Savant Capital LLC Lowers Position in Carnival Corporation $CCL

Key Points

• Savant Capital LLC sharply reduced its Carnival position by 81.7% in the fourth quarter, selling 83,932 shares and ending with 18,846 shares valued at about $576,000.
• Carnival also saw insider selling, including a large sale by insider Bettina Alejandra Deynes and another by Director Sir Jonathon Band; insiders have sold $1.52 million of stock over the last 90 days.
• The company recently beat earnings and revenue estimates, reporting $0.20 EPS on $6.17 billion in revenue, while analysts currently rate the stock a Moderate Buy with an average price target of $34.80.

Savant Capital LLC trimmed its position in shares of Carnival Corporation (NYSE:CCL - Free Report) by 81.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,846 shares of the company's stock after selling 83,932 shares during the quarter. Savant Capital LLC's holdings in Carnival were worth $576,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CCL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Carnival by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,167 shares of the company's stock valued at $2,191,000 after buying an additional 5,435 shares during the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of Carnival during the first quarter valued at about $228,000. Empowered Funds LLC lifted its position in shares of Carnival by 61.6% during the first quarter. Empowered Funds LLC now owns 30,437 shares of the company's stock valued at $594,000 after buying an additional 11,601 shares during the last quarter. Woodline Partners LP lifted its position in shares of Carnival by 41.9% during the first quarter. Woodline Partners LP now owns 88,522 shares of the company's stock valued at $1,729,000 after buying an additional 26,141 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Carnival by 57.0% during the second quarter. Baird Financial Group Inc. now owns 64,720 shares of the company's stock valued at $1,820,000 after buying an additional 23,484 shares during the last quarter. 67.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Bettina Alejandra Deynes sold 43,058 shares of the firm's stock in a transaction that occurred 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 sale, the insider owned 69,238 shares of the company's stock, valued at $1,945,587.80. This trade represents a 38.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sir Jonathon Band sold 11,988 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total transaction of $313,965.72. Following the sale, the director directly owned 52,601 shares in the company, valued at $1,377,620.19. The trade was a 18.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,058 shares of company stock worth $1,524,195 in the last ninety days. Corporate insiders own 7.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on CCL. Weiss Ratings lowered shares of Carnival from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Wells Fargo & Company cut their price target on shares of Carnival from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Wednesday, April 15th. Loop Capital initiated coverage on shares of Carnival in a report on Monday. They issued a "buy" rating and a $36.00 price target on the stock. Stifel Nicolaus cut their price target 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. Finally, Citigroup cut their price target 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. Twenty investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.80.

Carnival Price Performance

Shares of NYSE CCL opened at $27.22 on Thursday. The stock has a market capitalization of $33.72 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.23 and a beta of 2.32. Carnival Corporation has a 12 month low of $22.11 and a 12 month high of $34.03. The firm's 50 day simple moving average is $26.51 and its 200-day simple moving average is $28.05. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.30 and a quick ratio of 0.26.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings data on Friday, March 27th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. The business 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 business's revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.13 EPS. Analysts expect that Carnival Corporation will post 2.21 EPS for the current year.

Carnival Dividend Announcement

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

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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