Carnival Corporation $CCL Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group increased its stake in Carnival by 0.3% in Q4 to 128,133,282 shares—owning 10.97% of the company after buying 368,445 shares, worth about $3.91 billion.
• Carnival beat quarterly estimates with $0.20 EPS (vs. $0.18 expected) and $6.17 billion in revenue, posting an 11.48% net margin and 26.92% ROE; analysts' consensus is a "Moderate Buy" with a $33.99 price target.
• The stock opened at $26.76 (down 1.5%), trades in a 52-week range of $17.33–$34.03, has a $33.16 billion market cap, institutional ownership of 67.19%, and insiders hold 7.90% after a recent director sale.

Vanguard Group Inc. grew its holdings in Carnival Corporation (NYSE:CCL - Free Report) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,133,282 shares of the company's stock after buying an additional 368,445 shares during the period. Vanguard Group Inc. owned 10.97% of Carnival worth $3,913,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in Carnival by 4.1% during the third quarter. State Street Corp now owns 47,369,740 shares of the company's stock worth $1,369,459,000 after purchasing an additional 1,845,850 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in 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 buying an additional 291,864 shares during the period. Causeway Capital Management LLC boosted its stake in 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 buying an additional 2,783,927 shares during the period. Dimensional Fund Advisors LP boosted its stake in Carnival by 50.7% during the third quarter. Dimensional Fund Advisors LP now owns 14,510,016 shares of the company's stock worth $419,573,000 after buying an additional 4,883,024 shares during the period. Finally, Viking Global Investors LP boosted its stake in Carnival by 6.4% during the second quarter. Viking Global Investors LP now owns 13,207,267 shares of the company's stock worth $371,388,000 after buying an additional 798,450 shares during the period. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Carnival Stock Down 1.5%

Shares of Carnival stock opened at $26.76 on Tuesday. Carnival Corporation has a 52-week low of $17.33 and a 52-week high of $34.03. The company has a 50 day moving average of $27.39 and a 200 day moving average of $28.37. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $33.16 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.19 and a beta of 2.48.

Carnival (NYSE:CCL - Get Free Report) last released its quarterly earnings data on Friday, March 27th. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. The company had revenue of $6.17 billion for the quarter, compared to analysts' expectations of $6.13 billion. Carnival had a net margin of 11.48% and a return on equity of 26.92%. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share. As a group, research analysts forecast that Carnival Corporation will post 2.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on CCL shares. William Blair reaffirmed an "outperform" rating on shares of Carnival in a research note on Tuesday, March 3rd. UBS Group lowered their price objective on shares of Carnival from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, April 13th. Barclays lowered their price objective on shares of Carnival from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, March 24th. Weiss Ratings raised shares of Carnival from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 30th. Finally, Wall Street Zen lowered shares of Carnival from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Twenty-one equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Carnival presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.99.

Insider Activity at Carnival

In other news, Director Sir Jonathon Band sold 11,988 shares of Carnival stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total value of $313,965.72. Following the transaction, the director directly owned 52,601 shares of the company's stock, valued at $1,377,620.19. The trade was a 18.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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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