Stralem & Co. Inc. Has $5.98 Million Position in Carnival Corp (CCL)

Stralem & Co. Inc. increased its position in Carnival Corp (NYSE:CCL) by 6.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,955 shares of the company’s stock after purchasing an additional 6,780 shares during the period. Carnival makes up approximately 2.7% of Stralem & Co. Inc.’s holdings, making the stock its 25th biggest position. Stralem & Co. Inc.’s holdings in Carnival were worth $5,983,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CCL. Whittier Trust Co. of Nevada Inc. boosted its stake in Carnival by 87.2% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 543 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares in the last quarter. Essex Savings Bank purchased a new stake in shares of Carnival during the 4th quarter valued at about $29,000. Sontag Advisory LLC purchased a new stake in shares of Carnival during the 4th quarter valued at about $35,000. Doyle Wealth Management purchased a new stake in shares of Carnival during the 4th quarter valued at about $36,000. Finally, Berman Capital Advisors LLC purchased a new stake in shares of Carnival during the 4th quarter valued at about $39,000. Institutional investors own 76.56% of the company’s stock.

In other Carnival news, CFO David Bernstein sold 24,682 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $57.08, for a total value of $1,408,848.56. Following the completion of the transaction, the chief financial officer now directly owns 70,362 shares in the company, valued at approximately $4,016,262.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stein Kruse sold 32,163 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $57.08, for a total value of $1,835,864.04. Following the completion of the transaction, the chief executive officer now owns 92,198 shares of the company’s stock, valued at $5,262,661.84. The disclosure for this sale can be found here. Insiders sold a total of 62,536 shares of company stock valued at $3,569,555 over the last 90 days. 24.10% of the stock is currently owned by corporate insiders.

Carnival stock traded up $0.12 during midday trading on Wednesday, hitting $54.92. The stock had a trading volume of 205,835 shares, compared to its average volume of 4,818,188. The firm has a market capitalization of $28.98 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 1.08 and a beta of 1.23. Carnival Corp has a 52-week low of $45.64 and a 52-week high of $67.69. The company has a current ratio of 0.22, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38.

Carnival (NYSE:CCL) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. Carnival had a return on equity of 12.30% and a net margin of 16.03%. The business had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the prior year, the company posted $0.52 EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, analysts predict that Carnival Corp will post 4.54 EPS for the current year.

CCL has been the subject of several research reports. Standpoint Research initiated coverage on shares of Carnival in a research report on Wednesday, December 26th. They set an “accumulate” rating for the company. Goldman Sachs Group raised shares of Carnival from a “neutral” rating to a “buy” rating and upped their price target for the company from $63.00 to $65.00 in a research report on Wednesday, March 13th. SunTrust Banks reduced their price target on shares of Carnival from $77.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, December 21st. Buckingham Research reduced their price target on shares of Carnival from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Finally, Nomura reduced their price target on shares of Carnival from $66.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $66.70.

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Carnival Profile

Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.

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Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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