Traders Buy Shares of Carnival (CCL) on Weakness
Traders purchased shares of Carnival Corp (NYSE:CCL) on weakness during trading hours on Tuesday. $52.03 million flowed into the stock on the tick-up and $30.94 million flowed out of the stock on the tick-down, for a money net flow of $21.09 million into the stock. Of all equities tracked, Carnival had the 18th highest net in-flow for the day. Carnival traded down ($0.17) for the day and closed at $55.26
A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Carnival from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine raised shares of Carnival from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Goldman Sachs Group raised shares of Carnival from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $63.00 to $65.00 in a research report on Wednesday. Credit Suisse Group set a $76.00 target price on shares of Carnival and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Finally, Wolfe Research set a $73.00 target price on shares of Carnival and gave the stock a “buy” rating in a research report on Tuesday, December 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $69.70.
The company has a current ratio of 0.24, a quick ratio of 0.19 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $29.56 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.87 and a beta of 1.26.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 22nd will be issued a $0.50 dividend. The ex-dividend date is Thursday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.54%. Carnival’s dividend payout ratio (DPR) is presently 46.95%.
In related news, CEO Stein Kruse sold 6,966 shares of Carnival stock in a transaction that occurred on Friday, January 11th. The shares were sold at an average price of $52.27, for a total value of $364,112.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David Bernstein sold 24,682 shares of Carnival stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $57.08, for a total transaction of $1,408,848.56. Following the completion of the sale, the chief financial officer now directly owns 70,362 shares in the company, valued at approximately $4,016,262.96. The disclosure for this sale can be found here. Insiders sold a total of 71,792 shares of company stock worth $4,053,366 in the last ninety days. 24.10% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of CCL. Oregon Public Employees Retirement Fund raised its holdings in shares of Carnival by 4,485.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,764,160 shares of the company’s stock worth $178,000 after purchasing an additional 8,573,046 shares during the period. Capital World Investors raised its holdings in shares of Carnival by 94.4% in the 3rd quarter. Capital World Investors now owns 16,838,371 shares of the company’s stock worth $1,073,783,000 after purchasing an additional 8,176,078 shares during the period. Norges Bank bought a new stake in shares of Carnival in the 4th quarter worth approximately $209,889,000. Millennium Management LLC raised its holdings in shares of Carnival by 181.5% in the 4th quarter. Millennium Management LLC now owns 3,191,587 shares of the company’s stock worth $157,345,000 after purchasing an additional 2,057,923 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Carnival by 103.8% in the 4th quarter. American Century Companies Inc. now owns 3,707,605 shares of the company’s stock worth $182,785,000 after purchasing an additional 1,888,587 shares during the period. 75.85% of the stock is currently owned by institutional investors.
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About Carnival (NYSE:CCL)
Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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