Wedge Capital Management L L P NC Acquires Shares of 527,783 Carnival Corporation (CCL)
Wedge Capital Management L L P NC acquired a new position in Carnival Corporation (NYSE:CCL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 527,783 shares of the company’s stock, valued at approximately $34,607,000.
Other institutional investors have also added to or reduced their stakes in the company. Dubuque Bank & Trust Co. acquired a new position in Carnival Corporation during the first quarter worth approximately $106,000. Point72 Asia Hong Kong Ltd acquired a new position in Carnival Corporation during the first quarter worth approximately $138,000. Harbour Capital Advisors LLC acquired a new position in Carnival Corporation during the first quarter worth approximately $147,000. Parallel Advisors LLC increased its position in Carnival Corporation by 87.9% in the first quarter. Parallel Advisors LLC now owns 2,674 shares of the company’s stock worth $167,000 after buying an additional 1,251 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in Carnival Corporation by 109.4% in the second quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock worth $171,000 after buying an additional 1,368 shares during the last quarter. 78.82% of the stock is owned by institutional investors.
Carnival Corporation (NYSE CCL) opened at 67.48 on Friday. The company has a market capitalization of $48.86 billion, a P/E ratio of 17.85 and a beta of 0.75. Carnival Corporation has a 52 week low of $44.11 and a 52 week high of $68.87. The firm has a 50 day moving average of $66.62 and a 200-day moving average of $61.29.
Carnival Corporation (NYSE:CCL) last posted its earnings results on Thursday, June 22nd. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, analysts forecast that Carnival Corporation will post $3.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.37%. Carnival Corporation’s dividend payout ratio (DPR) is currently 42.55%.
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A number of equities analysts have recently commented on CCL shares. HSBC Holdings plc reaffirmed a “buy” rating and set a $71.00 price objective (up from $65.00) on shares of Carnival Corporation in a report on Monday, June 26th. ValuEngine raised shares of Carnival Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price objective on shares of Carnival Corporation in a report on Friday, June 16th. Instinet raised their price objective on shares of Carnival Corporation from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, June 23rd. Finally, UBS AG reaffirmed a “buy” rating and set a $67.00 price objective on shares of Carnival Corporation in a report on Monday, April 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. Carnival Corporation currently has an average rating of “Buy” and a consensus target price of $62.06.
In other news, insider Alan Buckelew sold 15,000 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $67.52, for a total value of $1,012,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.80% of the stock is currently owned by corporate insiders.
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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