Jolley Asset Management LLC Has $4.79 Million Holdings in Carnival Corp (NYSE:CCL)
Jolley Asset Management LLC decreased its position in Carnival Corp (NYSE:CCL) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,134 shares of the company’s stock after selling 4,476 shares during the quarter. Carnival comprises approximately 2.7% of Jolley Asset Management LLC’s investment portfolio, making the stock its 15th biggest position. Jolley Asset Management LLC’s holdings in Carnival were worth $4,785,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of CCL. Nuveen Asset Management LLC lifted its stake in Carnival by 12,460.0% during the second quarter. Nuveen Asset Management LLC now owns 4,311,837 shares of the company’s stock worth $200,716,000 after purchasing an additional 4,277,507 shares during the last quarter. HG Vora Capital Management LLC purchased a new position in Carnival in the 2nd quarter valued at approximately $58,188,000. River & Mercantile Asset Management LLP purchased a new position in Carnival in the 3rd quarter valued at approximately $26,273,000. ZWJ Investment Counsel Inc. purchased a new position in Carnival in the 3rd quarter valued at approximately $19,383,000. Finally, Eagle Asset Management Inc. grew its stake in Carnival by 18.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 2,437,705 shares of the company’s stock valued at $106,552,000 after buying an additional 372,271 shares in the last quarter. 76.91% of the stock is currently owned by institutional investors.
Shares of NYSE CCL traded down $1.66 during midday trading on Friday, hitting $47.79. 4,800,033 shares of the company traded hands, compared to its average volume of 4,258,861. Carnival Corp has a 12-month low of $39.92 and a 12-month high of $59.24. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.18 and a current ratio of 0.23. The stock has a 50-day moving average price of $49.10 and a 200 day moving average price of $45.96. The firm has a market cap of $26.29 billion, a P/E ratio of 11.06, a P/E/G ratio of 1.27 and a beta of 1.14.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Thursday, February 20th. Carnival’s dividend payout ratio (DPR) is presently 45.45%.
A number of research firms recently weighed in on CCL. Berenberg Bank lowered shares of Carnival from a “hold” rating to a “sell” rating and set a $38.00 price objective for the company. in a research note on Friday, September 27th. Barclays upped their price objective on shares of Carnival from $47.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 24th. They noted that the move was a valuation call. Buckingham Research lowered their price objective on shares of Carnival from $52.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. They noted that the move was a valuation call. Deutsche Bank upped their price objective on shares of Carnival from $46.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, December 23rd. Finally, UBS Group upped their price objective on shares of Carnival from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Carnival presently has a consensus rating of “Hold” and an average price target of $50.07.
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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