KBC Group NV Reduces Position in Carnival Corp (CCL)
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.
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%.
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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