State Street Corp Has $1.13 Billion Holdings in Carnival Corporation (CCL)
State Street Corp reduced its position in shares of Carnival Corporation (NYSE:CCL) by 3.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,306,842 shares of the company’s stock after selling 692,535 shares during the quarter. State Street Corp owned 2.39% of Carnival Corporation worth $1,134,805,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Pathstone Family Office LLC increased its stake in Carnival Corporation by 200.0% during the 2nd quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock valued at $2,493,000 after purchasing an additional 38 shares in the last quarter. Vantage Financial Partners Ltd. Inc. bought a new stake in Carnival Corporation during the 2nd quarter valued at about $289,000. Almanack Investment Partners LLC. bought a new stake in Carnival Corporation during the 2nd quarter valued at about $117,000. Point72 Asia Hong Kong Ltd bought a new stake in Carnival Corporation during the 1st quarter valued at about $138,000. Finally, Harbour Capital Advisors LLC bought a new stake in Carnival Corporation during the 1st quarter valued at about $147,000. Institutional investors and hedge funds own 77.34% of the company’s stock.
In related news, insider Alan Buckelew sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $67.52, for a total value of $1,012,800.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 23.80% of the stock is owned by corporate insiders.
CCL has been the subject of a number of analyst reports. Stifel Nicolaus restated a “buy” rating and set a $68.00 price objective on shares of Carnival Corporation in a research note on Friday, June 16th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $57.00 price objective (up from $55.00) on shares of Carnival Corporation in a research note on Tuesday, June 20th. Instinet raised their price objective on shares of Carnival Corporation from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, June 23rd. Deutsche Bank AG restated a “hold” rating and set a $62.00 price objective (up from $58.00) on shares of Carnival Corporation in a research note on Sunday, June 25th. Finally, Wedbush restated a “neutral” rating and set a $66.00 price objective (up from $61.00) on shares of Carnival Corporation in a research note on Sunday, June 25th. Nine analysts have rated the stock with a hold rating, fourteen 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 target price of $65.60.
Carnival Corporation (NYSE CCL) traded down 0.42% during trading on Friday, hitting $65.63. 3,411,448 shares of the company were exchanged. Carnival Corporation has a 1-year low of $45.92 and a 1-year high of $69.89. The stock has a market capitalization of $47.32 billion, a PE ratio of 17.85 and a beta of 0.71. The firm’s 50 day moving average price is $66.47 and its 200-day moving average price is $64.22.
Carnival Corporation (NYSE:CCL) last issued its earnings results on Tuesday, September 26th. The company reported $2.29 EPS for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.09. The firm had revenue of $5.52 billion for 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 revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.92 earnings per share. Equities analysts predict that Carnival Corporation will post $3.68 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.44%. Carnival Corporation’s dividend payout ratio is currently 43.72%.
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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