ING Groep NV Takes $15.51 Million Position in Carnival Corporation $CCL

Key Points

• ING Groep NV disclosed a new position in Carnival, buying 507,926 shares worth about $15.5 million in the fourth quarter.
• Carnival reported stronger-than-expected quarterly results, posting EPS of $0.20 versus estimates of $0.18 and revenue of $6.17 billion, up 6.1% year over year.
• Despite some insider selling, analysts remain broadly constructive: Carnival has a “Moderate Buy” consensus with a $34.80 average price target, and the stock was trading near $27.43.

ING Groep NV purchased a new stake in Carnival Corporation (NYSE:CCL - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 507,926 shares of the company's stock, valued at approximately $15,512,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCL. BOCHK Asset Management Ltd acquired a new position in Carnival during the 4th quarter valued at about $25,000. Measured Wealth Private Client Group LLC acquired a new position in Carnival during the 3rd quarter valued at about $25,000. Lloyd Advisory Services LLC. acquired a new position in Carnival during the 4th quarter valued at about $26,000. Newbridge Financial Services Group Inc. increased its position in Carnival by 381.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the company's stock valued at $29,000 after buying an additional 762 shares in the last quarter. Finally, Optima Capital LLC acquired a new position in Carnival during the 4th quarter valued at about $32,000. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Carnival Stock Up 0.1%

Carnival stock opened at $27.43 on Monday. 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 business's 50-day simple moving average is $26.59 and its two-hundred day simple moving average is $28.08. The company has a market cap of $33.98 billion, a PE ratio of 12.19, a PEG ratio of 1.22 and a beta of 2.32. Carnival Corporation has a fifty-two week low of $22.11 and a fifty-two week high of $34.03.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings results 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 return on equity of 26.92% and a net margin of 11.48%.The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.13 billion. During the same quarter in the previous year, the business earned $0.13 EPS. The company's quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Carnival Corporation will post 2.21 EPS for the current year.

Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, May 18th. Carnival's dividend payout ratio is currently 26.67%.

Insider Activity 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 transaction of $313,965.72. Following the sale, the director owned 52,601 shares of the company's stock, valued at $1,377,620.19. This trade represents a 18.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bettina Alejandra Deynes sold 43,058 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the completion of the transaction, the insider owned 69,238 shares of the company's stock, valued at approximately $1,945,587.80. This represents a 38.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 55,058 shares of company stock worth $1,524,195. Insiders own 7.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CCL. Mizuho upped their target price on Carnival from $38.00 to $39.00 and gave the company an "outperform" rating in a research report on Friday, March 27th. Stifel Nicolaus reduced their target price on Carnival from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, March 11th. UBS Group reduced their target price on Carnival from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, April 13th. Barclays reduced their target price on Carnival from $37.00 to $36.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 24th. Finally, Wall Street Zen lowered Carnival from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.80.

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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