Teachers Advisors LLC cut its holdings in shares of Carnival Corp (NYSE:CCL) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,846,859 shares of the company’s stock after selling 64,465 shares during the quarter. Teachers Advisors LLC’s holdings in Carnival were worth $122,576,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CCL. SeaCrest Wealth Management LLC purchased a new position in shares of Carnival during the 4th quarter worth $123,000. Grove Bank & Trust grew its holdings in shares of Carnival by 367.8% during the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock worth $131,000 after purchasing an additional 1,600 shares during the period. Focused Wealth Management Inc purchased a new position in shares of Carnival during the 4th quarter worth $133,000. Avestar Capital LLC purchased a new position in shares of Carnival during the 4th quarter worth $148,000. Finally, Delpha Capital Management LLC purchased a new position in shares of Carnival during the 4th quarter worth $173,000. Institutional investors and hedge funds own 76.74% of the company’s stock.
Carnival Corp (CCL) opened at $67.36 on Tuesday. Carnival Corp has a 12 month low of $56.73 and a 12 month high of $72.70. The company has a current ratio of 0.18, a quick ratio of 0.14 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $36,040.55, a PE ratio of 17.66, a P/E/G ratio of 1.13 and a beta of 0.80.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 23rd will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, February 22nd. Carnival’s dividend payout ratio is currently 22.28%.
A number of research firms have recently weighed in on CCL. Credit Suisse Group increased their price target on Carnival from $78.10 to $79.50 and gave the stock an “outperform” rating in a report on Thursday, January 25th. ValuEngine upgraded Carnival from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Morgan Stanley increased their price target on Carnival from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. Buckingham Research reiterated a “buy” rating and set a $84.00 price target (up from $80.00) on shares of Carnival in a report on Wednesday, December 20th. Finally, Stifel Nicolaus increased their price target on Carnival from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $73.84.
In other Carnival news, CEO Arnold W. Donald sold 5,000 shares of the stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $66.41, for a total value of $332,050.00. Following the sale, the chief executive officer now owns 132,376 shares of the company’s stock, valued at approximately $8,791,090.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stein Kruse sold 60,665 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total value of $4,039,682.35. The disclosure for this sale can be found here. Insiders sold a total of 336,364 shares of company stock worth $22,626,561 in the last ninety days. 23.80% of the stock is owned by corporate insiders.
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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