Glenmede Trust Co. NA cut its stake in shares of Carnival Corp (NYSE:CCL) by 6.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 92,481 shares of the company’s stock after selling 6,262 shares during the period. Glenmede Trust Co. NA’s holdings in Carnival were worth $6,137,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SeaCrest Wealth Management LLC acquired a new position in shares of Carnival during the 4th quarter valued at $123,000. Grove Bank & Trust lifted its holdings in shares of Carnival by 367.8% during the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock valued at $131,000 after acquiring an additional 1,600 shares in the last quarter. Focused Wealth Management Inc acquired a new position in shares of Carnival during the 4th quarter valued at $133,000. Avestar Capital LLC acquired a new position in shares of Carnival during the 4th quarter valued at $148,000. Finally, Delpha Capital Management LLC acquired a new position in shares of Carnival during the 4th quarter valued at $173,000. 76.72% of the stock is owned by institutional investors.
Several equities analysts recently weighed in on CCL shares. Barclays lifted their target price on shares of Carnival from $67.00 to $73.00 and gave the company an “equal weight” rating in a report on Thursday, December 21st. Zacks Investment Research upgraded shares of Carnival from a “sell” rating to a “hold” rating in a report on Thursday, December 7th. Morgan Stanley upgraded shares of Carnival from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $65.94 to $68.00 in a report on Wednesday, December 6th. Credit Suisse Group set a $72.00 target price on shares of Carnival and gave the company a “hold” rating in a report on Tuesday, December 12th. Finally, Tigress Financial restated a “buy” rating on shares of Carnival in a report on Friday, December 22nd. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $74.33.
Carnival (NYSE:CCL) last issued its quarterly earnings data on Thursday, March 22nd. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Carnival had a net margin of 14.73% and a return on equity of 12.04%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. equities analysts expect that Carnival Corp will post 4.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, February 23rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.79%. Carnival’s dividend payout ratio is currently 21.92%.
In other news, CEO Stein Kruse sold 60,665 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total value of $4,039,682.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David Bernstein sold 51,454 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $66.76, for a total transaction of $3,435,069.04. Following the completion of the sale, the chief financial officer now owns 67,371 shares in the company, valued at approximately $4,497,687.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 333,364 shares of company stock worth $22,422,561. Company insiders own 23.80% of the company’s stock.
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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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