First Republic Investment Management Inc. Acquires 38,698 Shares of Carnival Corp (NYSE:CCL)

First Republic Investment Management Inc. boosted its stake in shares of Carnival Corp (NYSE:CCL) by 77.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 88,534 shares of the company’s stock after acquiring an additional 38,698 shares during the quarter. First Republic Investment Management Inc.’s holdings in Carnival were worth $5,073,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CCL. Bank of New York Mellon Corp boosted its stake in shares of Carnival by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,921,357 shares of the company’s stock valued at $224,733,000 after purchasing an additional 55,116 shares during the last quarter. Standard Life Aberdeen plc boosted its stake in shares of Carnival by 14.5% in the 2nd quarter. Standard Life Aberdeen plc now owns 184,148 shares of the company’s stock valued at $10,554,000 after purchasing an additional 23,335 shares during the last quarter. Employees Retirement System of Texas boosted its stake in shares of Carnival by 25.8% in the 2nd quarter. Employees Retirement System of Texas now owns 182,343 shares of the company’s stock valued at $10,450,000 after purchasing an additional 37,443 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Carnival in the 2nd quarter valued at about $463,000. Finally, Premier Fund Managers Ltd boosted its stake in shares of Carnival by 17.9% in the 2nd quarter. Premier Fund Managers Ltd now owns 68,543 shares of the company’s stock valued at $3,918,000 after purchasing an additional 10,428 shares during the last quarter. 75.64% of the stock is currently owned by hedge funds and other institutional investors.

CCL stock traded down $1.11 during mid-day trading on Friday, hitting $60.58. 4,292,630 shares of the company were exchanged, compared to its average volume of 3,779,546. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.17 and a current ratio of 0.22. The company has a market capitalization of $33.60 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92. Carnival Corp has a 1-year low of $56.45 and a 1-year high of $72.70.

Carnival (NYSE:CCL) last announced its earnings results on Thursday, September 27th. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.32 by $0.04. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.80 billion. Carnival had a net margin of 17.15% and a return on equity of 12.30%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $2.29 EPS. Analysts forecast that Carnival Corp will post 4.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 24th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 23rd. This represents a $2.00 annualized dividend and a yield of 3.30%. Carnival’s dividend payout ratio (DPR) is currently 52.36%.

In other Carnival news, General Counsel Arnaldo Perez sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $64.26, for a total transaction of $449,820.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 23.80% of the company’s stock.

Several brokerages have recently issued reports on CCL. Deutsche Bank reduced their target price on shares of Carnival from $71.00 to $68.00 and set a “hold” rating on the stock in a research note on Tuesday, June 26th. Stifel Nicolaus reduced their price objective on shares of Carnival from $81.00 to $78.00 and set a “buy” rating on the stock in a research note on Tuesday, June 26th. Wells Fargo & Co reduced their price objective on shares of Carnival from $80.00 to $76.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 26th. Goldman Sachs Group set a $70.00 price objective on shares of Carnival and gave the stock a “hold” rating in a research note on Monday, September 24th. Finally, SunTrust Banks reduced their price objective on shares of Carnival to $79.00 and set a “buy” rating on the stock in a research note on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. Carnival presently has a consensus rating of “Buy” and a consensus target price of $72.86.

Carnival Profile

Carnival Corporation operates as a leisure travel and cruise company. It offers cruises under the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn brands in North America; and AIDA, Costa, P&O Cruises (Australia), Cunard, and P&O Cruises (UK) brands in Europe, Australia, and Asia.

Further Reading: S&P 500 Index

Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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