Carnival Corporation (CCL) is Earnest Partners LLC’s 2nd Largest Position
Earnest Partners LLC cut its position in Carnival Corporation (NYSE:CCL) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,052,180 shares of the company’s stock after selling 171,361 shares during the quarter. Carnival Corporation accounts for about 2.1% of Earnest Partners LLC’s holdings, making the stock its 2nd biggest holding. Earnest Partners LLC owned about 0.42% of Carnival Corporation worth $200,131,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Carnival Corporation by 3.3% in the second quarter. Vanguard Group Inc. now owns 28,919,554 shares of the company’s stock valued at $1,896,255,000 after purchasing an additional 934,311 shares during the last quarter. BlackRock Inc. raised its position in Carnival Corporation by 2.0% in the second quarter. BlackRock Inc. now owns 28,469,248 shares of the company’s stock valued at $1,866,728,000 after purchasing an additional 550,116 shares during the last quarter. Bank of America Corp DE raised its position in Carnival Corporation by 6.5% in the first quarter. Bank of America Corp DE now owns 24,838,450 shares of the company’s stock valued at $1,463,234,000 after purchasing an additional 1,519,630 shares during the last quarter. State Street Corp raised its position in Carnival Corporation by 1.6% in the first quarter. State Street Corp now owns 17,999,377 shares of the company’s stock valued at $1,060,346,000 after purchasing an additional 284,607 shares during the last quarter. Finally, Investec Asset Management LTD raised its position in Carnival Corporation by 6.5% in the second quarter. Investec Asset Management LTD now owns 4,961,591 shares of the company’s stock valued at $325,332,000 after purchasing an additional 303,161 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.
CCL has been the subject of several research reports. Credit Suisse Group downgraded Carnival Corporation from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $78.00 to $70.00 in a research report on Friday, September 15th. Zacks Investment Research downgraded Carnival Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 target price on shares of Carnival Corporation in a research report on Friday, June 16th. KeyCorp downgraded Carnival Corporation to an “overweight” rating in a research report on Thursday, July 6th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $62.00 target price (up from $58.00) on shares of Carnival Corporation in a research report on Sunday, June 25th. Nine analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $65.60.
Carnival Corporation (NYSE:CCL) traded down 0.42% during midday trading on Friday, reaching $65.63. The company had a trading volume of 3,411,448 shares. The company has a 50-day moving average price of $66.47 and a 200-day moving average price of $64.22. The stock has a market capitalization of $47.32 billion, a price-to-earnings ratio of 17.85 and a beta of 0.71. Carnival Corporation has a one year low of $45.92 and a one year high of $69.89.
Carnival Corporation (NYSE:CCL) last released its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.09. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.39 billion. Carnival Corporation had a return on equity of 12.15% and a net margin of 15.53%. Carnival Corporation’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.92 EPS. On average, equities analysts expect that Carnival Corporation will post $3.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Wednesday, August 23rd. Carnival Corporation’s payout ratio is 43.72%.
In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $67.02, for a total transaction of $1,005,300.00. Following the completion of the transaction, the insider now owns 150,860 shares of the company’s stock, valued at approximately $10,110,637.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 23.80% of the company’s stock.
About Carnival Corporation
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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