Carnival (NYSE:CCL) Insider Bettina Alejandra Deynes Sells 43,058 Shares

Key Points

• Carnival insider Bettina Alejandra Deynes sold 43,058 shares on May 28 at an average price of $28.10, for proceeds of about $1.21 million. The sale cut her direct holdings by 38.34%.
• Carnival shares fell 1.8% to $27.55 in Monday trading, after moving between a 52-week low of $22.11 and high of $34.03. The stock remains supported by a market cap of about $34.13 billion and a P/E ratio of 12.24.
• Fundamentals and sentiment remain mixed but generally positive: Carnival beat quarterly EPS and revenue estimates in its latest results, and analysts currently rate the stock a “Moderate Buy” with an average price target of $34.80. The company also pays a quarterly dividend of $0.15, yielding about 2.2% annually.

Carnival Corporation (NYSE:CCL - Get Free Report) insider Bettina Alejandra Deynes sold 43,058 shares of Carnival stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the sale, the insider directly owned 69,238 shares of the company's stock, valued at approximately $1,945,587.80. This trade represents a 38.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Carnival Stock Down 1.8%

NYSE:CCL traded down $0.51 during trading hours on Monday, hitting $27.55. The company's stock had a trading volume of 23,385,804 shares, compared to its average volume of 26,013,246. Carnival Corporation has a 52-week low of $22.11 and a 52-week high of $34.03. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $34.13 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 1.25 and a beta of 2.32. The stock has a fifty day moving average of $26.35 and a 200-day moving average of $28.03.

Carnival (NYSE:CCL - Get Free Report) last announced its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.13 billion. During the same period in the previous year, the business earned $0.13 EPS. Carnival's revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts forecast that Carnival Corporation will post 2.21 earnings per share for the current year.

Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, May 18th. Carnival's dividend payout ratio is 26.67%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Loop Capital began coverage on shares of Carnival in a research report on Monday. They set a "buy" rating and a $36.00 price objective for the company. Weiss Ratings lowered shares of Carnival from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, May 18th. The Goldman Sachs Group reduced their price target on shares of Carnival from $34.00 to $30.00 and set a "buy" rating for the company in a research report on Wednesday, March 11th. William Blair restated an "outperform" rating on shares of Carnival in a research note on Tuesday, March 3rd. Finally, HSBC raised Carnival from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $33.60 to $30.10 in a report on Monday, March 30th. Twenty investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $34.80.

Hedge Funds Weigh In On Carnival

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Carnival by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 128,133,282 shares of the company's stock valued at $3,913,190,000 after purchasing an additional 368,445 shares during the last quarter. State Street Corp raised its stake in shares of Carnival by 1.5% during the fourth quarter. State Street Corp now owns 48,074,173 shares of the company's stock worth $1,468,185,000 after purchasing an additional 704,433 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Carnival by 0.8% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 36,109,629 shares of the company's stock worth $1,043,929,000 after purchasing an additional 291,864 shares during the period. Causeway Capital Management LLC lifted its holdings in shares of Carnival by 9.6% during the third quarter. Causeway Capital Management LLC now owns 31,912,001 shares of the company's stock worth $922,576,000 after purchasing an additional 2,783,927 shares during the period. Finally, Geode Capital Management LLC grew its position in Carnival by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 29,450,412 shares of the company's stock valued at $896,104,000 after buying an additional 683,311 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company's stock.

Carnival Company Profile

Carnival Corporation NYSE: CCL is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company's core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.

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