Eurizon Capital SGR S.p.A. Invests $3.36 Million in Carnival Corporation $CCL

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Carnival, buying 109,886 shares worth about $3.36 million in the fourth quarter.
• Carnival’s latest quarter beat expectations, with EPS of $0.20 versus $0.18 expected and revenue of $6.17 billion, up 6.1% year over year.
• The stock has mixed signals: analysts still rate it a Moderate Buy overall, but the company also faces concerns including a data breach, insider selling, and recent price-target cuts from some firms.

Eurizon Capital SGR S.p.A. bought a new position in shares of Carnival Corporation (NYSE:CCL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 109,886 shares of the company's stock, valued at approximately $3,356,000.

Several other large investors have also added to or reduced their stakes in CCL. Vanguard Group Inc. lifted its stake 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 acquiring an additional 368,445 shares during the last quarter. State Street Corp lifted its stake in Carnival by 4.1% in the third quarter. State Street Corp now owns 47,369,740 shares of the company's stock valued at $1,369,459,000 after acquiring an additional 1,845,850 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Carnival by 0.8% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 36,109,629 shares of the company's stock valued at $1,043,929,000 after acquiring an additional 291,864 shares during the last quarter. Causeway Capital Management LLC lifted its stake in Carnival by 9.6% in the third quarter. Causeway Capital Management LLC now owns 31,912,001 shares of the company's stock valued at $922,576,000 after acquiring an additional 2,783,927 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Carnival by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 29,450,412 shares of the company's stock valued at $896,104,000 after acquiring an additional 683,311 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company's stock.

Carnival News Summary

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Carnival highlighted a cruise-industry first by successfully using LNG bunkering in Latin America and the Western Caribbean, supporting its decarbonization strategy and potentially improving its long-term operating profile. Carnival Corporation Brings Cruise Industry's First LNG Bunkering to Latin America & Western Caribbean
• Neutral Sentiment: Truist lowered its price target on Carnival to $29 from $30 while keeping a Hold rating, which signals a modestly less bullish view but not a major change in fundamentals. Truist Lowers PT on Carnival Corporation (CCL) Stock
• Neutral Sentiment: The company’s Q1 results previously beat expectations, with stronger-than-expected revenue and earnings, but that good news appears to be more than offset by newer concerns.
• Negative Sentiment: Carnival disclosed a data breach affecting millions of customers, including sensitive personal information, which could create legal, reputational, and remediation costs. Carnival Corporation data breach affects 5.9 million customers
• Negative Sentiment: An insider sold more than 43,000 shares, which can weigh on investor sentiment even if the transaction may have personal rather than business-related motivations. Carnival insider sale disclosure
• Negative Sentiment: A separate article noted Carnival stock declined as the broader market improved, reflecting weak near-term trading momentum. Carnival (CCL) Stock Declines While Market Improves: Some Information for Investors

Analysts Set New Price Targets

CCL has been the subject of a number of research reports. UBS Group cut their target price 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. Wells Fargo & Company cut their target price on shares of Carnival from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Wednesday, April 15th. Wall Street Zen cut shares of Carnival from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Mizuho raised their target price on shares of Carnival from $38.00 to $39.00 and gave the stock an "outperform" rating in a research note on Friday, March 27th. Finally, Stifel Nicolaus cut their target price on shares of Carnival from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, March 11th. Twenty research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $34.80.

Carnival Stock Down 1.8%

Shares of NYSE CCL opened at $27.55 on Tuesday. The company 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. Carnival Corporation has a 52-week low of $22.11 and a 52-week high of $34.03. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.26 and a current ratio of 0.30. The company's 50 day moving average price is $26.41 and its 200-day moving average price is $28.04.

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, beating 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 company had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.13 billion. During the same quarter in the previous year, the business posted $0.13 EPS. Carnival's revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts forecast that Carnival Corporation will post 2.21 earnings per share for the current year.

Carnival Announces Dividend

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

Insider Activity at Carnival

In other Carnival news, insider Bettina Alejandra Deynes sold 43,058 shares of the business's stock in a transaction dated 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 completion of the sale, the insider directly owned 69,238 shares in the company, valued at $1,945,587.80. The trade was a 38.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $313,965.72. Following the sale, the director 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. Insiders sold 55,058 shares of company stock worth $1,524,195 in the last 90 days. Company insiders own 7.90% 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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