Dana Investment Advisors Inc. Reduces Stock Position in Carnival Corporation $CCL

Dana Investment Advisors Inc. reduced its holdings in Carnival Corporation (NYSE:CCL) by 9.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 382,536 shares of the company’s stock after selling 37,658 shares during the period. Dana Investment Advisors Inc.’s holdings in Carnival were worth $11,683,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. BOCHK Asset Management Ltd purchased a new position in shares of Carnival in the 4th quarter worth $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Carnival in the 3rd quarter worth $25,000. Newbridge Financial Services Group Inc. grew its stake in shares of Carnival by 381.0% in the 4th 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. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Carnival by 182.0% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,021 shares of the company’s stock worth $30,000 after acquiring an additional 659 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Carnival in the 3rd quarter worth about $30,000. 67.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Sir Jonathon Band sold 11,988 shares of Carnival stock in a transaction dated 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 in the company, valued at $1,377,620.19. This trade represents a 18.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders have sold 12,000 shares of company stock worth $314,265. Company insiders own 7.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CCL shares. Mizuho raised their target price on shares of Carnival from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, March 27th. Weiss Ratings upgraded shares of Carnival from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 30th. Sanford C. Bernstein lowered their target price on shares of Carnival from $33.00 to $28.70 and set a “market perform” rating for the company in a report on Monday, March 30th. Zacks Research lowered shares of Carnival from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. Finally, Truist Financial lowered their target price on shares of Carnival from $34.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, March 24th. Twenty research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.18.

Carnival Trading Down 2.2%

Shares of CCL opened at $24.64 on Friday. Carnival Corporation has a 1-year low of $21.62 and a 1-year high of $34.03. The company has a 50-day moving average of $26.15 and a 200 day moving average of $28.12. The firm has a market capitalization of $30.53 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 1.09 and a beta of 2.33. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.30 and a quick ratio of 0.26.

Carnival (NYSE:CCL) last announced its quarterly earnings data 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 analyst estimates of $6.13 billion. During the same quarter last year, the business posted $0.13 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts expect that Carnival Corporation will post 2.21 EPS for the current year.

Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, May 18th. This represents a $0.60 dividend on an annualized basis and a yield of 2.4%. Carnival’s dividend payout ratio (DPR) is presently 26.67%.

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.