Deltec Asset Management LLC Acquires New Position in Carnival Corp (CCL)

Deltec Asset Management LLC acquired a new stake in shares of Carnival Corp (NYSE:CCL) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,000 shares of the company’s stock, valued at approximately $1,275,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Capital Group LLC boosted its stake in Carnival by 2,911.6% during the 1st quarter. Private Capital Group LLC now owns 2,078 shares of the company’s stock valued at $136,000 after acquiring an additional 2,009 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in Carnival during the 2nd quarter valued at $124,000. Park National Corp OH bought a new position in Carnival during the 3rd quarter valued at $204,000. ACG Wealth bought a new position in Carnival during the 3rd quarter valued at $209,000. Finally, Signaturefd LLC boosted its stake in Carnival by 34.1% during the 2nd quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock valued at $211,000 after acquiring an additional 937 shares during the last quarter. Hedge funds and other institutional investors own 76.42% of the company’s stock.

Carnival stock opened at $57.54 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.17 and a current ratio of 0.22. Carnival Corp has a 1 year low of $56.45 and a 1 year high of $72.70. The stock has a market capitalization of $31.08 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 1.00 and a beta of 0.93.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 23rd will be given a $0.50 dividend. The ex-dividend date is Wednesday, November 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.48%. Carnival’s payout ratio is currently 52.36%.

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

A number of research analysts have commented on CCL shares. 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. 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. Citigroup reduced their price objective on shares of Carnival from $79.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, August 8th. Berenberg Bank upgraded shares of Carnival from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Finally, Credit Suisse Group set a $75.00 price target on shares of Carnival and gave the stock a “buy” rating in a research report on Thursday, September 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” 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: Risk Tolerance

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Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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