Sit Investment Associates Inc. Buys New Holdings in Carnival Corporation (CCL)

Sit Investment Associates Inc. bought a new position in Carnival Corporation (NYSE:CCL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 212,450 shares of the company’s stock, valued at approximately $14,100,000.

Several other hedge funds also recently modified their holdings of CCL. Federated Investors Inc. PA increased its stake in shares of Carnival by 49.4% in the second quarter. Federated Investors Inc. PA now owns 8,169 shares of the company’s stock valued at $536,000 after buying an additional 2,700 shares during the period. Eaton Vance Management acquired a new stake in shares of Carnival in the second quarter valued at about $1,028,000. Franklin Resources Inc. increased its stake in shares of Carnival by 0.5% in the second quarter. Franklin Resources Inc. now owns 1,210,334 shares of the company’s stock valued at $79,362,000 after buying an additional 6,044 shares during the period. Aberdeen Asset Management PLC UK increased its stake in shares of Carnival by 12.6% in the second quarter. Aberdeen Asset Management PLC UK now owns 128,253 shares of the company’s stock valued at $8,410,000 after buying an additional 14,385 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Carnival by 15.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,663 shares of the company’s stock valued at $568,000 after buying an additional 1,190 shares during the period. 75.91% of the stock is owned by institutional investors.

Several equities research analysts recently commented on CCL shares. Barclays raised their target price on Carnival from $67.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 21st. Credit Suisse Group cut Carnival from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $78.00 to $70.00 in a research note on Friday, September 15th. Morgan Stanley raised Carnival from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $65.94 to $68.00 in a research note on Wednesday, December 6th. Zacks Investment Research raised Carnival from a “sell” rating to a “hold” rating in a research note on Thursday, December 7th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Carnival in a research note on Friday, December 22nd. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $72.78.

In other Carnival news, General Counsel Arnaldo Perez sold 15,166 shares of the firm’s stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $66.59, for a total value of $1,009,903.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Bernstein sold 11,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $66.50, for a total value of $731,500.00. Following the completion of the sale, the chief financial officer now directly owns 30,443 shares of the company’s stock, valued at $2,024,459.50. The disclosure for this sale can be found here. Insiders sold 351,545 shares of company stock valued at $23,490,789 over the last three months. Company insiders own 23.80% of the company’s stock.

Shares of Carnival Corporation (NYSE:CCL) opened at $67.95 on Thursday. The company has a current ratio of 0.18, a quick ratio of 0.14 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $48,610.00, a P/E ratio of 18.93, a P/E/G ratio of 1.18 and a beta of 0.73. Carnival Corporation has a 52-week low of $52.65 and a 52-week high of $69.89.

Carnival (NYSE:CCL) last released its earnings results on Tuesday, December 19th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.12. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period last year, the business posted $0.67 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. research analysts anticipate that Carnival Corporation will post 4.25 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 24th were given a $0.45 dividend. This is an increase from Carnival’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Wednesday, November 22nd. Carnival’s dividend payout ratio (DPR) is currently 44.57%.

ILLEGAL ACTIVITY NOTICE: This story was originally published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this story on another website, it was copied illegally and reposted in violation of United States & international trademark and copyright legislation. The original version of this story can be accessed at https://sportsperspectives.com/2018/01/11/sit-investment-associates-inc-buys-new-holdings-in-carnival-corporation-ccl.html.

Carnival Company 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.

Want to see what other hedge funds are holding CCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carnival Corporation (NYSE:CCL).

Institutional Ownership by Quarter for Carnival (NYSE:CCL)

Receive News & Ratings for Carnival Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply