Conning Inc. boosted its position in shares of Carnival Corp. (NYSE:CCL) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,914 shares of the company’s stock after buying an additional 120 shares during the period. Conning Inc.’s holdings in Carnival Corp. were worth $482,000 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. Orbis Allan Gray Ltd bought a new stake in shares of Carnival Corp. during the first quarter worth $104,294,000. AXA boosted its stake in shares of Carnival Corp. by 0.4% in the first quarter. AXA now owns 67,100 shares of the company’s stock worth $3,541,000 after buying an additional 300 shares during the period. Sterling Ridge Capital Management LP boosted its stake in shares of Carnival Corp. by 23.2% in the first quarter. Sterling Ridge Capital Management LP now owns 64,833 shares of the company’s stock worth $3,421,000 after buying an additional 12,195 shares during the period. Mitra Capital LLC bought a new stake in shares of Carnival Corp. during the first quarter worth $7,506,000. Finally, Parametrica Management Ltd bought a new stake in shares of Carnival Corp. during the second quarter worth $331,000. Institutional investors and hedge funds own 77.99% of the company’s stock.
Carnival Corp. (NYSE:CCL) traded up 1.16% during midday trading on Friday, hitting $48.82. The stock had a trading volume of 4,481,452 shares. The stock has a market capitalization of $35.64 billion, a price-to-earnings ratio of 15.18 and a beta of 0.84. The company’s 50 day moving average price is $46.74 and its 200-day moving average price is $47.81. Carnival Corp. has a 52 week low of $40.52 and a 52 week high of $55.77.
Carnival Corp. (NYSE:CCL) last issued its quarterly earnings results on Monday, September 26th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.03. Carnival Corp. had a return on equity of 10.76% and a net margin of 15.10%. The company had revenue of $5.10 billion for the quarter. During the same quarter in the previous year, the business posted $1.75 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts anticipate that Carnival Corp. will post $8.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.40 annualized dividend and a dividend yield of 2.87%. Carnival Corp.’s payout ratio is 42.94%.
A number of brokerages have weighed in on CCL. Deutsche Bank AG began coverage on Carnival Corp. in a research report on Thursday. They issued a “hold” rating and a $48.00 price target on the stock. Wells Fargo & Co. reiterated a “buy” rating on shares of Carnival Corp. in a research report on Wednesday. Wedbush reiterated a “neutral” rating and issued a $54.00 price target on shares of Carnival Corp. in a research report on Tuesday. Buckingham Research upped their price target on Carnival Corp. from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 price target on shares of Carnival Corp. in a research report on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $55.97.
Carnival Corp. Company Profile
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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