Conning Inc. increased its position in Carnival Corp (NYSE:CCL) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 124,946 shares of the company’s stock after buying an additional 1,839 shares during the period. Conning Inc.’s holdings in Carnival were worth $5,816,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Carnival by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,364,611 shares of the company’s stock valued at $165,861,000 after purchasing an additional 212,303 shares in the last quarter. Geode Capital Management LLC grew its stake in Carnival by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 4,710,995 shares of the company’s stock valued at $231,797,000 after purchasing an additional 292,550 shares in the last quarter. Legacy Advisors LLC bought a new position in shares of Carnival during the 1st quarter worth approximately $117,000. Hennessy Advisors Inc. boosted its stake in shares of Carnival by 14.3% during the 1st quarter. Hennessy Advisors Inc. now owns 89,700 shares of the company’s stock worth $4,550,000 after acquiring an additional 11,200 shares during the period. Finally, Bank of Edwardsville bought a new position in shares of Carnival during the 1st quarter worth approximately $479,000. 74.34% of the stock is owned by institutional investors.
Several research analysts have recently commented on the company. Barclays downgraded Carnival from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $69.00 to $55.00 in a research note on Friday, June 21st. ValuEngine downgraded Carnival from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 11th. Berenberg Bank downgraded Carnival from a “buy” rating to a “hold” rating and reduced their target price for the stock from $60.00 to $48.00 in a research note on Monday, July 1st. Nomura downgraded Carnival from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $60.00 to $52.00 in a research note on Thursday, June 20th. Finally, SunTrust Banks reduced their target price on Carnival to $65.00 and set a “buy” rating for the company in a research note on Friday, June 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. Carnival presently has a consensus rating of “Hold” and a consensus target price of $61.72.
Carnival (NYSE:CCL) last released its quarterly earnings results on Thursday, June 20th. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. As a group, equities research analysts predict that Carnival Corp will post 4.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, August 22nd. This represents a $2.00 annualized dividend and a yield of 4.42%. Carnival’s payout ratio is currently 46.95%.
In other news, CEO Arnold W. Donald purchased 22,050 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was acquired at an average cost of $45.23 per share, with a total value of $997,321.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Randall J. Weisenburger acquired 20,000 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was bought at an average cost of $46.50 per share, with a total value of $930,000.00. The disclosure for this purchase can be found here. Company insiders own 24.10% of the company’s stock.
Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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