M.D. Sass Investors Services Inc. Buys New Shares in Carnival Corp (NYSE:CCL)

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M.D. Sass Investors Services Inc. purchased a new stake in shares of Carnival Corp (NYSE:CCL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 177,858 shares of the company’s stock, valued at approximately $8,279,000. Carnival accounts for approximately 1.9% of M.D. Sass Investors Services Inc.’s investment portfolio, making the stock its 24th largest position.

A number of other institutional investors and hedge funds also recently modified their holdings of CCL. Oregon Public Employees Retirement Fund grew its stake in shares of Carnival by 10.2% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 198,559 shares of the company’s stock valued at $9,243,000 after acquiring an additional 18,310 shares during the period. Holistic Financial Partners boosted its position in shares of Carnival by 6.3% in the second quarter. Holistic Financial Partners now owns 4,588 shares of the company’s stock worth $214,000 after purchasing an additional 272 shares during the period. Forte Capital LLC ADV boosted its position in shares of Carnival by 23.5% in the second quarter. Forte Capital LLC ADV now owns 20,924 shares of the company’s stock worth $974,000 after purchasing an additional 3,984 shares during the period. Sumitomo Life Insurance Co. increased its stake in shares of Carnival by 3.3% in the second quarter. Sumitomo Life Insurance Co. now owns 21,209 shares of the company’s stock worth $987,000 after purchasing an additional 670 shares in the last quarter. Finally, Carillon Tower Advisers Inc. increased its stake in shares of Carnival by 13.7% in the first quarter. Carillon Tower Advisers Inc. now owns 380,805 shares of the company’s stock worth $19,314,000 after purchasing an additional 45,996 shares in the last quarter. Institutional investors and hedge funds own 76.46% of the company’s stock.

Shares of CCL traded up $0.05 during mid-day trading on Wednesday, hitting $49.71. 6,262,680 shares of the stock were exchanged, compared to its average volume of 3,186,060. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.22 and a current ratio of 0.27. The company has a market cap of $25.78 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09. Carnival Corp has a 52-week low of $42.42 and a 52-week high of $67.69. The firm has a 50-day moving average of $45.44 and a two-hundred day moving average of $50.58.

Carnival (NYSE:CCL) last issued its quarterly earnings data on Thursday, June 20th. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts predict that Carnival Corp will post 4.34 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 23rd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, August 22nd. Carnival’s dividend payout ratio (DPR) is 46.95%.

A number of research firms recently weighed in on CCL. Deutsche Bank lowered their target price on shares of Carnival from $54.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Wolfe Research downgraded Carnival from an “outperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Zacks Investment Research downgraded Carnival from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. Berenberg Bank cut Carnival from a “buy” rating to a “hold” rating and lowered their price target for the stock from $60.00 to $48.00 in a report on Monday, July 1st. Finally, ValuEngine upgraded Carnival from a “strong sell” rating to a “sell” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $61.26.

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

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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