Milford Funds Ltd. bought a new stake in shares of Carnival Corporation (NYSE:CCL – Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 3,298,670 shares of the company’s stock, valued at approximately $100,741,000. Carnival makes up about 2.0% of Milford Funds Ltd.’s portfolio, making the stock its 17th biggest position.
Other hedge funds have also recently added to or reduced their stakes in the company. BOCHK Asset Management Ltd purchased a new position in Carnival during the 4th quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Carnival during the third quarter worth about $25,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Carnival during the fourth quarter worth about $26,000. Newbridge Financial Services Group Inc. grew its holdings in shares of 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 buying an additional 762 shares in the last quarter. Finally, Optima Capital LLC purchased a new stake in shares of Carnival during the fourth quarter worth about $32,000. 67.19% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have recently commented on CCL. UBS Group lowered their price target on shares of Carnival from $38.00 to $35.00 and set a “buy” rating for the company in a report on Monday, April 13th. Mizuho lifted their price target on shares of Carnival from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, March 27th. Wells Fargo & Company lowered their price target on shares of Carnival from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. TD Cowen lifted their price target on shares of Carnival from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Truist Financial lowered their price target on shares of Carnival from $30.00 to $29.00 and set a “hold” rating for the company in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.85.
Carnival Price Performance
CCL opened at $29.14 on Friday. The company’s 50 day simple moving average is $26.84 and its 200 day simple moving average is $28.12. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.26 and a current ratio of 0.30. Carnival Corporation has a 1 year low of $22.11 and a 1 year high of $34.03. The stock has a market capitalization of $36.11 billion, a PE ratio of 12.95, a P/E/G ratio of 1.24 and a beta of 2.32.
Carnival (NYSE:CCL – Get Free Report) last released its earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. During the same period last year, the company earned $0.13 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts expect that Carnival Corporation will post 2.22 EPS for the current year.
Carnival Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors 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 dividend yield of 2.1%. Carnival’s dividend payout ratio (DPR) is currently 26.67%.
Insider Activity at Carnival
In related news, Director Sir Jonathon Band sold 11,988 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total value of $313,965.72. Following the sale, the director directly owned 52,601 shares of the company’s stock, valued at approximately $1,377,620.19. This trade represents a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bettina Alejandra Deynes sold 43,058 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the completion of the sale, the insider directly 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 SEC filing for this sale provides additional information. Insiders sold 55,058 shares of company stock worth $1,524,195 over the last three months. Corporate insiders own 7.90% of the company’s stock.
Carnival News Summary
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 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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