were worth $118,546,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Advisory Alpha LLC bought a new stake in shares of Carnival in the 1st quarter worth about $29,000. Manchester Financial Inc. acquired a new stake in Carnival in the 2nd quarter worth approximately $26,000. Peddock Capital Advisors LLC acquired a new stake in Carnival in the 1st quarter worth approximately $35,000. Berman Capital Advisors LLC boosted its stake in Carnival by 92.1% in the 2nd quarter. Berman Capital Advisors LLC now owns 920 shares of the company’s stock worth $42,000 after purchasing an additional 441 shares in the last quarter. Finally, Resources Investment Advisors Inc. boosted its stake in 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 purchasing an additional 840 shares in the last quarter. Hedge funds and other institutional investors own 76.46% of the company’s stock.
A number of research firms recently commented on CCL. Wells Fargo & Co lowered their target price on shares of Carnival from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. Wedbush lowered their target price on shares of Carnival from $54.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Berenberg Bank cut shares of Carnival from a “buy” rating to a “hold” rating and lowered their target price for the stock from $60.00 to $48.00 in a research note on Monday, July 1st. Wolfe Research cut shares of Carnival from an “outperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Finally, Nomura cut shares of Carnival from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $60.00 to $52.00 in a research note on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Carnival has a consensus rating of “Hold” and a consensus price target of $61.26.
Shares of NYSE CCL opened at $50.36 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.38. Carnival Corp has a 12 month low of $42.42 and a 12 month high of $67.69. The company has a 50 day simple moving average of $45.52 and a two-hundred day simple moving average of $50.53. The stock has a market cap of $26.72 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.18 and a beta of 1.09.
Carnival (NYSE:CCL) last announced its quarterly earnings data on Thursday, June 20th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. Carnival had a net margin of 15.09% and a return on equity of 12.15%. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the previous year, the business posted $0.68 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Analysts forecast that Carnival Corp will post 4.33 EPS for the current year.
The firm also recently disclosed 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 3.97%. The ex-dividend date is Thursday, August 22nd. Carnival’s payout ratio is 46.95%.
In other Carnival news, CEO Arnold W. Donald acquired 22,050 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was acquired at an average cost of $45.23 per share, for a total transaction of $997,321.50. The purchase 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 that occurred on Wednesday, July 3rd. The stock was purchased 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. Insiders own 24.10% of the company’s stock.
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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