Sterling Capital Management LLC Boosts Position in Carnival Corp (NYSE:CCL)
Sterling Capital Management LLC boosted its position in shares of Carnival Corp (NYSE:CCL) by 7.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,661,150 shares of the company’s stock after purchasing an additional 120,153 shares during the quarter. Sterling Capital Management LLC owned approximately 0.32% of Carnival worth $77,327,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CCL. BlackRock Inc. boosted its position in Carnival by 8.2% during the first quarter. BlackRock Inc. now owns 30,754,347 shares of the company’s stock worth $1,559,860,000 after purchasing an additional 2,336,518 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Carnival by 131.1% in the second quarter. JPMorgan Chase & Co. now owns 2,100,912 shares of the company’s stock worth $96,473,000 after acquiring an additional 1,191,671 shares during the last quarter. APG Asset Management N.V. raised its holdings in shares of Carnival by 34.4% in the second quarter. APG Asset Management N.V. now owns 2,960,094 shares of the company’s stock worth $120,998,000 after acquiring an additional 757,188 shares during the last quarter. Investec Asset Management LTD raised its holdings in shares of Carnival by 7,492.0% in the second quarter. Investec Asset Management LTD now owns 648,507 shares of the company’s stock worth $357,000 after acquiring an additional 639,965 shares during the last quarter. Finally, Long Pond Capital LP acquired a new position in shares of Carnival in the second quarter worth $25,835,000. Institutional investors own 75.18% of the company’s stock.
In related news, Director Randall J. Weisenburger bought 20,000 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was bought at an average price of $46.50 per share, with a total value of $930,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arnold W. Donald bought 22,050 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was bought at an average cost of $45.23 per share, with a total value of $997,321.50. The disclosure for this purchase can be found here. 24.10% of the stock is owned by corporate insiders.
Carnival (NYSE:CCL) last announced its quarterly earnings results on Thursday, June 20th. The company reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.49 billion. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. As a group, analysts predict that Carnival Corp will post 4.33 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Thursday, August 22nd. Carnival’s payout ratio is 46.95%.
A number of equities analysts have recently weighed in on the company. Stifel Nicolaus boosted their price target on Carnival from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Monday. Wolfe Research lowered Carnival from an “outperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Deutsche Bank dropped their target price 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 upgraded Carnival from a “strong sell” rating to a “sell” rating in a research note on Monday, August 12th. Finally, Nomura lowered Carnival from a “buy” rating to a “neutral” rating and dropped their target price for the company from $60.00 to $52.00 in a research note on Thursday, June 20th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $60.39.
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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