Duff & Phelps Investment Management Co. Reduces Stock Holdings in Carnival Corp (NYSE:CCL)

Duff & Phelps Investment Management Co. lowered its position in Carnival Corp (NYSE:CCL) by 61.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 30,633 shares of the company’s stock after selling 49,668 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Carnival were worth $1,426,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Manchester Financial Inc. purchased a new position in shares of Carnival in the second quarter valued at $26,000. Advisory Alpha LLC purchased a new position in shares of Carnival in the first quarter valued at $29,000. Peddock Capital Advisors LLC purchased a new position in shares of Carnival in the first quarter valued at $35,000. Berman Capital Advisors LLC increased its position in shares of Carnival by 92.1% in the second quarter. Berman Capital Advisors LLC now owns 920 shares of the company’s stock valued at $42,000 after buying an additional 441 shares in the last quarter. Finally, Ashburton Jersey Ltd purchased a new position in shares of Carnival in the second quarter valued at $47,000. Institutional investors and hedge funds own 74.43% of the company’s stock.

Shares of CCL traded up $0.63 during trading hours on Friday, reaching $44.93. 2,081,700 shares of the company traded hands, compared to its average volume of 3,868,652. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $23.68 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. Carnival Corp has a fifty-two week low of $43.97 and a fifty-two week high of $67.69. The stock has a fifty day simple moving average of $46.12 and a 200 day simple moving average of $52.08.

Carnival (NYSE:CCL) last posted its quarterly earnings data on Thursday, June 20th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter last year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts predict that Carnival Corp will post 4.34 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 23rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date is Thursday, August 22nd. Carnival’s payout ratio is 46.95%.

In other Carnival news, CEO Arnold W. Donald purchased 22,050 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were purchased at an average cost of $45.23 per share, with a total value of $997,321.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Randall J. Weisenburger purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was acquired at an average cost of $46.50 per share, for a total transaction of $930,000.00. The disclosure for this purchase can be found here. 24.10% of the stock is currently owned by company insiders.

A number of brokerages have recently weighed in on CCL. Nomura cut Carnival from a “buy” rating to a “neutral” rating and dropped their price target for the company from $60.00 to $52.00 in a research report on Thursday, June 20th. Berenberg Bank cut Carnival from a “buy” rating to a “hold” rating and dropped their price target for the company from $60.00 to $48.00 in a research report on Monday, July 1st. William Blair cut Carnival from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 20th. Deutsche Bank decreased their price objective on Carnival from $54.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Finally, Barclays lowered Carnival from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $69.00 to $55.00 in a research note on Friday, June 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. Carnival has a consensus rating of “Hold” and a consensus price target of $61.26.

About Carnival

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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