Carnival Corporation (CCL) Holdings Cut by Zurich Insurance Group Ltd FI
Zurich Insurance Group Ltd FI decreased its holdings in shares of Carnival Corporation (NYSE:CCL) by 12.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,290 shares of the company’s stock after selling 10,214 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Carnival Corporation were worth $4,806,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of CCL. Pathstone Family Office LLC lifted its holdings in shares of Carnival Corporation by 200.0% in the 2nd quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock valued at $2,493,000 after buying an additional 38 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in shares of Carnival Corporation by 1.4% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after buying an additional 40 shares in the last quarter. Cleararc Capital Inc. grew its holdings in shares of Carnival Corporation by 0.6% during the first quarter. Cleararc Capital Inc. now owns 10,237 shares of the company’s stock worth $603,000 after buying an additional 63 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Carnival Corporation by 1.7% during the first quarter. Blair William & Co. IL now owns 4,214 shares of the company’s stock worth $241,000 after buying an additional 72 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Carnival Corporation by 1.7% during the second quarter. Ballentine Partners LLC now owns 4,523 shares of the company’s stock worth $305,000 after buying an additional 75 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.
In other news, insider Alan Buckelew sold 15,000 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $67.52, for a total transaction of $1,012,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 23.80% of the company’s stock.
CCL has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Carnival Corporation from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Tuesday, September 5th. UBS AG reaffirmed a “buy” rating and issued a $76.00 target price (up from $67.00) on shares of Carnival Corporation in a research note on Thursday, August 17th. Credit Suisse Group downgraded Carnival Corporation from an “outperform” rating to a “neutral” rating and cut their price target for the company from $78.00 to $70.00 in a report on Friday, September 15th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Carnival Corporation in a report on Tuesday, August 15th. Finally, BidaskClub raised Carnival Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Ten analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $65.07.
Carnival Corporation (CCL) traded down 0.63% on Monday, reaching $64.16. The company’s stock had a trading volume of 1,185,214 shares. The company has a market capitalization of $46.26 billion, a price-to-earnings ratio of 17.45 and a beta of 0.71. Carnival Corporation has a 1-year low of $45.80 and a 1-year high of $69.89. The stock has a 50 day moving average price of $67.69 and a 200-day moving average price of $63.59.
Carnival Corporation (NYSE:CCL) last posted its earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.09. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Carnival Corporation had a net margin of 15.53% and a return on equity of 12.15%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.92 earnings per share. Equities analysts predict that Carnival Corporation will post $3.70 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. Carnival Corporation’s dividend payout ratio (DPR) is 43.72%.
Carnival Corporation Profile
Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.
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