Carnival Corporation $CCL Stock Holdings Lessened by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans cut its Carnival position by 87.7% in the fourth quarter, selling 636,520 shares and leaving it with 89,449 shares worth about $2.73 million.
• Carnival reported stronger-than-expected quarterly results, with EPS of $0.20 versus the $0.18 estimate and revenue of $6.17 billion, up 6.1% year over year.
• The company announced a quarterly dividend of $0.15 per share, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $34.13.

Thrivent Financial for Lutherans trimmed its position in shares of Carnival Corporation (NYSE:CCL - Free Report) by 87.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,449 shares of the company's stock after selling 636,520 shares during the period. Thrivent Financial for Lutherans' holdings in Carnival were worth $2,731,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Carnival during the third quarter worth about $1,291,000. National Pension Service lifted its holdings in Carnival by 10.8% in the third quarter. National Pension Service now owns 2,795,560 shares of the company's stock valued at $80,820,000 after buying an additional 272,452 shares during the period. Vanguard Group Inc. lifted its holdings in Carnival by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 128,133,282 shares of the company's stock valued at $3,913,190,000 after buying an additional 368,445 shares during the period. Russell Investments Group Ltd. lifted its holdings in Carnival by 5.6% in the third quarter. Russell Investments Group Ltd. now owns 1,774,765 shares of the company's stock valued at $51,867,000 after buying an additional 93,565 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Carnival by 42.8% in the fourth quarter. Nordea Investment Management AB now owns 2,126,893 shares of the company's stock valued at $65,487,000 after buying an additional 637,605 shares during the period. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Carnival Trading Up 0.1%

NYSE:CCL opened at $26.01 on Monday. The firm's fifty day moving average is $26.06 and its 200-day moving average is $28.01. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.26 and a current ratio of 0.30. Carnival Corporation has a 52 week low of $21.62 and a 52 week high of $34.03. The firm has a market cap of $32.23 billion, a P/E 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 issued its earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $6.13 billion. During the same period in the prior year, the firm earned $0.13 earnings per share. Carnival's revenue was up 6.1% on a year-over-year basis. Equities analysts expect that Carnival Corporation will post 2.21 earnings per share for the current year.

Carnival Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be paid a $0.15 dividend. The ex-dividend date is Monday, May 18th. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. Carnival's dividend payout ratio (DPR) is presently 26.67%.

Insider Buying and Selling at Carnival

In other news, Director Sir Jonathon Band sold 11,988 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 52,601 shares in the company, valued at approximately $1,377,620.19. This trade represents a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 12,000 shares of company stock valued at $314,265 in the last three months. 7.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CCL. Wall Street Zen lowered shares of Carnival from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. HSBC raised shares of Carnival from a "hold" rating to a "buy" rating and reduced their target price for the stock from $33.60 to $30.10 in a report on Monday, March 30th. Stifel Nicolaus reduced their target price on shares of Carnival from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, March 11th. UBS Group reduced their target price on shares of Carnival from $38.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, April 13th. Finally, Citigroup reduced their target price on shares of Carnival from $39.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, March 30th. Nineteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $34.13.

About Carnival

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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