Metropolitan Life Insurance Co. NY lessened its holdings in shares of Carnival Corp (NYSE:CCL) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,899 shares of the company’s stock after selling 1,887 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Carnival were worth $3,490,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. CNB Bank grew its stake in Carnival by 448.6% during the 1st quarter. CNB Bank now owns 1,942 shares of the company’s stock valued at $127,000 after purchasing an additional 1,588 shares in the last quarter. Private Capital Group LLC grew its stake in Carnival by 2,911.6% during the 1st quarter. Private Capital Group LLC now owns 2,078 shares of the company’s stock valued at $136,000 after purchasing an additional 2,009 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Carnival in the 2nd quarter worth approximately $124,000. Signaturefd LLC acquired a new position in shares of Carnival in the 1st quarter worth approximately $180,000. Finally, Jump Trading LLC acquired a new position in shares of Carnival in the 1st quarter worth approximately $218,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.
CCL has been the subject of several research reports. Berenberg Bank upgraded Carnival from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Buckingham Research decreased their target price on Carnival from $84.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, May 25th. Zacks Investment Research upgraded Carnival from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Tuesday, May 22nd. Tigress Financial reiterated a “buy” rating on shares of Carnival in a research report on Friday, June 8th. Finally, Stifel Nicolaus decreased their target price on Carnival from $81.00 to $78.00 and set a “buy” rating for the company in a research report on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.00.
Carnival (NYSE:CCL) last announced its quarterly earnings results on Monday, June 25th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.09. The business had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.32 billion. Carnival had a return on equity of 12.31% and a net margin of 15.40%. The business’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. research analysts forecast that Carnival Corp will post 4.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Thursday, August 23rd. Carnival’s dividend payout ratio (DPR) is 52.36%.
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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