Stewart & Patten Co. LLC increased its stake in shares of Carnival Corp (NYSE:CCL) by 8.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,202 shares of the company’s stock after purchasing an additional 16,384 shares during the quarter. Carnival makes up about 2.0% of Stewart & Patten Co. LLC’s portfolio, making the stock its 24th largest holding. Stewart & Patten Co. LLC’s holdings in Carnival were worth $10,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC increased its position in Carnival by 23.5% in the 3rd quarter. LPL Financial LLC now owns 69,512 shares of the company’s stock valued at $4,433,000 after acquiring an additional 13,248 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Carnival during the third quarter worth $163,000. Glenmede Trust Co. NA increased its position in shares of Carnival by 11.6% during the third quarter. Glenmede Trust Co. NA now owns 62,581 shares of the company’s stock worth $3,990,000 after buying an additional 6,517 shares during the period. Matthew Goff Investment Advisor LLC acquired a new stake in shares of Carnival during the third quarter worth $200,000. Finally, Captrust Financial Advisors increased its position in shares of Carnival by 15.9% during the third quarter. Captrust Financial Advisors now owns 18,984 shares of the company’s stock worth $1,211,000 after buying an additional 2,604 shares during the period. Institutional investors and hedge funds own 76.56% of the company’s stock.
NYSE CCL traded down $0.76 on Thursday, hitting $53.78. 28,529 shares of the company were exchanged, compared to its average volume of 4,065,573. The firm has a market cap of $28.50 billion, a PE ratio of 12.62, a P/E/G ratio of 1.08 and a beta of 1.23. Carnival Corp has a 12 month low of $45.64 and a 12 month high of $67.69. The company has a quick ratio of 0.17, a current ratio of 0.22 and a debt-to-equity ratio of 0.38.
In related news, CEO Stein Kruse sold 32,163 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $57.08, for a total transaction of $1,835,864.04. Following the transaction, the chief executive officer now directly owns 92,198 shares of the company’s stock, valued at $5,262,661.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Arnaldo Perez sold 5,691 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $57.08, for a total transaction of $324,842.28. Following the transaction, the general counsel now directly owns 43,724 shares in the company, valued at $2,495,765.92. The disclosure for this sale can be found here. Insiders sold 62,536 shares of company stock worth $3,569,555 over the last ninety days. Insiders own 24.10% of the company’s stock.
Several equities research analysts have recently weighed in on CCL shares. Nomura decreased their price objective on shares of Carnival from $66.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Standpoint Research started coverage on shares of Carnival in a research report on Wednesday, December 26th. They set an “accumulate” rating for the company. Barclays decreased their price objective on shares of Carnival from $70.00 to $69.00 and set an “overweight” rating for the company in a research report on Friday, December 21st. Wells Fargo & Co decreased their price objective on shares of Carnival from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, January 10th. Finally, Macquarie upgraded shares of Carnival from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $58.00 to $66.00 in a research report on Friday, January 25th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $66.70.
Carnival Company Profile
Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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