Earnest Partners LLC lessened its position in Carnival Corp (NYSE:CCL) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,546,634 shares of the company’s stock after selling 36,385 shares during the period. Carnival comprises 1.1% of Earnest Partners LLC’s portfolio, making the stock its 21st largest holding. Earnest Partners LLC owned about 0.48% of Carnival worth $118,546,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of CCL. BlackRock Inc. lifted its stake in shares of Carnival by 8.2% in the first quarter. BlackRock Inc. now owns 30,754,347 shares of the company’s stock worth $1,559,860,000 after buying an additional 2,336,518 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Carnival by 131.1% during the second quarter. JPMorgan Chase & Co. now owns 2,100,912 shares of the company’s stock valued at $96,473,000 after purchasing an additional 1,191,671 shares during the period. APG Asset Management N.V. lifted its position in Carnival by 34.4% during the second quarter. APG Asset Management N.V. now owns 2,960,094 shares of the company’s stock valued at $120,998,000 after purchasing an additional 757,188 shares during the period. Investec Asset Management LTD lifted its position in Carnival by 7,492.0% during the second quarter. Investec Asset Management LTD now owns 648,507 shares of the company’s stock valued at $357,000 after purchasing an additional 639,965 shares during the period. Finally, Long Pond Capital LP bought a new position in Carnival during the second quarter valued at approximately $25,835,000. Hedge funds and other institutional investors own 76.46% of the company’s stock.
Shares of CCL stock opened at $50.36 on Friday. Carnival Corp has a 12 month low of $42.42 and a 12 month high of $67.69. The stock has a market cap of $26.72 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.18 and a beta of 1.09. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.38. The company has a 50 day simple moving average of $45.52 and a two-hundred day simple moving average of $50.53.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, August 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 3.97%. Carnival’s dividend payout ratio is currently 46.95%.
CCL has been the topic of a number of research analyst reports. Wells Fargo & Co lowered their price objective on shares of Carnival from $67.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. William Blair downgraded shares of Carnival from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 20th. Nomura downgraded shares of Carnival from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $60.00 to $52.00 in a research report on Thursday, June 20th. Wolfe Research downgraded shares of Carnival from an “outperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Finally, Zacks Investment Research downgraded shares of Carnival from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $61.26.
In other news, Director Randall J. Weisenburger acquired 20,000 shares of Carnival stock in a transaction dated Wednesday, July 3rd. The stock was purchased at an average cost of $46.50 per share, with a total value of $930,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Arnold W. Donald acquired 22,050 shares of Carnival stock in a transaction dated Tuesday, June 25th. The stock was purchased at an average cost of $45.23 per share, with a total value of $997,321.50. The disclosure for this purchase can be found here. Corporate insiders own 24.10% of the company’s stock.
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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