Schwab Charles Investment Management Inc. Raises Position in Carnival Cruise Line (CCL)

Schwab Charles Investment Management Inc. boosted its stake in Carnival Cruise Line (NYSE:CCL) by 5.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,659,486 shares of the company’s stock after buying an additional 84,225 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Carnival Cruise Line were worth $108,830,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Eaton Vance Management lifted its stake in Carnival Cruise Line by 2,514.4% in the 1st quarter. Eaton Vance Management now owns 410,009 shares of the company’s stock valued at $26,888,000 after buying an additional 394,326 shares in the last quarter. Wealthfront Inc. purchased a new position in Carnival Cruise Line in the 1st quarter valued at about $672,000. Quantitative Systematic Strategies LLC purchased a new position in Carnival Cruise Line in the 1st quarter valued at about $2,737,000. Palouse Capital Management Inc. lifted its stake in Carnival Cruise Line by 3.0% in the 1st quarter. Palouse Capital Management Inc. now owns 72,959 shares of the company’s stock valued at $4,785,000 after buying an additional 2,113 shares in the last quarter. Finally, Eagle Global Advisors LLC lifted its stake in Carnival Cruise Line by 1.6% in the 1st quarter. Eagle Global Advisors LLC now owns 74,582 shares of the company’s stock valued at $4,891,000 after buying an additional 1,162 shares in the last quarter. 77.16% of the stock is currently owned by hedge funds and other institutional investors.

In related news, General Counsel Arnaldo Perez sold 8,567 shares of Carnival Cruise Line stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $68.73, for a total value of $588,809.91. Following the completion of the sale, the general counsel now owns 32,365 shares in the company, valued at approximately $2,224,446.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stein Kruse sold 8,171 shares of Carnival Cruise Line stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $68.73, for a total transaction of $561,592.83. Following the completion of the sale, the chief executive officer now owns 75,615 shares of the company’s stock, valued at approximately $5,197,018.95. The disclosure for this sale can be found here. Insiders have sold a total of 47,737 shares of company stock valued at $3,186,234 in the last 90 days. Insiders own 23.80% of the company’s stock.



Shares of Carnival Cruise Line opened at $64.02 on Monday, according to MarketBeat. The company has a market cap of $34.20 billion, a PE ratio of 16.17, a PEG ratio of 1.01 and a beta of 0.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.19 and a quick ratio of 0.14. Carnival Cruise Line has a 1 year low of $59.68 and a 1 year high of $72.70.

Carnival Cruise Line (NYSE:CCL) last announced its quarterly earnings results on Thursday, March 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.09. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.11 billion. Carnival Cruise Line had a net margin of 14.73% and a return on equity of 11.97%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. sell-side analysts expect that Carnival Cruise Line will post 4.39 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, May 25th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.12%. This is an increase from Carnival Cruise Line’s previous quarterly dividend of $0.45. Carnival Cruise Line’s dividend payout ratio (DPR) is currently 20.94%.

A number of research analysts have weighed in on the stock. ValuEngine raised shares of Carnival Cruise Line from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Barclays raised shares of Carnival Cruise Line from an “equal weight” rating to an “overweight” rating and set a $77.00 target price on the stock in a research note on Friday, March 23rd. Stifel Nicolaus raised their target price on shares of Carnival Cruise Line from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, March 19th. Credit Suisse Group raised their target price on shares of Carnival Cruise Line from $78.10 to $79.50 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Wells Fargo raised their target price on shares of Carnival Cruise Line from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $74.43.

Carnival Cruise Line 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.

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Institutional Ownership by Quarter for Carnival Cruise Line (NYSE:CCL)

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