Paloma Partners Management Co Grows Holdings in Carnival Corp (CCL)

Paloma Partners Management Co grew its position in Carnival Corp (NYSE:CCL) by 151.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,054 shares of the company’s stock after acquiring an additional 17,513 shares during the period. Paloma Partners Management Co’s holdings in Carnival were worth $1,666,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CCL. BlackRock Inc. boosted its holdings in shares of Carnival by 5.5% in the first quarter. BlackRock Inc. now owns 31,448,549 shares of the company’s stock valued at $2,062,397,000 after acquiring an additional 1,644,059 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in Carnival by 15.6% during the first quarter. OppenheimerFunds Inc. now owns 9,178,493 shares of the company’s stock worth $601,926,000 after buying an additional 1,236,840 shares in the last quarter. Long Pond Capital LP purchased a new stake in Carnival during the second quarter worth about $51,309,000. Miller Howard Investments Inc. NY purchased a new stake in Carnival during the second quarter worth about $48,378,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in Carnival during the first quarter worth about $49,544,000. 75.64% of the stock is currently owned by institutional investors and hedge funds.

NYSE:CCL opened at $61.09 on Tuesday. The company has a quick ratio of 0.17, a current ratio of 0.22 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $33.60 billion, a PE ratio of 15.84, a PEG ratio of 1.09 and a beta of 0.92. Carnival Corp has a 1-year low of $56.45 and a 1-year high of $72.70.

Carnival (NYSE:CCL) last posted its quarterly earnings data on Thursday, September 27th. The company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.29 earnings per share. Research analysts anticipate that Carnival Corp will post 4.25 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 24th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Thursday, August 23rd. Carnival’s dividend payout ratio is presently 52.36%.

CCL has been the topic of a number of research analyst reports. ValuEngine raised shares of Carnival from a “sell” rating to a “hold” rating in a report on Wednesday, June 13th. Stifel Nicolaus boosted their price objective on shares of Carnival from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, June 19th. SunTrust Banks reduced 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. Wells Fargo & Co reduced 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. Finally, Deutsche Bank reduced 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $72.86.

In other news, General Counsel Arnaldo Perez sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $64.26, for a total value of $449,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.80% of the company’s stock.

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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Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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