Cullen Frost Bankers Inc. trimmed its position in shares of Carnival Corp (NYSE:CCL) by 0.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 254,299 shares of the company’s stock after selling 1,824 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Carnival were worth $16,878,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in shares of Carnival by 2,540.0% in the third quarter. Assenagon Asset Management S.A. now owns 263,997 shares of the company’s stock valued at $17,046,000 after purchasing an additional 253,997 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Carnival by 169.2% in the fourth quarter. State of Alaska Department of Revenue now owns 55,259 shares of the company’s stock valued at $3,665,000 after purchasing an additional 34,735 shares in the last quarter. New England Research & Management Inc. grew its holdings in shares of Carnival by 104.6% in the third quarter. New England Research & Management Inc. now owns 24,550 shares of the company’s stock valued at $1,585,000 after purchasing an additional 12,550 shares in the last quarter. Oakbrook Investments LLC grew its holdings in shares of Carnival by 362.6% in the fourth quarter. Oakbrook Investments LLC now owns 21,050 shares of the company’s stock valued at $1,397,000 after purchasing an additional 16,500 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Carnival in the third quarter valued at $12,791,000. 75.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Carnival Corp (NYSE CCL) traded down $0.29 on Thursday, hitting $69.63. The company’s stock had a trading volume of 433,096 shares, compared to its average volume of 3,288,488. The firm has a market cap of $36,724.30, a P/E ratio of 19.42, a PEG ratio of 1.15 and a beta of 0.75. The company has a quick ratio of 0.14, a current ratio of 0.18 and a debt-to-equity ratio of 0.29. Carnival Corp has a twelve month low of $54.75 and a twelve month high of $72.70.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, February 23rd will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, February 22nd. Carnival’s dividend payout ratio (DPR) is 32.03%.
In other Carnival news, CEO Arnold W. Donald sold 5,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $65.57, for a total value of $327,850.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Arnold W. Donald sold 8,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $71.66, for a total value of $573,280.00. Following the completion of the sale, the chief executive officer now directly owns 102,150 shares in the company, valued at approximately $7,320,069. The disclosure for this sale can be found here. Insiders have sold a total of 313,627 shares of company stock valued at $21,059,647 over the last 90 days. 23.80% of the stock is currently owned by company insiders.
Several research analysts have commented on the stock. ValuEngine raised shares of Carnival from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded Carnival from a “hold” rating to a “sell” rating in a research report on Tuesday, November 28th. Stifel Nicolaus lifted their price objective on Carnival from $79.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Buckingham Research restated a “buy” rating and issued a $84.00 price objective (up from $80.00) on shares of Carnival in a report on Wednesday, December 20th. Finally, Barclays boosted their target price on shares of Carnival from $67.00 to $73.00 and gave the stock an “equal weight” rating in a report on Thursday, December 21st. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $73.82.
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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