Intercontinental Wealth Advisors LLC Boosts Holdings in Carnival Corp (NYSE:CCL)

Intercontinental Wealth Advisors LLC boosted its position in Carnival Corp (NYSE:CCL) by 73.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,310 shares of the company’s stock after purchasing an additional 1,821 shares during the quarter. Intercontinental Wealth Advisors LLC’s holdings in Carnival were worth $201,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Avestar Capital LLC lifted its stake in Carnival by 13.9% in the 1st quarter. Avestar Capital LLC now owns 1,609 shares of the company’s stock worth $77,000 after purchasing an additional 196 shares in the last quarter. Manchester Capital Management LLC raised its position in shares of Carnival by 9.7% during the 1st quarter. Manchester Capital Management LLC now owns 2,265 shares of the company’s stock valued at $115,000 after buying an additional 200 shares in the last quarter. Commonwealth Bank of Australia raised its position in shares of Carnival by 0.3% during the 1st quarter. Commonwealth Bank of Australia now owns 71,898 shares of the company’s stock valued at $3,639,000 after buying an additional 200 shares in the last quarter. Hartford Investment Management Co. raised its position in shares of Carnival by 0.4% during the 2nd quarter. Hartford Investment Management Co. now owns 57,756 shares of the company’s stock valued at $2,689,000 after buying an additional 237 shares in the last quarter. Finally, Wedbush Securities Inc. raised its position in shares of Carnival by 5.8% during the 1st quarter. Wedbush Securities Inc. now owns 4,328 shares of the company’s stock valued at $219,000 after buying an additional 239 shares in the last quarter. Institutional investors and hedge funds own 74.43% of the company’s stock.

Several research firms have recently weighed in on CCL. Wedbush lowered their price objective on shares of Carnival from $54.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Deutsche Bank lowered their price objective on shares of Carnival from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. Barclays cut shares of Carnival from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $69.00 to $55.00 in a research report on Friday, June 21st. ValuEngine upgraded shares of Carnival from a “strong sell” rating to a “sell” rating in a research report on Monday. Finally, Wells Fargo & Co lowered their price objective on shares of Carnival from $67.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $61.26.

In other news, Director Randall J. Weisenburger purchased 20,000 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were acquired at an average price of $46.50 per share, with a total value of $930,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Arnold W. Donald purchased 22,050 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was purchased at an average cost of $45.23 per share, for a total transaction of $997,321.50. The disclosure for this purchase can be found here. 24.10% of the stock is currently owned by company insiders.

Shares of CCL stock traded up $0.80 on Friday, hitting $45.10. 117,949 shares of the company’s stock traded hands, compared to its average volume of 3,858,388. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.22 and a current ratio of 0.27. Carnival Corp has a one year low of $43.97 and a one year high of $67.69. The company’s fifty day simple moving average is $46.14 and its 200 day simple moving average is $52.12. The stock has a market capitalization of $23.54 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 1.09 and a beta of 1.08.

Carnival (NYSE:CCL) last released its earnings results on Thursday, June 20th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.05. Carnival had a net margin of 15.09% and a return on equity of 12.15%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter last year, the firm earned $0.68 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carnival Corp will post 4.34 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Thursday, August 22nd. Carnival’s dividend payout ratio is currently 46.95%.

About Carnival

Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.

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Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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