Carnival Corporation $CCL Shares Purchased by Swedbank AB

Key Points

• Swedbank AB increased its Carnival position by 10% in the fourth quarter, buying 47,070 additional shares and bringing its total holdings to 519,939 shares valued at about $15.9 million.
• Carnival reported better-than-expected quarterly results, with EPS of $0.20 versus $0.18 expected and revenue of $6.17 billion, up 6.1% year over year.
• The company also announced a quarterly dividend of $0.15 per share, equal to a 2.3% annualized yield, while analysts currently maintain a Moderate Buy consensus with an average target price of $34.13.

Swedbank AB boosted its position in Carnival Corporation (NYSE:CCL - Free Report) by 10.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 519,939 shares of the company's stock after buying an additional 47,070 shares during the quarter. Swedbank AB's holdings in Carnival were worth $15,879,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BOCHK Asset Management Ltd acquired a new position in Carnival in the 4th quarter worth $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Carnival in the 3rd quarter valued at about $25,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Carnival in the 4th quarter valued at about $26,000. Newbridge Financial Services Group Inc. raised its stake in shares of Carnival by 381.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the company's stock valued at $29,000 after purchasing an additional 762 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Carnival by 182.0% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,021 shares of the company's stock valued at $30,000 after purchasing an additional 659 shares in the last quarter. Institutional investors and hedge funds own 67.19% of the company's stock.

Carnival Price Performance

Shares of NYSE:CCL opened at $26.01 on Tuesday. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 1.82. Carnival Corporation has a fifty-two week low of $21.62 and a fifty-two week high of $34.03. The firm has a 50-day simple moving average of $26.10 and a 200 day simple moving average of $28.01. The company has a market cap of $32.23 billion, a PE ratio of 11.56, a P/E/G ratio of 1.15 and a beta of 2.33.

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

Carnival Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, May 18th. Carnival's dividend payout ratio is currently 26.67%.

Insider Buying and Selling at Carnival

In related news, Director Sir Jonathon Band sold 11,988 shares of the business's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total transaction of $313,965.72. Following the completion of the sale, the director owned 52,601 shares of the company's stock, valued at $1,377,620.19. This represents a 18.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 12,000 shares of company stock worth $314,265. 7.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CCL. Sanford C. Bernstein cut their target price on shares of Carnival from $33.00 to $28.70 and set a "market perform" rating on the stock in a research note on Monday, March 30th. The Goldman Sachs Group cut their target price on shares of Carnival from $34.00 to $30.00 and set a "buy" rating on the stock in a research note on Wednesday, March 11th. HSBC upgraded shares of Carnival from a "hold" rating to a "buy" rating and cut their target price for the company from $33.60 to $30.10 in a research note on Monday, March 30th. Wall Street Zen lowered shares of Carnival from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Finally, Wells Fargo & Company cut their target price on shares of Carnival from $37.00 to $36.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 15th. Nineteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $34.13.

Carnival 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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