Robeco Institutional Asset Management B.V. Lowers Stock Holdings in Carnival Corp (NYSE:CCL)

Robeco Institutional Asset Management B.V. trimmed its stake in Carnival Corp (NYSE:CCL) by 88.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,283 shares of the company’s stock after selling 761,724 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Carnival were worth $4,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in CCL. Vanguard Group Inc. lifted its position in shares of Carnival by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 30,480,817 shares of the company’s stock worth $1,418,882,000 after purchasing an additional 240,301 shares during the period. Invesco Ltd. lifted its position in shares of Carnival by 22.0% in the 2nd quarter. Invesco Ltd. now owns 21,734,076 shares of the company’s stock worth $1,011,721,000 after purchasing an additional 3,925,980 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Carnival by 12,460.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,311,837 shares of the company’s stock worth $200,716,000 after purchasing an additional 4,277,507 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Carnival by 8.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,868,390 shares of the company’s stock worth $180,074,000 after purchasing an additional 317,499 shares during the period. Finally, APG Asset Management N.V. lifted its position in shares of Carnival by 34.4% in the 2nd quarter. APG Asset Management N.V. now owns 2,960,094 shares of the company’s stock worth $120,998,000 after purchasing an additional 757,188 shares during the period. 75.31% of the stock is owned by institutional investors.

Carnival stock traded up $0.62 during mid-day trading on Friday, reaching $44.52. 89,100 shares of the company traded hands, compared to its average volume of 5,414,514. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.25. Carnival Corp has a fifty-two week low of $39.92 and a fifty-two week high of $62.52. The company has a market capitalization of $23.14 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.03 and a beta of 1.11. The firm’s fifty day moving average is $44.67 and its two-hundred day moving average is $48.19.

Carnival (NYSE:CCL) last issued its quarterly earnings results on Thursday, September 26th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.53 by $0.10. Carnival had a net margin of 14.93% and a return on equity of 12.67%. The business had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.18 billion. As a group, equities research analysts predict that Carnival Corp will post 4.27 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a yield of 4.49%. Carnival’s payout ratio is 46.95%.

In other Carnival news, Director Sir Jonathon Band sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $40.83, for a total transaction of $204,150.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 24.10% of the company’s stock.

Several equities research analysts have recently weighed in on CCL shares. Stifel Nicolaus lowered their price target on shares of Carnival from $62.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, September 27th. TheStreet cut shares of Carnival from a “b-” rating to a “c+” rating in a research report on Friday, October 11th. Morgan Stanley lowered their price target on shares of Carnival from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. Berenberg Bank cut shares of Carnival from a “hold” rating to a “sell” rating and set a $38.00 target price for the company. in a research report on Friday, September 27th. Finally, Buckingham Research decreased their target price on shares of Carnival from $52.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $52.40.

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.

Read More: Market Capitalization – What it Means for Investors

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Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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