Pineno Levin & Ford Asset Management Inc. Acquires New Stake in Carnival Corporation (CCL)
Pineno Levin & Ford Asset Management Inc. bought a new stake in Carnival Corporation (NYSE:CCL) during the third quarter, Holdings Channel reports. The firm bought 61,265 shares of the company’s stock, valued at approximately $2,991,000.
Other large investors have also recently added to or reduced their stakes in the company. Henderson Group PLC increased its position in Carnival Corporation by 235.5% in the third quarter. Henderson Group PLC now owns 3,355,451 shares of the company’s stock valued at $163,796,000 after buying an additional 2,355,220 shares in the last quarter. Bank of Montreal Can bought a new position in Carnival Corporation during the second quarter valued at approximately $101,474,000. Massachusetts Financial Services Co. MA increased its position in Carnival Corporation by 85.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,354,637 shares of the company’s stock valued at $104,075,000 after buying an additional 1,085,807 shares in the last quarter. American Century Companies Inc. increased its position in Carnival Corporation by 21.7% in the second quarter. American Century Companies Inc. now owns 4,199,272 shares of the company’s stock valued at $185,608,000 after buying an additional 750,017 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in Carnival Corporation during the third quarter valued at approximately $35,468,000. Hedge funds and other institutional investors own 79.04% of the company’s stock.
Carnival Corporation (NYSE:CCL) traded down 0.47% during mid-day trading on Friday, reaching $53.39. 1,337,077 shares of the company were exchanged. Carnival Corporation has a 1-year low of $40.52 and a 1-year high of $54.87. The stock has a 50-day moving average of $52.54 and a 200 day moving average of $48.33. The firm has a market capitalization of $38.76 billion, a P/E ratio of 14.35 and a beta of 0.65.
Carnival Corporation (NYSE:CCL) last posted its quarterly earnings data on Tuesday, December 20th. The company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The business earned $3.90 billion during the quarter, compared to the consensus estimate of $3.90 billion. Carnival Corporation had a return on equity of 11.35% and a net margin of 16.96%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 earnings per share. Equities research analysts forecast that Carnival Corporation will post $3.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, November 25th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Tuesday, November 22nd. Carnival Corporation’s payout ratio is currently 37.43%.
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Several research firms recently commented on CCL. Credit Suisse Group reaffirmed an “outperform” rating and issued a $59.00 price target on shares of Carnival Corporation in a research note on Wednesday, December 21st. Buckingham Research raised their price target on shares of Carnival Corporation from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, September 27th. Barclays PLC reaffirmed an “equal weight” rating and issued a $56.00 price target on shares of Carnival Corporation in a research note on Wednesday, December 21st. Deutsche Bank AG started coverage on shares of Carnival Corporation in a research report on Thursday, September 29th. They set a “hold” rating and a $48.00 target price on the stock. Finally, Sanford C. Bernstein raised shares of Carnival Corporation from a “market perform” rating to an “outperform” rating and raised their target price for the company from $52.00 to $63.00 in a research report on Tuesday, November 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.22.
In other news, CEO Arnold W. Donald sold 91,813 shares of the stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $46.67, for a total value of $4,284,912.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Arnaldo Perez sold 15,165 shares of the stock in a transaction that occurred on Thursday, December 29th. The shares were sold at an average price of $52.11, for a total value of $790,248.15. Following the completion of the sale, the general counsel now directly owns 88,789 shares of the company’s stock, valued at $4,626,794.79. The disclosure for this sale can be found here. 22.00% of the stock is owned by insiders.
About Carnival Corporation
Carnival Corporation is a leisure travel company. The Company is a cruise company and provides vacations to cruise destinations throughout the world. The Company aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) segments.
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