LVW Advisors LLC boosted its stake in shares of Carnival Corp (NYSE:CCL) by 39.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,192 shares of the company’s stock after purchasing an additional 7,186 shares during the quarter. LVW Advisors LLC’s holdings in Carnival were worth $1,672,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. SeaCrest Wealth Management LLC purchased a new stake in Carnival during the 4th quarter worth about $123,000. Grove Bank & Trust increased its holdings in Carnival by 367.8% during the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock worth $131,000 after purchasing an additional 1,600 shares during the period. Smithfield Trust Co. increased its holdings in Carnival by 826.2% during the 3rd quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock worth $182,000 after purchasing an additional 2,520 shares during the period. Nine Chapters Capital Management LLC purchased a new stake in Carnival during the 3rd quarter worth about $200,000. Finally, First Allied Advisory Services Inc. purchased a new stake in Carnival during the 4th quarter worth about $215,000. Institutional investors own 75.61% of the company’s stock.
CCL has been the topic of several recent research reports. Buckingham Research restated a “buy” rating and set a $84.00 price target (up previously from $80.00) on shares of Carnival in a report on Wednesday, December 20th. Stifel Nicolaus upped their price target on Carnival from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. SunTrust Banks restated a “buy” rating and set a $84.00 price target (up previously from $72.00) on shares of Carnival in a report on Tuesday, December 19th. They noted that the move was a valuation call. ValuEngine raised Carnival from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Carnival in a research report on Friday, December 22nd. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Carnival presently has a consensus rating of “Buy” and an average target price of $73.82.
Carnival (NYSE:CCL) last announced its earnings results on Tuesday, December 19th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. The firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. research analysts anticipate that Carnival Corp will post 4.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, February 23rd will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.62%. Carnival’s dividend payout ratio (DPR) is presently 22.28%.
In related news, CEO Stein Kruse sold 60,665 shares of the company’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $66.59, for a total value of $4,039,682.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arnold W. Donald sold 5,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $65.57, for a total value of $327,850.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 336,364 shares of company stock valued at $22,622,361. Insiders own 23.80% of the company’s stock.
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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