464,813 Shares in Carnival Corporation $CCL Acquired by Pinebridge Investments LLC

Pinebridge Investments LLC purchased a new position in shares of Carnival Corporation (NYSE:CCL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 464,813 shares of the company’s stock, valued at approximately $14,195,000.

Other large investors have also recently made changes to their positions in the company. BOCHK Asset Management Ltd purchased a new stake in shares of Carnival during the fourth quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Carnival during the third quarter worth approximately $25,000. Lloyd Advisory Services LLC. acquired a new position in Carnival during the fourth quarter worth $26,000. Newbridge Financial Services Group Inc. boosted its stake in Carnival by 381.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the company’s stock worth $29,000 after buying an additional 762 shares during the last quarter. Finally, Optima Capital LLC acquired a new position in Carnival during the fourth quarter worth $32,000. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carnival

In other news, insider Bettina Alejandra Deynes sold 43,058 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.10, for a total value of $1,209,929.80. Following the transaction, the insider owned 69,238 shares of the company’s stock, valued at $1,945,587.80. This represents a 38.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sir Jonathon Band sold 11,988 shares of the company’s stock in a transaction 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 position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 55,058 shares of company stock worth $1,524,195. Corporate insiders own 7.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CCL. Loop Capital began coverage on Carnival in a research note on Monday, June 1st. They set a “buy” rating and a $36.00 price objective on the stock. Citigroup lowered their price objective on Carnival from $39.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Mizuho boosted their price objective on Carnival from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, March 27th. Freedom Capital raised Carnival to a “strong-buy” rating in a research note on Wednesday. Finally, Susquehanna lowered their price objective on Carnival from $40.00 to $30.00 and set a “positive” rating on the stock in a research note on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.80.

Carnival Stock Performance

Shares of Carnival stock opened at $27.43 on Friday. Carnival Corporation has a 52 week low of $22.11 and a 52 week high of $34.03. The business’s fifty day simple moving average is $26.59 and its 200-day simple moving average is $28.06. The firm has a market cap of $33.98 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.22 and a beta of 2.32. 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 (NYSE:CCL) last announced its quarterly earnings results on Friday, March 27th. The company reported $0.20 EPS 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 analyst estimates of $6.13 billion. During the same quarter in the prior year, the company posted $0.13 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts forecast that Carnival Corporation will post 2.21 earnings per share for the current year.

Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, May 18th. Carnival’s dividend payout ratio is 26.67%.

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.