Baltimore Capital Management Inc. Takes $697,000 Position in Carnival Corp (NYSE:CCL)

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Baltimore Capital Management Inc. purchased a new stake in Carnival Corp (NYSE:CCL) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,750 shares of the company’s stock, valued at approximately $697,000. Carnival comprises 1.1% of Baltimore Capital Management Inc.’s investment portfolio, making the stock its 27th largest position.

A number of other institutional investors and hedge funds have also modified their holdings of CCL. Whittier Trust Co. of Nevada Inc. raised its stake in Carnival by 87.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 543 shares of the company’s stock valued at $27,000 after buying an additional 253 shares in the last quarter. Advisory Alpha LLC acquired a new stake in Carnival during the first quarter valued at approximately $29,000. Sontag Advisory LLC acquired a new stake in Carnival during the fourth quarter valued at approximately $35,000. Doyle Wealth Management acquired a new stake in Carnival during the fourth quarter valued at approximately $36,000. Finally, Berman Capital Advisors LLC acquired a new stake in Carnival during the fourth quarter valued at approximately $39,000. 74.98% of the stock is owned by hedge funds and other institutional investors.

Shares of Carnival stock opened at $53.39 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.22. The company has a market cap of $28.14 billion, a PE ratio of 12.53, a P/E/G ratio of 1.10 and a beta of 1.22. Carnival Corp has a twelve month low of $45.64 and a twelve month high of $67.69.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Thursday, May 23rd. Carnival’s payout ratio is 46.95%.

Several analysts have issued reports on CCL shares. Nomura cut their price objective on Carnival from $66.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Buckingham Research cut their price objective on Carnival from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Goldman Sachs Group upgraded Carnival from a “neutral” rating to a “buy” rating and upped their price objective for the company from $63.00 to $65.00 in a research note on Wednesday, March 13th. Deutsche Bank restated a “hold” rating and set a $59.00 price objective on shares of Carnival in a research note on Wednesday, March 27th. Finally, Zacks Investment Research upgraded Carnival from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $66.28.

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Carnival Company 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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