Sage Rhino Capital LLC reduced its stake in shares of Carnival Corp (NYSE:CCL) by 6.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,081 shares of the company’s stock after selling 522 shares during the quarter. Sage Rhino Capital LLC’s holdings in Carnival were worth $376,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia increased its stake in shares of Carnival by 0.3% in the first quarter. Commonwealth Bank of Australia now owns 71,898 shares of the company’s stock valued at $3,639,000 after buying an additional 200 shares in the last quarter. Security National Bank of SO Dak increased its stake in shares of Carnival by 1.9% in the second quarter. Security National Bank of SO Dak now owns 12,365 shares of the company’s stock valued at $576,000 after buying an additional 228 shares in the last quarter. Hartford Investment Management Co. increased its stake in shares of Carnival by 0.4% in the second quarter. Hartford Investment Management Co. now owns 57,756 shares of the company’s stock valued at $2,689,000 after buying an additional 237 shares in the last quarter. Cubic Asset Management LLC increased its stake in shares of Carnival by 0.4% in the second quarter. Cubic Asset Management LLC now owns 63,764 shares of the company’s stock valued at $2,968,000 after buying an additional 249 shares in the last quarter. Finally, Holistic Financial Partners increased its stake in shares of Carnival by 6.3% in the second quarter. Holistic Financial Partners now owns 4,588 shares of the company’s stock valued at $214,000 after buying an additional 272 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.
CCL stock traded up $0.29 during midday trading on Monday, reaching $43.87. The stock had a trading volume of 292,295 shares, compared to its average volume of 4,404,803. The business has a fifty day simple moving average of $46.01 and a two-hundred day simple moving average of $49.85. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.38. The firm has a market cap of $23.16 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 1.07 and a beta of 1.09. Carnival Corp has a twelve month low of $42.42 and a twelve month high of $64.77.
Carnival (NYSE:CCL) last announced its quarterly earnings data on Thursday, September 26th. The company reported $2.63 EPS for the quarter, topping the Zacks’ consensus estimate of $2.53 by $0.10. The firm had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.18 billion. Carnival had a return on equity of 12.80% and a net margin of 14.93%. On average, equities analysts predict that Carnival Corp will post 4.27 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 4.56%. Carnival’s payout ratio is 46.95%.
In other news, Director Randall J. Weisenburger acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was purchased at an average cost of $46.50 per share, for a total transaction of $930,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.10% of the stock is owned by company insiders.
A number of analysts have recently weighed in on CCL shares. Berenberg Bank lowered Carnival from a “hold” rating to a “sell” rating in a research note on Friday. William Blair lowered Carnival from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 20th. Morgan Stanley lowered their target price on Carnival from $48.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday. Nomura lowered their target price on Carnival from $52.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Stifel Nicolaus lowered their target price on Carnival from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Friday. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $56.01.
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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