Commonwealth Equity Services LLC trimmed its position in shares of Carnival Corp (NYSE:CCL) by 15.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,714 shares of the company’s stock after selling 6,636 shares during the period. Commonwealth Equity Services LLC’s holdings in Carnival were worth $1,760,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. First Merchants Corp boosted its position in Carnival by 6.3% during the fourth quarter. First Merchants Corp now owns 35,110 shares of the company’s stock worth $1,731,000 after purchasing an additional 2,072 shares during the period. Chartwell Investment Partners LLC boosted its position in Carnival by 10.0% during the fourth quarter. Chartwell Investment Partners LLC now owns 246,448 shares of the company’s stock worth $12,150,000 after purchasing an additional 22,373 shares during the period. Raymond James Trust N.A. boosted its position in Carnival by 6.0% during the third quarter. Raymond James Trust N.A. now owns 48,111 shares of the company’s stock worth $3,068,000 after purchasing an additional 2,724 shares during the period. MA Private Wealth bought a new position in Carnival during the fourth quarter worth $308,000. Finally, CWM LLC boosted its position in Carnival by 44.4% during the fourth quarter. CWM LLC now owns 1,435 shares of the company’s stock worth $71,000 after purchasing an additional 441 shares during the period. 75.85% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Stein Kruse sold 32,163 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $57.08, for a total transaction of $1,835,864.04. Following the completion of the sale, the chief executive officer now owns 92,198 shares of the company’s stock, valued at $5,262,661.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arnold W. Donald acquired 21,595 shares of the business’s stock in a transaction that occurred on Wednesday, December 26th. The shares were purchased at an average cost of $46.43 per share, with a total value of $1,002,655.85. The disclosure for this purchase can be found here. Insiders have sold 71,792 shares of company stock valued at $4,053,366 in the last ninety days. 24.10% of the stock is currently owned by company insiders.
Carnival (NYSE:CCL) last announced its earnings results on Thursday, December 20th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. The company had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Carnival had a net margin of 16.70% and a return on equity of 12.44%. Carnival’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 earnings per share. As a group, analysts anticipate that Carnival Corp will post 4.74 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 22nd will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, February 21st. This represents a $2.00 annualized dividend and a yield of 3.54%. Carnival’s dividend payout ratio is 46.95%.
A number of research firms have commented on CCL. Zacks Investment Research raised shares of Carnival from a “sell” rating to a “hold” rating in a research report on Wednesday, December 19th. Wolfe Research set a $73.00 price objective on shares of Carnival and gave the stock a “buy” rating in a research report on Tuesday, December 11th. Standpoint Research began coverage on shares of Carnival in a research report on Wednesday, December 26th. They set an “accumulate” rating for the company. Goldman Sachs Group raised shares of Carnival from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $63.00 to $65.00 in a research report on Wednesday. Finally, Deutsche Bank reduced their target price on shares of Carnival to $60.00 and set a “hold” rating for the company in a research report on Friday, December 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. Carnival has an average rating of “Buy” and a consensus target price of $69.70.
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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