Tower Bridge Advisors Has $18.08 Million Stake in Carnival Corp (CCL)
Tower Bridge Advisors cut its stake in Carnival Corp (NYSE:CCL) by 1.5% in the 4th quarter, HoldingsChannel reports. The firm owned 272,467 shares of the company’s stock after selling 4,267 shares during the quarter. Carnival makes up about 1.9% of Tower Bridge Advisors’ portfolio, making the stock its 10th largest position. Tower Bridge Advisors’ holdings in Carnival were worth $18,084,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in Carnival by 115.5% during the second quarter. Janus Henderson Group PLC now owns 3,088,143 shares of the company’s stock valued at $202,505,000 after buying an additional 1,655,345 shares during the period. Capital Growth Management LP bought a new stake in Carnival during the third quarter valued at $65,539,000. APG Asset Management N.V. boosted its stake in Carnival by 60.6% during the third quarter. APG Asset Management N.V. now owns 2,313,508 shares of the company’s stock valued at $149,383,000 after buying an additional 872,800 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Carnival by 42.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,138,032 shares of the company’s stock valued at $138,054,000 after buying an additional 641,103 shares during the period. Finally, State of Wisconsin Investment Board boosted its stake in Carnival by 188.5% during the third quarter. State of Wisconsin Investment Board now owns 526,536 shares of the company’s stock valued at $33,998,000 after buying an additional 344,051 shares during the period. Institutional investors own 76.06% of the company’s stock.
In other news, CEO Arnold W. Donald sold 5,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $65.43, for a total value of $327,150.00. Following the completion of the sale, the chief executive officer now owns 115,572 shares of the company’s stock, valued at approximately $7,561,875.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Arnaldo Perez sold 15,166 shares of the business’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total value of $1,009,903.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 310,627 shares of company stock valued at $20,813,517. Corporate insiders own 23.80% of the company’s stock.
Carnival (NYSE:CCL) last issued its quarterly earnings results on Tuesday, December 19th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.12. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. equities analysts expect that Carnival Corp will post 4.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 23rd will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.51%. The ex-dividend date is Thursday, February 22nd. Carnival’s dividend payout ratio (DPR) is currently 32.03%.
Several equities research analysts recently issued reports on CCL shares. Instinet reissued a “buy” rating and set a $75.00 price objective on shares of Carnival in a research note on Monday, October 2nd. Zacks Investment Research lowered Carnival from a “hold” rating to a “sell” rating in a research note on Tuesday, November 28th. Morgan Stanley raised Carnival from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $65.94 to $68.00 in a research note on Wednesday, December 6th. Credit Suisse Group set a $72.00 price objective on Carnival and gave the company a “hold” rating in a research note on Tuesday, December 12th. Finally, SunTrust Banks reissued a “buy” rating and set a $84.00 price objective (up previously from $72.00) on shares of Carnival in a research note on Tuesday, December 19th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $73.34.
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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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