Assetmark Inc. Increases Stake in Carnival Corporation (CCL)

Assetmark Inc. increased its position in shares of Carnival Corporation (NYSE:CCL) by 24,313.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,400 shares of the company’s stock after purchasing an additional 87,042 shares during the period. Assetmark Inc.’s holdings in Carnival Corporation were worth $5,643,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CCL. Alliancebernstein L.P. raised its holdings in Carnival Corporation by 316.9% during the second quarter. Alliancebernstein L.P. now owns 4,236,266 shares of the company’s stock worth $277,772,000 after purchasing an additional 3,220,191 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Carnival Corporation by 115.5% in the second quarter. Janus Henderson Group PLC now owns 3,088,143 shares of the company’s stock valued at $202,505,000 after purchasing an additional 1,655,345 shares during the last quarter. Numeric Investors LLC grew its position in shares of Carnival Corporation by 160.4% in the second quarter. Numeric Investors LLC now owns 2,416,066 shares of the company’s stock valued at $158,421,000 after purchasing an additional 1,488,366 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Carnival Corporation by 4,220.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,496,929 shares of the company’s stock valued at $98,154,000 after purchasing an additional 1,462,278 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Carnival Corporation by 657.0% in the second quarter. Acadian Asset Management LLC now owns 1,252,031 shares of the company’s stock valued at $82,095,000 after purchasing an additional 1,086,627 shares during the last quarter. 76.71% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Arnold W. Donald sold 5,000 shares of Carnival Corporation stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $65.43, for a total value of $327,150.00. Following the completion of the transaction, the chief executive officer now directly owns 115,572 shares of the company’s stock, valued at approximately $7,561,875.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arnold W. Donald sold 90,903 shares of Carnival Corporation stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $67.41, for a total transaction of $6,127,771.23. The disclosure for this sale can be found here. Insiders own 23.80% of the company’s stock.

Shares of Carnival Corporation (NYSE CCL) traded up $0.24 during mid-day trading on Thursday, hitting $66.79. 1,658,526 shares of the stock were exchanged, compared to its average volume of 3,159,821. Carnival Corporation has a fifty-two week low of $49.73 and a fifty-two week high of $69.89. The stock has a market cap of $47,790.00, a P/E ratio of 17.36, a PEG ratio of 1.37 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.16 and a current ratio of 0.21.

Carnival Corporation (NYSE:CCL) last released its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.09. Carnival Corporation had a net margin of 15.53% and a return on equity of 12.15%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the firm posted $1.92 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. equities analysts forecast that Carnival Corporation will post 3.7 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be paid a dividend of $0.45 per share. This is an increase from Carnival Corporation’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, November 22nd. This represents a $1.80 annualized dividend and a yield of 2.70%. Carnival Corporation’s payout ratio is 43.60%.

Several research firms have recently commented on CCL. Zacks Investment Research upgraded shares of Carnival Corporation from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Tuesday, September 5th. UBS Group AG reiterated a “buy” rating and issued a $76.00 price target (up from $67.00) on shares of Carnival Corporation in a research report on Thursday, August 17th. Credit Suisse Group lowered shares of Carnival Corporation from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $78.00 to $70.00 in a research report on Friday, September 15th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Carnival Corporation in a research report on Tuesday, August 15th. Finally, BidaskClub upgraded shares of Carnival Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $67.71.

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Carnival Corporation Profile

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.

Institutional Ownership by Quarter for Carnival Corporation (NYSE:CCL)

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