Hayek Kallen Investment Management trimmed its holdings in Carnival Corp (NYSE:CCL) by 12.4% in the third quarter, Holdings Channel reports. The institutional investor owned 25,278 shares of the company’s stock after selling 3,576 shares during the quarter. Hayek Kallen Investment Management’s holdings in Carnival were worth $1,658,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Carnival by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 3,921,357 shares of the company’s stock worth $224,733,000 after buying an additional 55,116 shares during the period. Standard Life Aberdeen plc boosted its stake in Carnival by 14.5% during the second quarter. Standard Life Aberdeen plc now owns 184,148 shares of the company’s stock worth $10,554,000 after buying an additional 23,335 shares during the period. Natixis boosted its stake in Carnival by 20.8% during the second quarter. Natixis now owns 60,570 shares of the company’s stock worth $3,471,000 after buying an additional 10,431 shares during the period. Private Wealth Partners LLC boosted its stake in Carnival by 85.2% during the second quarter. Private Wealth Partners LLC now owns 28,250 shares of the company’s stock worth $1,619,000 after buying an additional 13,000 shares during the period. Finally, Blue Chip Partners Inc. purchased a new position in Carnival during the third quarter worth about $248,000. Institutional investors and hedge funds own 73.97% of the company’s stock.
In other news, General Counsel Arnaldo Perez sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $64.26, for a total value of $449,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 23.80% of the company’s stock.
Carnival (NYSE:CCL) last posted its quarterly earnings data on Thursday, September 27th. The company reported $2.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.32 by $0.04. Carnival had a net margin of 17.15% and a return on equity of 12.30%. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same quarter last year, the firm posted $2.29 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that Carnival Corp will post 4.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 23rd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Wednesday, November 21st. Carnival’s payout ratio is 52.36%.
Several research analysts have weighed in on CCL shares. Citigroup lowered their target price on shares of Carnival from $79.00 to $69.00 and set a “buy” rating for the company in a research note on Wednesday, August 8th. Zacks Investment Research lowered shares of Carnival from a “hold” rating to a “sell” rating in a research note on Monday, August 27th. Credit Suisse Group set a $75.00 target price on shares of Carnival and gave the stock a “buy” rating in a research note on Thursday, September 13th. ValuEngine raised shares of Carnival from a “sell” rating to a “hold” rating in a research note on Friday, September 14th. Finally, Goldman Sachs Group set a $70.00 target price on shares of Carnival and gave the stock a “hold” rating in a research note on Monday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. Carnival has a consensus rating of “Buy” and a consensus price target of $72.86.
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Carnival Company Profile
Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.
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