New Mexico Educational Retirement Board Reduces Position in Carnival Corporation (CCL)

New Mexico Educational Retirement Board lessened its holdings in Carnival Corporation (NYSE:CCL) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,167 shares of the company’s stock after selling 1,700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Carnival were worth $2,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Pathstone Family Office LLC increased its position in shares of Carnival by 200.0% in the second quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock valued at $2,493,000 after acquiring an additional 38 shares during the period. YorkBridge Wealth Partners LLC increased its position in shares of Carnival by 1.4% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after acquiring an additional 40 shares during the period. Security National Bank of Sioux City Iowa IA increased its position in shares of Carnival by 0.5% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,390 shares of the company’s stock valued at $878,000 after acquiring an additional 65 shares during the period. Scotia Capital Inc. increased its position in shares of Carnival by 0.4% in the second quarter. Scotia Capital Inc. now owns 16,604 shares of the company’s stock valued at $1,089,000 after acquiring an additional 71 shares during the period. Finally, Ballentine Partners LLC increased its position in shares of Carnival by 1.7% in the second quarter. Ballentine Partners LLC now owns 4,523 shares of the company’s stock valued at $305,000 after acquiring an additional 75 shares during the period. Institutional investors own 75.90% of the company’s stock.

Shares of Carnival Corporation (NYSE CCL) traded down $0.11 during trading on Friday, reaching $66.37. 1,877,017 shares of the company were exchanged, compared to its average volume of 3,017,390. The company has a market capitalization of $35,622.38, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 1.18 and a beta of 0.73. Carnival Corporation has a 12 month low of $51.70 and a 12 month high of $69.89. 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 issued its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.12. Carnival had a net margin of 14.88% and a return on equity of 11.78%. The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. equities research analysts predict that Carnival Corporation will post 4.25 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 24th were issued a dividend of $0.45 per share. This is a boost from Carnival’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend was Wednesday, November 22nd. Carnival’s dividend payout ratio is currently 44.57%.

A number of research firms have issued reports on CCL. Zacks Investment Research upgraded shares of Carnival from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research report on Tuesday, September 5th. Credit Suisse Group cut shares of Carnival from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $78.00 to $70.00 in a research report on Friday, September 15th. Stifel Nicolaus boosted their price target on shares of Carnival from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Buckingham Research reissued a “buy” rating and set a $84.00 price objective (up previously from $80.00) on shares of Carnival in a research note on Wednesday, December 20th. Finally, Deutsche Bank boosted their price objective on shares of Carnival to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Carnival currently has an average rating of “Buy” and a consensus target price of $72.89.

In other Carnival news, CEO Arnold W. Donald sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $68.00, for a total transaction of $408,000.00. Following the completion of the sale, the chief executive officer now directly owns 115,572 shares of the company’s stock, valued at $7,858,896. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Arnold W. Donald sold 90,903 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $67.41, for a total transaction of $6,127,771.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 234,188 shares of company stock valued at $15,675,427. 23.80% of the stock is owned by corporate insiders.

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Carnival 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.

Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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