Fred Alger Management Inc. acquired a new stake in Carnival Corp (NYSE:CCL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 21,336 shares of the company’s stock, valued at approximately $1,416,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boothbay Fund Management LLC boosted its holdings in shares of Carnival by 6.5% in the 3rd quarter. Boothbay Fund Management LLC now owns 12,888 shares of the company’s stock valued at $832,000 after buying an additional 788 shares during the last quarter. Global X Management Co. LLC boosted its holdings in shares of Carnival by 11.0% in the 4th quarter. Global X Management Co. LLC now owns 8,385 shares of the company’s stock valued at $557,000 after buying an additional 830 shares during the last quarter. HL Financial Services LLC boosted its holdings in shares of Carnival by 7.9% in the 4th quarter. HL Financial Services LLC now owns 11,465 shares of the company’s stock valued at $761,000 after buying an additional 840 shares during the last quarter. Vident Investment Advisory LLC boosted its holdings in shares of Carnival by 1.9% in the 3rd quarter. Vident Investment Advisory LLC now owns 46,477 shares of the company’s stock valued at $3,001,000 after buying an additional 878 shares during the last quarter. Finally, Sigma Planning Corp boosted its holdings in shares of Carnival by 7.6% in the 4th quarter. Sigma Planning Corp now owns 12,934 shares of the company’s stock valued at $858,000 after buying an additional 911 shares during the last quarter. 76.74% of the stock is owned by institutional investors.
Shares of Carnival Corp (NYSE CCL) opened at $67.57 on Wednesday. The company has a current ratio of 0.18, a quick ratio of 0.14 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $35,981.80, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 1.13 and a beta of 0.80. Carnival Corp has a twelve month low of $56.73 and a twelve month high of $72.70.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 23rd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, February 22nd. Carnival’s payout ratio is 22.28%.
Several equities research analysts have recently commented on the company. Credit Suisse Group increased their price objective on Carnival from $78.10 to $79.50 and gave the company an “outperform” rating in a report on Thursday, January 25th. ValuEngine raised Carnival from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Morgan Stanley raised their price target on Carnival from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Buckingham Research reaffirmed a “buy” rating and set a $84.00 price target (up previously from $80.00) on shares of Carnival in a report on Wednesday, December 20th. Finally, Stifel Nicolaus raised their price target on Carnival from $79.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Seven investment 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. Carnival presently has an average rating of “Buy” and a consensus target price of $73.84.
In other Carnival news, CEO Arnold W. Donald sold 6,000 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $68.00, for a total transaction of $408,000.00. Following the transaction, the chief executive officer now owns 115,572 shares in the company, valued at approximately $7,858,896. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Arnaldo Perez sold 15,166 shares of the stock in a transaction on Wednesday, December 27th. The stock was 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. Insiders have sold a total of 336,364 shares of company stock worth $22,626,561 in the last quarter. Company insiders own 23.80% of the company’s stock.
Carnival Company Profile
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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