Carnival Corporation (NYSE:CCL) Position Raised by Horizon Investment Services LLC

Horizon Investment Services LLC boosted its position in Carnival Corporation (NYSE:CCL) by 10.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 82,766 shares of the company’s stock after buying an additional 7,801 shares during the period. Carnival Corporation comprises approximately 2.2% of Horizon Investment Services LLC’s portfolio, making the stock its 16th largest position. Horizon Investment Services LLC’s holdings in Carnival Corporation were worth $4,876,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CCL. Dubuque Bank & Trust Co. purchased a new stake in shares of Carnival Corporation during the first quarter worth about $106,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Carnival Corporation during the fourth quarter valued at $131,000. Harbour Capital Advisors LLC bought a new stake in shares of Carnival Corporation during the first quarter valued at $147,000. Parallel Advisors LLC boosted its stake in shares of Carnival Corporation by 87.9% in the first quarter. Parallel Advisors LLC now owns 2,674 shares of the company’s stock valued at $167,000 after buying an additional 1,251 shares in the last quarter. Finally, Wesbanco Bank Inc. bought a new stake in shares of Carnival Corporation during the first quarter valued at $201,000. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

Carnival Corporation (NYSE CCL) traded up 0.09% during midday trading on Friday, hitting $66.40. The company had a trading volume of 2,034,431 shares. The stock has a market cap of $48.07 billion, a PE ratio of 17.56 and a beta of 0.75. Carnival Corporation has a 52-week low of $44.11 and a 52-week high of $67.80. The stock’s 50-day moving average price is $65.90 and its 200-day moving average price is $60.34.

Carnival Corporation (NYSE:CCL) last posted its quarterly earnings results on Thursday, June 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. Carnival Corporation had a net margin of 16.48% and a return on equity of 11.26%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm posted $0.49 EPS. Carnival Corporation’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that Carnival Corporation will post $3.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, August 23rd. Carnival Corporation’s dividend payout ratio is 42.55%.

Carnival Corporation declared that its Board of Directors has authorized a share buyback program on Friday, April 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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CCL has been the subject of several recent analyst reports. UBS AG reissued a “buy” rating and set a $67.00 price objective on shares of Carnival Corporation in a report on Monday, April 17th. Wolfe Research raised Carnival Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 25th. ValuEngine upgraded Carnival Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Credit Suisse Group restated an “outperform” rating and set a $74.00 price target (up from $69.00) on shares of Carnival Corporation in a report on Saturday, June 3rd. Finally, William Blair restated an “outperform” rating on shares of Carnival Corporation in a report on Friday, June 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. Carnival Corporation currently has a consensus rating of “Buy” and an average price target of $62.02.

In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of Carnival Corporation stock in a transaction on Friday, July 21st. The shares were sold at an average price of $67.52, for a total transaction of $1,012,800.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 23.80% of the stock is owned by insiders.

Carnival Corporation 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.

Institutional Ownership by Quarter for Carnival Corporation (NYSE:CCL)

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