Retirement Systems of Alabama decreased its stake in shares of Carnival Corp. (NYSE:CCL) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 538,135 shares of the company’s stock after selling 5,441 shares during the period. Retirement Systems of Alabama’s holdings in Carnival Corp. were worth $23,786,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of CCL. Primecap Management Co. CA increased its stake in Carnival Corp. by 0.4% in the first quarter. Primecap Management Co. CA now owns 22,515,830 shares of the company’s stock valued at $1,188,160,000 after buying an additional 100,400 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Carnival Corp. by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 12,015,037 shares of the company’s stock valued at $634,034,000 after buying an additional 83,092 shares in the last quarter. Geode Capital Management LLC increased its stake in Carnival Corp. by 0.8% in the first quarter. Geode Capital Management LLC now owns 3,812,827 shares of the company’s stock valued at $200,820,000 after buying an additional 31,287 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Carnival Corp. by 17.3% in the first quarter. TIAA CREF Investment Management LLC now owns 2,340,640 shares of the company’s stock valued at $123,516,000 after buying an additional 345,560 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Carnival Corp. during the second quarter valued at approximately $101,474,000. 77.99% of the stock is owned by hedge funds and other institutional investors.
Carnival Corp. (NYSE:CCL) traded up 4.05% during midday trading on Tuesday, hitting $48.35. The stock had a trading volume of 7,849,792 shares. The stock has a market cap of $36.02 billion, a PE ratio of 16.66 and a beta of 0.84. Carnival Corp. has a one year low of $40.52 and a one year high of $55.77. The firm has a 50 day moving average price of $46.47 and a 200 day moving average price of $47.79.
Carnival Corp. (NYSE:CCL) last announced its earnings results on Monday, September 26th. The company reported $1.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.03. Carnival Corp. had a return on equity of 10.37% and a net margin of 14.00%. The firm had revenue of $5.10 billion for the quarter. During the same period in the previous year, the firm earned $1.75 EPS. Carnival Corp.’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts expect that Carnival Corp. will post $8.18 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 26th were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, August 24th. This represents a $1.40 annualized dividend and a yield of 2.90%. Carnival Corp.’s payout ratio is 48.44%.
A number of brokerages have recently issued reports on CCL. Bank of America Corp. set a $53.40 target price on Carnival Corp. and gave the stock a “buy” rating in a research note on Wednesday, September 21st. Buckingham Research increased their target price on Carnival Corp. from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Co. reissued an “outperform” rating on shares of Carnival Corp. in a research note on Thursday, June 30th. Zacks Investment Research downgraded Carnival Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Finally, Nomura reissued a “buy” rating and set a $62.00 target price on shares of Carnival Corp. in a research note on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the stock. Carnival Corp. has an average rating of “Buy” and a consensus price target of $56.92.
About Carnival Corp.
Carnival Corporation is a leisure travel company. The Company is a cruise company and provides vacations to cruise destinations throughout the world. The Company aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) segments.
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