Madison Investment Holdings Inc. Has $15.20 Million Stake in Carnival Corporation (CCL)
Madison Investment Holdings Inc. decreased its position in shares of Carnival Corporation (NYSE:CCL) by 24.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 235,351 shares of the company’s stock after selling 78,241 shares during the quarter. Madison Investment Holdings Inc.’s holdings in Carnival were worth $15,197,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Pathstone Family Office LLC raised its position in Carnival by 200.0% in the second quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock worth $2,493,000 after acquiring an additional 38 shares in the last quarter. YorkBridge Wealth Partners LLC raised its position in Carnival by 1.4% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock worth $191,000 after acquiring an additional 40 shares in the last quarter. Security National Bank of Sioux City Iowa IA raised its position in Carnival by 0.5% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,390 shares of the company’s stock worth $878,000 after acquiring an additional 65 shares in the last quarter. Scotia Capital Inc. raised its position in Carnival by 0.4% in the second quarter. Scotia Capital Inc. now owns 16,604 shares of the company’s stock worth $1,089,000 after acquiring an additional 71 shares in the last quarter. Finally, Ballentine Partners LLC raised its position in Carnival by 1.7% in the second quarter. Ballentine Partners LLC now owns 4,523 shares of the company’s stock worth $305,000 after acquiring an additional 75 shares in the last quarter. 75.94% of the stock is owned by institutional investors.
Carnival Corporation (NYSE CCL) opened at $66.91 on Monday. The firm has a market capitalization of $35,852.79, a PE ratio of 17.33, a P/E/G ratio of 1.19 and a beta of 0.73. Carnival Corporation has a 12 month low of $50.77 and a 12 month high of $69.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.21 and a quick ratio of 0.16.
Carnival (NYSE:CCL) last issued its quarterly earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.09. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Carnival had a return on equity of 12.15% and a net margin of 15.53%. Carnival’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $1.92 EPS. analysts expect that Carnival Corporation will post 3.7 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be paid a $0.45 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.69%. This is a boost from Carnival’s previous quarterly dividend of $0.40. Carnival’s dividend payout ratio (DPR) is currently 43.72%.
In other Carnival news, CEO Arnold W. Donald sold 90,903 shares of Carnival stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $67.41, for a total transaction of $6,127,771.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Arnold W. Donald sold 5,000 shares of Carnival stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $65.57, for a total value of $327,850.00. The disclosure for this sale can be found here. Insiders sold a total of 100,903 shares of company stock worth $6,782,771 in the last three months. 23.80% of the stock is currently owned by company insiders.
CCL has been the topic of several research reports. Zacks Investment Research upgraded shares of Carnival from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Tuesday, August 22nd. UBS reiterated a “buy” rating and issued a $76.00 price target (up from $67.00) on shares of Carnival in a research report on Thursday, August 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $79.00 price target (up from $74.00) on shares of Carnival in a research report on Wednesday, September 27th. Nomura reiterated a “buy” rating and issued a $75.00 price target on shares of Carnival in a research report on Friday, September 29th. Finally, Instinet reiterated a “buy” rating and issued a $75.00 price target on shares of Carnival in a research report on Monday, October 2nd. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $67.73.
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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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