Northwestern Mutual Wealth Management Co. Acquires 20,813 Shares of Carnival Corporation $CCL

Northwestern Mutual Wealth Management Co. increased its holdings in shares of Carnival Corporation (NYSE:CCL) by 31.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,811 shares of the company’s stock after acquiring an additional 20,813 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Carnival were worth $2,651,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new stake in Carnival during the 3rd quarter worth approximately $25,000. BOCHK Asset Management Ltd bought a new stake in Carnival during the 4th quarter worth approximately $25,000. Lloyd Advisory Services LLC. bought a new stake in Carnival during the 4th quarter worth approximately $26,000. Newbridge Financial Services Group Inc. grew its position in Carnival by 381.0% during the 4th 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 last quarter. Finally, Johnson Financial Group Inc. bought a new stake in Carnival during the 3rd quarter worth approximately $32,000. 67.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Carnival

In other news, insider Bettina Alejandra Deynes sold 43,058 shares of the firm’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 transaction, the insider directly owned 69,238 shares in the company, valued at $1,945,587.80. This trade represents a 38.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sir Jonathon Band sold 11,988 shares of the firm’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 completion of the transaction, the director owned 52,601 shares in the company, valued at $1,377,620.19. This represents a 18.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,058 shares of company stock worth $1,524,195 over the last 90 days. 7.90% of the stock is owned by corporate insiders.

Carnival Stock Down 1.5%

Shares of CCL opened at $27.43 on Friday. The firm has a market capitalization of $33.98 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.24 and a beta of 2.32. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.26 and a current ratio of 0.30. The business’s fifty day moving average price is $26.59 and its two-hundred day moving average price is $28.06. Carnival Corporation has a 52 week low of $22.11 and a 52 week high of $34.03.

Carnival (NYSE:CCL) last announced its quarterly earnings data on Friday, March 27th. The company reported $0.20 EPS 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 firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. During the same period last year, the company earned $0.13 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Carnival Corporation will post 2.21 earnings per share for the current year.

Carnival Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, May 18th. Carnival’s dividend payout ratio (DPR) is currently 26.67%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup decreased their price target on Carnival from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Susquehanna decreased their price target on Carnival from $40.00 to $30.00 and set a “positive” rating on the stock in a research report on Monday, March 23rd. Freedom Capital upgraded Carnival to a “strong-buy” rating in a research report on Wednesday. Stifel Nicolaus decreased their price objective on Carnival from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Finally, Wells Fargo & Company decreased their price objective on Carnival from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. One 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 stock. According to MarketBeat.com, Carnival currently has an average rating of “Moderate Buy” and an average target price of $34.80.

About Carnival

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.