Sustainable Insight Capital Management LLC Invests $13.92 Million in Carnival Corporation (CCL) Stock
Sustainable Insight Capital Management LLC bought a new position in shares of Carnival Corporation (NYSE:CCL) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 212,300 shares of the company’s stock, valued at approximately $13,921,000. Carnival Corporation comprises approximately 6.5% of Sustainable Insight Capital Management LLC’s investment portfolio, making the stock its 6th biggest position.
Several other hedge funds and other institutional investors also recently bought and sold shares of CCL. Almanack Investment Partners LLC. purchased a new stake in Carnival Corporation in the 2nd quarter valued at about $117,000. Point72 Asia Hong Kong Ltd purchased a new stake in Carnival Corporation during the first quarter worth about $138,000. Harbour Capital Advisors LLC purchased a new stake in Carnival Corporation during the first quarter worth about $147,000. Parallel Advisors LLC increased its stake in Carnival Corporation by 87.9% during the first quarter. Parallel Advisors LLC now owns 2,674 shares of the company’s stock worth $167,000 after purchasing an additional 1,251 shares during the period. Finally, Bessemer Group Inc. increased its stake in Carnival Corporation by 109.4% during the second quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock worth $171,000 after purchasing an additional 1,368 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.
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Shares of Carnival Corporation (NYSE:CCL) traded up 1.62% during mid-day trading on Friday, reaching $67.94. The company’s stock had a trading volume of 2,998,032 shares. Carnival Corporation has a 12 month low of $45.92 and a 12 month high of $69.89. The company has a 50 day moving average of $66.34 and a 200-day moving average of $64.53. The firm has a market capitalization of $48.98 billion, a P/E ratio of 18.48 and a beta of 0.71.
Carnival Corporation (NYSE:CCL) last issued its quarterly earnings data on Tuesday, September 26th. The company reported $2.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.09. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.39 billion. Carnival Corporation had a return on equity of 12.15% and a net margin of 15.53%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 EPS. Equities research analysts forecast that Carnival Corporation will post $3.68 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Wednesday, August 23rd. Carnival Corporation’s dividend payout ratio (DPR) is presently 43.72%.
In other Carnival Corporation news, insider Alan Buckelew sold 15,000 shares of the stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $67.52, for a total transaction of $1,012,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.80% of the stock is currently owned by corporate insiders.
A number of analysts have issued reports on CCL shares. Stifel Nicolaus reissued a “buy” rating and set a $68.00 price objective on shares of Carnival Corporation in a research report on Friday, June 16th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $57.00 price target (up from $55.00) on shares of Carnival Corporation in a report on Tuesday, June 20th. Instinet upped their price target on Carnival Corporation from $72.00 to $75.00 and gave the company a “buy” rating in a report on Friday, June 23rd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $62.00 price target (up from $58.00) on shares of Carnival Corporation in a report on Sunday, June 25th. Finally, Wedbush reiterated a “neutral” rating and issued a $66.00 price objective (up previously from $61.00) on shares of Carnival Corporation in a research note on Sunday, June 25th. Nine research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $65.60.
Carnival Corporation 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.
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