Capital World Investors Has $84.74 Million Position in Carnival Corporation $CCL

Capital World Investors lowered its position in Carnival Corporation (NYSE:CCL) by 11.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,774,696 shares of the company’s stock after selling 365,682 shares during the quarter. Capital World Investors’ holdings in Carnival were worth $84,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in CCL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Carnival by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,167 shares of the company’s stock worth $2,191,000 after buying an additional 5,435 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Carnival during the 1st quarter worth about $228,000. Empowered Funds LLC lifted its stake in shares of Carnival by 61.6% during the 1st quarter. Empowered Funds LLC now owns 30,437 shares of the company’s stock worth $594,000 after buying an additional 11,601 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Carnival by 41.9% during the 1st quarter. Woodline Partners LP now owns 88,522 shares of the company’s stock worth $1,729,000 after buying an additional 26,141 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in shares of Carnival by 57.0% during the 2nd quarter. Baird Financial Group Inc. now owns 64,720 shares of the company’s stock worth $1,820,000 after buying an additional 23,484 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Price Performance

CCL stock opened at $27.72 on Wednesday. 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 Corporation has a 12 month low of $22.11 and a 12 month high of $34.03. The firm has a market cap of $34.34 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.20 and a beta of 2.32. The company’s 50-day moving average price is $26.70 and its two-hundred day moving average price is $28.10.

Carnival (NYSE:CCL) last released its 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 net margin of 11.48% and a return on equity of 26.92%. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. During the same period last year, the firm earned $0.13 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts anticipate that Carnival Corporation will post 2.21 earnings per share for the current fiscal year.

Carnival Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, May 18th. Carnival’s dividend payout ratio (DPR) is currently 26.67%.

Insider Activity

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the firm’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 transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bettina Alejandra Deynes sold 43,058 shares of the firm’s stock in a transaction dated 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 directly owned 69,238 shares in the company, 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. Over the last three months, insiders sold 55,058 shares of company stock worth $1,524,195. Insiders own 7.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wall Street Zen cut shares of Carnival from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. 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. Weiss Ratings cut shares of Carnival from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Barclays 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 Tuesday, March 24th. Finally, William Blair restated an “outperform” rating on shares of Carnival in a research note on Tuesday, March 3rd. One 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. According to MarketBeat.com, Carnival has an average rating of “Moderate Buy” and an average target price of $34.80.

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.