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.
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%.
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.
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