Kornitzer Capital Management Inc. KS boosted its position in Carnival Corp (NYSE:CCL) by 143.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 171,103 shares of the company’s stock after buying an additional 100,705 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Carnival were worth $7,965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund boosted its position in Carnival by 10.2% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 198,559 shares of the company’s stock worth $9,243,000 after purchasing an additional 18,310 shares in the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of Carnival by 3.3% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 21,209 shares of the company’s stock valued at $987,000 after buying an additional 670 shares in the last quarter. Carillon Tower Advisers Inc. lifted its position in shares of Carnival by 13.7% during the 1st quarter. Carillon Tower Advisers Inc. now owns 380,805 shares of the company’s stock valued at $19,314,000 after buying an additional 45,996 shares in the last quarter. Hanson McClain Inc. lifted its position in shares of Carnival by 20.2% during the 1st quarter. Hanson McClain Inc. now owns 1,711 shares of the company’s stock valued at $87,000 after buying an additional 287 shares in the last quarter. Finally, Everett Harris & Co. CA lifted its position in shares of Carnival by 48.4% during the 1st quarter. Everett Harris & Co. CA now owns 113,275 shares of the company’s stock valued at $5,745,000 after buying an additional 36,950 shares in the last quarter. Hedge funds and other institutional investors own 74.43% of the company’s stock.

In other Carnival news, CEO Arnold W. Donald purchased 22,050 shares of the stock in a transaction dated Tuesday, June 25th. The stock was acquired at an average cost of $45.23 per share, for a total transaction of $997,321.50. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Randall J. Weisenburger purchased 20,000 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were acquired at an average price of $46.50 per share, with a total value of $930,000.00. The disclosure for this purchase can be found here. Corporate insiders own 24.10% of the company’s stock.

Several research firms recently commented on CCL. Deutsche Bank reduced their price objective on Carnival from $54.00 to $52.00 and set a “hold” rating for the company in a research note on Friday, July 19th. ValuEngine raised Carnival from a “strong sell” rating to a “sell” rating in a research note on Monday. Barclays downgraded Carnival from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $69.00 to $55.00 in a research note on Friday, June 21st. Berenberg Bank downgraded Carnival from a “buy” rating to a “hold” rating and reduced their price objective for the company from $60.00 to $48.00 in a research note on Monday, July 1st. Finally, Nomura downgraded Carnival from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $60.00 to $52.00 in a research note on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. Carnival currently has an average rating of “Hold” and an average target price of $61.26.

NYSE CCL opened at $44.53 on Thursday. The stock has a market cap of $23.56 billion, a PE ratio of 10.45, a PEG ratio of 1.08 and a beta of 1.08. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.38. Carnival Corp has a twelve month low of $44.37 and a twelve month high of $67.69. The business’s fifty day simple moving average is $46.17.

Carnival (NYSE:CCL) last released its quarterly earnings results on Thursday, June 20th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 EPS. Analysts expect that Carnival Corp will post 4.34 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend is Thursday, August 22nd. Carnival’s dividend payout ratio is presently 46.95%.

About Carnival

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.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

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Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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