Carnival Corp (CCL) Position Reduced by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its position in shares of Carnival Corp (NYSE:CCL) by 11.3% in the third quarter, Holdings Channel reports. The institutional investor owned 7,487 shares of the company’s stock after selling 958 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Carnival were worth $477,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CCL. Moneta Group Investment Advisors LLC raised its holdings in Carnival by 213.9% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 12,557 shares of the company’s stock valued at $102,000 after buying an additional 8,557 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in Carnival during the 2nd quarter valued at $124,000. Mainstay Capital Management LLC ADV raised its holdings in Carnival by 1,262.1% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,320 shares of the company’s stock valued at $125,000 after buying an additional 5,856 shares during the last quarter. Palo Capital Inc. bought a new stake in Carnival during the 3rd quarter valued at $189,000. Finally, TRUE Private Wealth Advisors bought a new stake in Carnival during the 3rd quarter valued at $199,000. Institutional investors own 76.18% of the company’s stock.

Shares of NYSE CCL opened at $58.12 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.22 and a quick ratio of 0.17. Carnival Corp has a 12 month low of $53.47 and a 12 month high of $72.70. The firm has a market capitalization of $30.16 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 0.97 and a beta of 1.01.

Carnival (NYSE:CCL) last issued its quarterly earnings data on Thursday, September 27th. The company reported $2.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.80 billion. Carnival had a net margin of 17.15% and a return on equity of 12.30%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.29 EPS. Equities research analysts expect that Carnival Corp will post 4.25 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 23rd will be paid a $0.50 dividend. The ex-dividend date is Wednesday, November 21st. This represents a $2.00 annualized dividend and a dividend yield of 3.44%. Carnival’s payout ratio is 52.36%.

A number of research firms recently commented on CCL. Zacks Investment Research upgraded shares of Carnival from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. ValuEngine upgraded shares of Carnival from a “sell” rating to a “hold” rating in a report on Friday, September 14th. Deutsche Bank decreased their price objective on shares of Carnival from $68.00 to $65.00 and set a “hold” rating for the company in a report on Friday, September 28th. JPMorgan Chase & Co. restated a “hold” rating on shares of Carnival in a report on Thursday, October 11th. Finally, Goldman Sachs Group set a $70.00 price objective on shares of Carnival and gave the stock a “hold” rating in a report on Monday, September 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $72.86.

In related news, General Counsel Arnaldo Perez sold 7,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $64.26, for a total value of $449,820.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 23.80% of the stock is owned by company insiders.

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Carnival Company Profile

Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.

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Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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