KBC Group NV lessened its holdings in Carnival Corp (NYSE:CCL) by 15.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 456,537 shares of the company’s stock after selling 81,188 shares during the period. KBC Group NV’s holdings in Carnival were worth $30,301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Scotia Capital Inc. raised its holdings in Carnival by 0.4% in the 2nd quarter. Scotia Capital Inc. now owns 16,604 shares of the company’s stock valued at $1,089,000 after buying an additional 71 shares during the last quarter. National Asset Management Inc. raised its holdings in Carnival by 10.7% in the 2nd quarter. National Asset Management Inc. now owns 4,329 shares of the company’s stock valued at $284,000 after buying an additional 420 shares during the last quarter. Boothbay Fund Management LLC raised its holdings in 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. Mutual of America Capital Management LLC raised its holdings in Carnival by 1.6% in the 3rd quarter. Mutual of America Capital Management LLC now owns 51,689 shares of the company’s stock valued at $3,338,000 after buying an additional 796 shares during the last quarter. Finally, HL Financial Services LLC raised its holdings in 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. Institutional investors and hedge funds own 75.65% of the company’s stock.

CCL has been the subject of a number of research reports. Buckingham Research reiterated a “buy” rating and issued a $84.00 price objective (up previously from $80.00) on shares of Carnival in a report on Wednesday, December 20th. Credit Suisse Group upgraded shares of Carnival from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $66.05 to $70.00 in a report on Tuesday, January 9th. Morgan Stanley upgraded shares of Carnival from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $65.94 to $68.00 in a report on Wednesday, December 6th. Tigress Financial reiterated a “buy” rating on shares of Carnival in a report on Friday, December 22nd. Finally, Zacks Investment Research upgraded shares of Carnival from a “sell” rating to a “hold” rating in a report on Thursday, December 7th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $73.45.

In other news, CFO David Bernstein sold 2,600 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $69.59, for a total transaction of $180,934.00. Following the completion of the sale, the chief financial officer now owns 34,620 shares of the company’s stock, valued at approximately $2,409,205.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Arnold W. Donald sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $65.57, for a total transaction of $327,850.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 313,627 shares of company stock valued at $21,059,647. Insiders own 23.80% of the company’s stock.

Shares of Carnival Corp (NYSE CCL) opened at $67.07 on Friday. The company has a market cap of $35,826.91, a P/E ratio of 17.56, a PEG ratio of 1.13 and a beta of 0.75. Carnival Corp has a 52-week low of $54.75 and a 52-week high of $72.70. The company has a current ratio of 0.18, a quick ratio of 0.14 and a debt-to-equity ratio of 0.29.

Carnival (NYSE:CCL) last announced its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.51 by $0.12. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. Carnival had a net margin of 14.88% and a return on equity of 11.78%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. research analysts expect that Carnival Corp will post 4.27 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders 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 dividend yield of 2.68%. The ex-dividend date is Thursday, February 22nd. Carnival’s dividend payout ratio (DPR) is 32.03%.

COPYRIGHT VIOLATION WARNING: This article was originally published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this article on another site, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://theolympiareport.com/2018/02/11/kbc-group-nv-reduces-position-in-carnival-corp-ccl.html.

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.

Want to see what other hedge funds are holding CCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carnival Corp (NYSE:CCL).

Institutional Ownership by Quarter for Carnival (NYSE:CCL)

Receive News & Ratings for Carnival Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival and related companies with MarketBeat.com's FREE daily email newsletter.