Polymer Capital Management HK LTD Has $2.77 Million Stock Position in Carnival Corporation $CCL

Polymer Capital Management HK LTD lowered its stake in Carnival Corporation (NYSE:CCL) by 24.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 90,694 shares of the company’s stock after selling 29,306 shares during the quarter. Polymer Capital Management HK LTD’s holdings in Carnival were worth $2,770,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BOCHK Asset Management Ltd bought a new position in Carnival during the fourth quarter worth about $25,000. Measured Wealth Private Client Group LLC bought a new position in Carnival during the third quarter worth about $25,000. Lloyd Advisory Services LLC. bought a new position in Carnival during the fourth quarter worth about $26,000. Newbridge Financial Services Group Inc. grew its holdings 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 purchasing an additional 762 shares during the period. Finally, Optima Capital LLC bought a new position in Carnival during the fourth quarter worth about $32,000. Institutional investors own 67.19% of the company’s stock.

Carnival Trading Up 3.6%

Shares of CCL stock opened at $29.14 on Friday. 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 50 day moving average price of $26.84 and a two-hundred day moving average price of $28.12. The company has a market capitalization of $36.11 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 1.24 and a beta of 2.32.

Carnival (NYSE:CCL) last released its quarterly 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 net margin of 11.48% and a return on equity of 26.92%. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.13 billion. During the same period in the previous year, the business earned $0.13 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts predict that Carnival Corporation will post 2.22 earnings per share for the current year.

Carnival Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, May 18th. Carnival’s payout ratio is presently 26.67%.

Insider Buying and Selling

In other news, insider Bettina Alejandra Deynes sold 43,058 shares of Carnival stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.10, for a total value of $1,209,929.80. Following the completion of the sale, the insider directly owned 69,238 shares in the company, valued at approximately $1,945,587.80. The trade was a 38.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sir Jonathon Band sold 11,988 shares of Carnival 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 completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 55,058 shares of company stock valued at $1,524,195. 7.90% of the stock is owned by company insiders.

Carnival News Roundup

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CCL shares. Susquehanna reduced their price target on Carnival from $40.00 to $30.00 and set a “positive” rating for the company in a report on Monday, March 23rd. UBS Group reduced their price target on Carnival from $38.00 to $35.00 and set a “buy” rating for the company in a report on Monday, April 13th. HSBC upgraded Carnival from a “hold” rating to a “buy” rating and reduced their price target for the stock from $33.60 to $30.10 in a report on Monday, March 30th. Stifel Nicolaus lifted their price target on Carnival from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday. Finally, Citigroup reduced their price target on Carnival from $39.00 to $35.00 and set a “buy” rating for the company in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Carnival currently has a consensus rating of “Moderate Buy” and a consensus 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.