Municipal Employees Retirement System of Michigan lowered its position in shares of Carnival Corporation (NYSE:CCL) by 14.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,210 shares of the company’s stock after selling 3,300 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Carnival Corporation were worth $1,305,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BTC Capital Management Inc. purchased a new position in shares of Carnival Corporation during the third quarter worth about $1,576,000. Intrust Bank NA grew its holdings in shares of Carnival Corporation by 16.3% during the third quarter. Intrust Bank NA now owns 6,620 shares of the company’s stock worth $427,000 after buying an additional 930 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Carnival Corporation during the third quarter worth about $12,791,000. BNP Paribas Arbitrage SA grew its holdings in shares of Carnival Corporation by 68.1% during the third quarter. BNP Paribas Arbitrage SA now owns 386,435 shares of the company’s stock worth $24,952,000 after buying an additional 156,599 shares during the last quarter. Finally, FDx Advisors Inc. grew its holdings in shares of Carnival Corporation by 6.0% during the third quarter. FDx Advisors Inc. now owns 115,251 shares of the company’s stock worth $7,442,000 after buying an additional 6,573 shares during the last quarter. Institutional investors and hedge funds own 76.71% of the company’s stock.
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Carnival Corporation (NYSE CCL) opened at $66.22 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.21 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $47,450.00, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.35 and a beta of 0.74. Carnival Corporation has a twelve month low of $49.73 and a twelve month high of $69.89.
Carnival Corporation (NYSE:CCL) last issued its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.09. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.39 billion. Carnival Corporation had a return on equity of 12.15% and a net margin of 15.53%. Carnival Corporation’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.92 EPS. equities research analysts anticipate that Carnival Corporation will post 3.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.72%. This is an increase from Carnival Corporation’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, November 22nd. Carnival Corporation’s dividend payout ratio is presently 43.60%.
A number of equities analysts recently issued reports on CCL shares. Bank of America Corporation reissued a “buy” rating and set a $73.20 price target on shares of Carnival Corporation in a report on Monday, July 24th. Zacks Investment Research lowered Carnival Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub lowered Carnival Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Carnival Corporation in a report on Tuesday, August 15th. Finally, UBS AG reaffirmed a “buy” rating and issued a $76.00 price objective (up previously from $67.00) on shares of Carnival Corporation in a report on Thursday, August 17th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $67.43.
About Carnival Corporation
Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.
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