Matthew Goff Investment Advisor LLC bought a new position in Carnival Corp (NYSE:CCL) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,462 shares of the company’s stock, valued at approximately $200,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC increased its holdings in shares of Carnival by 213.9% in the second quarter. Moneta Group Investment Advisors LLC now owns 12,557 shares of the company’s stock valued at $102,000 after buying an additional 8,557 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Carnival during the 2nd quarter valued at $124,000. Mainstay Capital Management LLC ADV raised its stake in Carnival by 1,262.1% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,320 shares of the company’s stock valued at $125,000 after purchasing an additional 5,856 shares during the period. Bessemer Group Inc. raised its stake in Carnival by 202.9% during the 3rd quarter. Bessemer Group Inc. now owns 2,096 shares of the company’s stock valued at $134,000 after purchasing an additional 1,404 shares during the period. Finally, Belpointe Asset Management LLC acquired a new stake in Carnival during the 3rd quarter valued at $134,000. Hedge funds and other institutional investors own 75.89% of the company’s stock.
In other news, General Counsel Arnaldo Perez sold 7,000 shares of the company’s stock in a transaction on 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 can be accessed through the SEC website. Corporate insiders own 23.80% of the company’s stock.
Carnival (NYSE:CCL) last posted its quarterly earnings results on Thursday, September 27th. The company reported $2.36 earnings per share 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 business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the prior year, the business posted $2.29 earnings per share. Carnival’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, analysts predict that Carnival Corp will post 4.25 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 23rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Wednesday, November 21st. Carnival’s dividend payout ratio (DPR) is presently 52.36%.
Several brokerages have issued reports on CCL. Zacks Investment Research raised shares of Carnival from a “sell” rating to a “hold” rating in a research note on Thursday, September 20th. ValuEngine raised shares of Carnival from a “sell” rating to a “hold” rating in a research note on Friday, September 14th. Deutsche Bank cut their target price on shares of Carnival from $68.00 to $65.00 and set a “hold” rating on the stock in a research note on Friday, September 28th. Credit Suisse Group set a $76.00 target price on shares of Carnival and gave the company a “buy” rating in a research note on Tuesday, November 20th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Carnival in a research note on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $72.93.
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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.
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