Other equities analysts have also issued reports about the stock. Credit Suisse Group AG reaffirmed an outperform rating and issued a $59.00 price objective on shares of Carnival Corp in a research report on Wednesday, December 21st. Barclays PLC reaffirmed an equal weight rating and issued a $56.00 price objective on shares of Carnival Corp in a research report on Wednesday, December 21st. Zacks Investment Research raised shares of Carnival Corp from a sell rating to a hold rating in a research report on Tuesday, December 13th. Sanford C. Bernstein raised shares of Carnival Corp from a market perform rating to an outperform rating and increased their price objective for the company from $52.00 to $63.00 in a research report on Tuesday, November 22nd. Finally, William Blair raised shares of Carnival Corp from a market perform rating to an outperform rating in a research report on Monday, March 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company. Carnival Corp has an average rating of Buy and a consensus target price of $55.84.
Carnival Corp (NYSE:CCL) opened at 58.60 on Tuesday. The company has a market capitalization of $42.54 billion, a price-to-earnings ratio of 15.75 and a beta of 0.73. The firm has a 50 day moving average of $56.49 and a 200-day moving average of $51.86. Carnival Corp has a 52-week low of $42.94 and a 52-week high of $59.12.
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The company also recently announced a quarterly dividend, which was paid on Friday, March 17th. Stockholders of record on Friday, February 24th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Wednesday, February 22nd. Carnival Corp’s dividend payout ratio (DPR) is 37.43%.
In other news, CFO David Bernstein sold 23,030 shares of Carnival Corp stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $55.88, for a total transaction of $1,286,916.40. Following the completion of the transaction, the chief financial officer now directly owns 127,297 shares of the company’s stock, valued at approximately $7,113,356.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sir Jonathon Band sold 6,276 shares of Carnival Corp stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $53.48, for a total transaction of $335,640.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 241,297 shares of company stock valued at $13,007,082. Insiders own 22.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Carnival Corp during the fourth quarter valued at $222,852,000. Capital World Investors boosted its stake in Carnival Corp by 1,172.4% in the third quarter. Capital World Investors now owns 3,690,000 shares of the company’s stock worth $180,146,000 after buying an additional 3,400,000 shares in the last quarter. Henderson Group PLC boosted its stake in Carnival Corp by 235.5% in the third quarter. Henderson Group PLC now owns 3,355,451 shares of the company’s stock worth $163,796,000 after buying an additional 2,355,220 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Carnival Corp during the fourth quarter worth about $78,979,000. Finally, Investec Asset Management LTD boosted its stake in Carnival Corp by 44.5% in the fourth quarter. Investec Asset Management LTD now owns 4,708,302 shares of the company’s stock worth $245,114,000 after buying an additional 1,449,738 shares in the last quarter. 79.45% of the stock is owned by hedge funds and other institutional investors.
Carnival Corp Company Profile
Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.
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