Delphi Management Inc. MA Reduces Position in Carnival Corp (CCL)
Delphi Management Inc. MA decreased its stake in Carnival Corp (NYSE:CCL) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,914 shares of the company’s stock after selling 376 shares during the period. Delphi Management Inc. MA’s holdings in Carnival were worth $1,573,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in CCL. Capital World Investors increased its position in shares of Carnival by 94.4% during the third quarter. Capital World Investors now owns 16,838,371 shares of the company’s stock worth $1,073,783,000 after buying an additional 8,176,078 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Carnival by 4,485.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,764,160 shares of the company’s stock valued at $178,000 after buying an additional 8,573,046 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in shares of Carnival by 1.9% during the third quarter. OppenheimerFunds Inc. now owns 7,295,657 shares of the company’s stock valued at $465,245,000 after buying an additional 135,561 shares during the last quarter. London Co. of Virginia grew its holdings in shares of Carnival by 4.8% during the fourth quarter. London Co. of Virginia now owns 6,718,972 shares of the company’s stock valued at $331,246,000 after buying an additional 308,876 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Carnival by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 4,710,995 shares of the company’s stock valued at $231,797,000 after purchasing an additional 292,550 shares in the last quarter. 76.52% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on the stock. Cleveland Research raised shares of Carnival from a “neutral” rating to a “buy” rating in a research report on Monday, December 17th. Standpoint Research assumed coverage on shares of Carnival in a research report on Wednesday, December 26th. They issued an “accumulate” rating on the stock. Barclays reduced their price objective on shares of Carnival from $70.00 to $69.00 and set an “overweight” rating for the company in a research note on Friday, December 21st. Wells Fargo & Co cut their price target on shares of Carnival from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, January 10th. Finally, Macquarie upgraded shares of Carnival from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $58.00 to $66.00 in a report on Friday, January 25th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. Carnival presently has an average rating of “Buy” and an average price target of $67.39.
Carnival (NYSE:CCL) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.05. Carnival had a return on equity of 12.30% and a net margin of 16.03%. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts anticipate that Carnival Corp will post 4.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 22nd were given a $0.50 dividend. The ex-dividend date was Thursday, February 21st. This represents a $2.00 annualized dividend and a yield of 3.95%. Carnival’s dividend payout ratio is presently 46.95%.
In related news, General Counsel Arnaldo Perez sold 2,290 shares of the stock in a transaction on Friday, January 11th. The stock was sold at an average price of $52.27, for a total value of $119,698.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stein Kruse sold 32,163 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $57.08, for a total value of $1,835,864.04. Following the completion of the sale, the chief executive officer now owns 92,198 shares of the company’s stock, valued at $5,262,661.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,792 shares of company stock worth $4,053,366. Insiders own 24.10% of the company’s stock.
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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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