Carnival Corp (CCL) Shares Sold by Sound View Wealth Advisors LLC

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Sound View Wealth Advisors LLC lowered its position in Carnival Corp (NYSE:CCL) by 15.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 11,991 shares of the company’s stock after selling 2,110 shares during the period. Sound View Wealth Advisors LLC’s holdings in Carnival were worth $608,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. increased its position in Carnival by 87.2% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 543 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares in the last quarter. Essex Savings Bank purchased a new stake in Carnival during the 4th quarter worth about $29,000. Sontag Advisory LLC purchased a new stake in Carnival during the 4th quarter worth about $35,000. Doyle Wealth Management purchased a new stake in Carnival during the 4th quarter worth about $36,000. Finally, Berman Capital Advisors LLC purchased a new stake in Carnival during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 73.63% of the company’s stock.

Shares of NYSE:CCL opened at $51.61 on Friday. The company has a current ratio of 0.22, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. Carnival Corp has a 12-month low of $45.64 and a 12-month high of $67.69. The stock has a market capitalization of $27.20 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.25.

Carnival (NYSE:CCL) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. Carnival had a return on equity of 12.30% and a net margin of 16.03%. The firm had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period last year, the company earned $0.52 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Sell-side analysts expect that Carnival Corp will post 4.53 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Thursday, May 23rd. Carnival’s payout ratio is 46.95%.

A number of analysts recently commented on the company. ValuEngine cut Carnival from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Zacks Investment Research cut Carnival from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Deutsche Bank reiterated a “hold” rating and set a $59.00 price objective on shares of Carnival in a research report on Wednesday, March 27th. Buckingham Research dropped their price objective on Carnival from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Finally, Standpoint Research cut Carnival from a “buy” rating to a “hold” rating and set a $57.16 price objective for the company. in a research report on Wednesday, January 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $66.28.

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Carnival Profile

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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