MetLife Investment Advisors LLC cut its holdings in shares of Carnival Corp (NYSE:CCL) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 119,508 shares of the company’s stock after selling 2,664 shares during the period. MetLife Investment Advisors LLC’s holdings in Carnival were worth $6,849,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CCL. BlackRock Inc. increased its position in shares of Carnival by 5.5% during the first quarter. BlackRock Inc. now owns 31,448,549 shares of the company’s stock worth $2,062,397,000 after purchasing an additional 1,644,059 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in shares of Carnival by 15.6% during the first quarter. OppenheimerFunds Inc. now owns 9,178,493 shares of the company’s stock valued at $601,926,000 after buying an additional 1,236,840 shares during the last quarter. Long Pond Capital LP purchased a new stake in shares of Carnival during the second quarter valued at $51,309,000. Miller Howard Investments Inc. NY purchased a new stake in shares of Carnival during the second quarter valued at $48,378,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of Carnival during the first quarter valued at $49,544,000. 75.64% of the stock is currently owned by institutional investors and hedge funds.
CCL has been the topic of several recent research reports. Deutsche Bank lowered their price target on shares of Carnival from $71.00 to $68.00 and set a “hold” rating on the stock in a report on Tuesday, June 26th. Stifel Nicolaus lowered their price target on shares of Carnival from $81.00 to $78.00 and set a “buy” rating on the stock in a report on Tuesday, June 26th. Wells Fargo & Co lowered their price target on shares of Carnival from $80.00 to $76.00 and set an “outperform” rating on the stock in a report on Tuesday, June 26th. Goldman Sachs Group set a $70.00 price target on shares of Carnival and gave the company a “hold” rating in a report on Monday, September 24th. Finally, SunTrust Banks lowered their price target on shares of Carnival to $79.00 and set a “buy” rating on the stock in a report on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $72.86.
Shares of Carnival stock opened at $61.09 on Tuesday. The stock has a market capitalization of $33.60 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.09 and a beta of 0.92. Carnival Corp has a fifty-two week low of $56.45 and a fifty-two week high of $72.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.22 and a quick ratio of 0.17.
Carnival (NYSE:CCL) last issued its quarterly earnings data on Thursday, September 27th. The company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.80 billion. Carnival had a net margin of 17.15% and a return on equity of 12.30%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.29 earnings per share. On average, sell-side analysts predict that Carnival Corp will post 4.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 24th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.27%. Carnival’s dividend payout ratio (DPR) is currently 52.36%.
Carnival Company Profile
Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.
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