Entropy Technologies LP Purchases 221,763 Shares of Carnival Corporation $CCL

Entropy Technologies LP boosted its position in Carnival Corporation (NYSE:CCL) by 211.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 326,568 shares of the company’s stock after acquiring an additional 221,763 shares during the period. Entropy Technologies LP’s holdings in Carnival were worth $9,973,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Carnival by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 128,133,282 shares of the company’s stock worth $3,913,190,000 after acquiring an additional 368,445 shares in the last quarter. State Street Corp boosted its holdings in Carnival by 1.5% in the fourth quarter. State Street Corp now owns 48,074,173 shares of the company’s stock worth $1,468,185,000 after acquiring an additional 704,433 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings 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 worth $1,043,929,000 after acquiring an additional 291,864 shares in the last quarter. Causeway Capital Management LLC boosted its holdings in Carnival by 9.6% in the third quarter. Causeway Capital Management LLC now owns 31,912,001 shares of the company’s stock worth $922,576,000 after acquiring an additional 2,783,927 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Carnival by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 29,450,412 shares of the company’s stock worth $896,104,000 after acquiring an additional 683,311 shares in the last quarter. Institutional investors own 67.19% of the company’s stock.

Trending Headlines about Carnival

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Stifel raised its price target on Carnival and said it remains confident in the company’s financial outlook, a clear catalyst supporting the stock. Carnival (CCL) Stock Is Up, What You Need To Know
• Positive Sentiment: Jim Cramer said he likes Carnival and highlighted its low valuation, which may have reinforced the market’s view that the stock still looks inexpensive relative to fundamentals. Jim Cramer Says He Likes Carnival But Leans More Toward Viking Holdings
• Neutral Sentiment: Carnival scheduled a conference call for its second-quarter earnings on June 23, which keeps investor focus on upcoming results but does not by itself change the outlook. CARNIVAL CORPORATION LTD. TO HOLD CONFERENCE CALL ON SECOND QUARTER EARNINGS
• Neutral Sentiment: Several articles this week discussed Carnival as a potentially attractive consumer cyclical stock, adding to broader interest but offering no new company-specific operating update. Is Carnival Corporation Ltd. (CCL) A Good Stock To Buy Now?
• Negative Sentiment: Some commentary still suggested Carnival is less preferred than rival Viking Holdings, which could temper enthusiasm at the margin. Jim Cramer Says He Likes Carnival But Leans More Toward Viking Holdings

Carnival Stock Up 3.6%

CCL stock opened at $29.14 on Friday. Carnival Corporation has a twelve month low of $22.11 and a twelve month high of $34.03. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 1.82. The stock’s 50 day moving average is $26.84 and its 200-day moving average is $28.12. The firm has a market capitalization of $36.11 billion, a PE ratio of 12.95, a P/E/G ratio of 1.29 and a beta of 2.32.

Carnival (NYSE:CCL) last posted its earnings results on Friday, March 27th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. During the same quarter last year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts expect that Carnival Corporation will post 2.22 EPS for the current fiscal year.

Carnival Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.60 annualized dividend and a yield of 2.1%. Carnival’s payout ratio is currently 26.67%.

Insider Buying and Selling at Carnival

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total value of $313,965.72. Following the transaction, the director owned 52,601 shares of the company’s stock, valued at approximately $1,377,620.19. The trade was a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $28.10, for a total value 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 position. The disclosure for this sale is available in the SEC filing. In 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

Several research analysts have issued reports on CCL shares. Sanford C. Bernstein cut their price target on Carnival from $33.00 to $28.70 and set a “market perform” rating on the stock in a report on Monday, March 30th. Citigroup dropped their target price on Carnival from $39.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Mizuho raised their target price on Carnival from $38.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, March 27th. Barclays dropped their target price on Carnival from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. Finally, Truist Financial dropped their target price on Carnival from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Carnival has an average rating of “Moderate Buy” and an average price target of $34.85.

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.