Crystal Rock Capital Management increased its holdings in shares of Carnival Corporation (NYSE:CCL) by 12.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,257 shares of the company’s stock after purchasing an additional 5,700 shares during the quarter. Carnival Corporation accounts for 2.2% of Crystal Rock Capital Management’s holdings, making the stock its 19th biggest position. Crystal Rock Capital Management’s holdings in Carnival Corporation were worth $3,426,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. bought a new stake in Carnival Corporation during the 2nd quarter worth approximately $289,000. Almanack Investment Partners LLC. bought a new stake in Carnival Corporation during the 2nd quarter worth approximately $117,000. Point72 Asia Hong Kong Ltd bought a new stake in Carnival Corporation during the 1st quarter worth approximately $138,000. Harbour Capital Advisors LLC bought a new stake in Carnival Corporation during the 1st quarter worth approximately $147,000. Finally, Bessemer Group Inc. increased its stake in Carnival Corporation by 109.4% during the 2nd quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock worth $171,000 after purchasing an additional 1,368 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.
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In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $67.02, for a total value of $1,005,300.00. Following the completion of the transaction, the insider now owns 150,860 shares in the company, valued at approximately $10,110,637.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.80% of the stock is owned by corporate insiders.
Carnival Corporation (NYSE CCL) traded down 0.11% during midday trading on Monday, hitting $65.87. The stock had a trading volume of 1,311,499 shares. The stock’s 50-day moving average is $67.77 and its 200-day moving average is $63.36. The stock has a market capitalization of $47.69 billion, a PE ratio of 17.42 and a beta of 0.74. Carnival Corporation has a 1-year low of $45.46 and a 1-year high of $69.89.
Carnival Corporation (NYSE:CCL) last announced its quarterly earnings results on Thursday, June 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. Carnival Corporation had a return on equity of 11.26% and a net margin of 16.48%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. Carnival Corporation’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that Carnival Corporation will post $3.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were paid a $0.40 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.43%. Carnival Corporation’s dividend payout ratio (DPR) is presently 42.55%.
A number of analysts recently issued reports on the company. Credit Suisse Group cut Carnival Corporation from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $78.00 to $70.00 in a research note on Friday. Zacks Investment Research raised Carnival Corporation from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Tuesday, September 12th. BidaskClub raised Carnival Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. UBS AG reissued a “buy” rating and set a $76.00 target price (up from $67.00) on shares of Carnival Corporation in a research note on Thursday, August 17th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Carnival Corporation in a research note on Tuesday, August 15th. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $63.07.
Carnival Corporation 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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