SEB Asset Management AB purchased a new stake in shares of Carnival Corporation (NYSE:CCL – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 378,985 shares of the company’s stock, valued at approximately $9,808,000.
Other large investors have also recently added to or reduced their stakes in the company. BOCHK Asset Management Ltd bought a new stake in Carnival during the fourth quarter valued at $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Carnival during the 3rd quarter valued at about $25,000. Lloyd Advisory Services LLC. bought a new stake in shares of Carnival during the 4th quarter valued at about $26,000. Newbridge Financial Services Group Inc. raised 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 acquiring an additional 762 shares during the period. Finally, Optima Capital LLC bought a new position in Carnival in the fourth quarter worth about $32,000. 67.19% of the stock is currently owned by institutional investors.
Carnival Trading Up 0.3%
Shares of NYSE:CCL opened at $26.13 on Wednesday. The company has a 50 day moving average of $27.46 and a 200-day moving average of $28.15. The firm has a market cap of $35.79 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.15 and a beta of 2.32. Carnival Corporation has a twelve month low of $23.45 and a twelve month high of $34.03. The company has a current ratio of 0.33, a quick ratio of 0.29 and a debt-to-equity ratio of 1.80.
Carnival Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 7th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 7th. Carnival’s payout ratio is currently 27.03%.
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 completion of the sale, the insider owned 69,238 shares in the company, valued at $1,945,587.80. This represents a 38.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 7.90% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
CCL has been the subject of several recent research reports. Stifel Nicolaus upped their target price on Carnival from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, June 12th. Wall Street Zen lowered Carnival from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research raised Carnival from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings cut Carnival from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Finally, Argus set a $35.00 price target on shares of Carnival in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Carnival currently has an average rating of “Moderate Buy” and a consensus price target of $34.99.
Read Our Latest Stock Report on CCL
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.
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