BI Asset Management Fondsmaeglerselskab A S Raises Stock Holdings in Carnival Corporation $CCL

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its Carnival stake by 21.2% in the fourth quarter, bringing its holdings to 379,978 shares valued at about $11.6 million.
• Several other institutional investors also added to or initiated positions, and hedge funds/institutions now own 67.19% of Carnival’s stock.
• Carnival reported quarterly earnings of $0.20 per share, topping estimates, while analysts currently rate the stock a Moderate Buy with an average target price of $34.80.

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Carnival Corporation (NYSE:CCL - Free Report) by 21.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 379,978 shares of the company's stock after purchasing an additional 66,399 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Carnival were worth $11,605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BOCHK Asset Management Ltd bought a new position in Carnival during the 4th quarter worth approximately $25,000. Measured Wealth Private Client Group LLC bought a new position in Carnival during the 3rd quarter worth approximately $25,000. Lloyd Advisory Services LLC. bought a new position in Carnival during the 4th quarter worth approximately $26,000. Newbridge Financial Services Group Inc. lifted its holdings in Carnival by 381.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the company's stock worth $29,000 after buying an additional 762 shares during the last quarter. Finally, Optima Capital LLC bought a new position in Carnival during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 67.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CCL shares. Freedom Capital raised Carnival to a "strong-buy" rating in a report on Wednesday. HSBC upgraded Carnival from a "hold" rating to a "buy" rating and dropped their price target for the stock from $33.60 to $30.10 in a research report on Monday, March 30th. Wall Street Zen cut Carnival from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Truist Financial dropped their price target on Carnival from $30.00 to $29.00 and set a "hold" rating on the stock in a research report on Friday, May 22nd. Finally, Barclays dropped their price target on Carnival from $37.00 to $36.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Carnival currently has an average rating of "Moderate Buy" and a consensus target price of $34.80.

Carnival Stock Down 1.5%

CCL opened at $27.43 on Friday. Carnival Corporation has a 12 month low of $22.11 and a 12 month high of $34.03. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.30 and a quick ratio of 0.26. The stock has a market cap of $33.98 billion, a P/E ratio of 12.19, a P/E/G ratio of 1.22 and a beta of 2.32. The stock's 50 day moving average price is $26.59 and its 200 day moving average price is $28.06.

Carnival (NYSE:CCL - Get Free Report) last posted its earnings results on Friday, March 27th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The firm had revenue of $6.17 billion for the quarter, compared to analysts' expectations of $6.13 billion. During the same period last year, the firm earned $0.13 EPS. The firm's revenue was up 6.1% compared to the same quarter last year. As a group, research analysts predict that Carnival Corporation will post 2.21 earnings per share for the current year.

Carnival Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a dividend of $0.15 per share. The ex-dividend date was Monday, May 18th. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. Carnival's dividend payout ratio (DPR) is 26.67%.

Insider Buying and Selling at Carnival

In other news, 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 transaction, the insider directly owned 69,238 shares in the company, valued at approximately $1,945,587.80. This trade represents a 38.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sir Jonathon Band sold 11,988 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total value of $313,965.72. Following the sale, the director directly owned 52,601 shares of the company's stock, valued at approximately $1,377,620.19. This represents a 18.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 55,058 shares of company stock worth $1,524,195. 7.90% of the stock is owned by insiders.

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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