Carnival Corp (NYSE:CCL) Shares Acquired by Maryland Capital Management

Maryland Capital Management lifted its position in Carnival Corp (NYSE:CCL) by 20.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,491 shares of the company’s stock after purchasing an additional 10,287 shares during the quarter. Maryland Capital Management’s holdings in Carnival were worth $3,119,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. increased its stake in Carnival by 87.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 543 shares of the company’s stock worth $27,000 after acquiring an additional 253 shares during the last quarter. Essex Savings Bank bought a new stake in Carnival during the fourth quarter worth approximately $29,000. Sontag Advisory LLC bought a new stake in Carnival during the fourth quarter worth approximately $35,000. Doyle Wealth Management bought a new stake in Carnival during the fourth quarter worth approximately $36,000. Finally, Berman Capital Advisors LLC bought a new stake in Carnival during the fourth quarter worth approximately $39,000. 74.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE CCL traded up $0.63 during trading hours on Friday, reaching $46.55. The stock had a trading volume of 5,950,300 shares, compared to its average volume of 4,156,394. The company has a current ratio of 0.27, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. The firm has a market cap of $23.91 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 1.08 and a beta of 1.23. The company has a fifty day moving average price of $51.40. Carnival Corp has a 52-week low of $44.76 and a 52-week high of $67.69.

Carnival (NYSE:CCL) last announced its quarterly earnings results on Thursday, June 20th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.49 billion. Carnival had a return on equity of 12.15% and a net margin of 15.09%. Carnival’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. As a group, equities research analysts anticipate that Carnival Corp will post 4.34 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 24th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 4.30%. Carnival’s dividend payout ratio is currently 46.95%.

Several equities research analysts have weighed in on CCL shares. Deutsche Bank reissued a “hold” rating and set a $59.00 price objective on shares of Carnival in a research note on Wednesday, March 27th. Zacks Investment Research lowered Carnival from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. ValuEngine lowered Carnival from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Barclays lowered Carnival from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $69.00 to $55.00 in a research report on Friday, June 21st. Finally, SunTrust Banks dropped their target price on Carnival to $65.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $62.70.

In related news, CEO Arnold W. Donald bought 22,050 shares of the stock in a transaction on Tuesday, June 25th. The stock was bought at an average price of $45.23 per share, for a total transaction of $997,321.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.10% of the stock is owned by corporate insiders.

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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