Hayek Kallen Investment Management trimmed its position in shares of Carnival Corp (NYSE:CCL) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,539 shares of the company’s stock after selling 348 shares during the period. Hayek Kallen Investment Management’s holdings in Carnival were worth $1,422,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Manchester Financial Inc. acquired a new stake in shares of Carnival during the 2nd quarter worth $26,000. Doyle Wealth Management acquired a new stake in Carnival in the 2nd quarter valued at $26,000. Lenox Wealth Advisors LLC acquired a new stake in Carnival in the 3rd quarter valued at $28,000. Stonebridge Capital Advisors LLC acquired a new stake in Carnival in the 2nd quarter valued at $29,000. Finally, Massey Quick Simon & CO. LLC increased its holdings in Carnival by 579.6% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 700 shares of the company’s stock valued at $31,000 after purchasing an additional 597 shares in the last quarter. Institutional investors and hedge funds own 75.20% of the company’s stock.
In other Carnival news, Director Sir Jonathon Band sold 5,000 shares of Carnival stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $40.83, for a total value of $204,150.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 24.10% of the company’s stock.
Carnival stock remained flat at $$45.05 during mid-day trading on Friday. 2,686,600 shares of the company’s stock traded hands, compared to its average volume of 4,154,623. The company has a quick ratio of 0.25, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $23.64 billion, a PE ratio of 10.58, a P/E/G ratio of 1.05 and a beta of 1.11. Carnival Corp has a 12-month low of $39.92 and a 12-month high of $62.52. The firm’s fifty day simple moving average is $43.50 and its two-hundred day simple moving average is $47.49.
Carnival (NYSE:CCL) last posted its quarterly earnings results on Thursday, September 26th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.53 by $0.10. The firm had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.18 billion. Carnival had a net margin of 14.93% and a return on equity of 12.67%. As a group, analysts anticipate that Carnival Corp will post 4.27 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.00 annualized dividend and a yield of 4.44%. Carnival’s dividend payout ratio (DPR) is 46.95%.
Several brokerages recently issued reports on CCL. Buckingham Research lowered their price target on Carnival from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. They noted that the move was a valuation call. Citigroup lowered their price target on Carnival from $55.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Berenberg Bank reiterated a “sell” rating on shares of Carnival in a report on Saturday, November 2nd. Nomura lowered their price target on Carnival from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Finally, UBS Group cut shares of Carnival from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $60.00 to $47.00 in a research report on Friday, September 27th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $52.40.
Carnival Company Profile
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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