Carnival Corporation $CCL Shares Acquired by Allstate Corp

Allstate Corp lifted its holdings in shares of Carnival Corporation (NYSE:CCL) by 96.5% during the 4th quarter, Holdings Channel reports. The firm owned 74,258 shares of the company’s stock after buying an additional 36,476 shares during the period. Allstate Corp’s holdings in Carnival were worth $2,268,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Carnival by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 128,133,282 shares of the company’s stock valued at $3,913,190,000 after acquiring an additional 368,445 shares in the last quarter. State Street Corp raised its stake in shares of Carnival by 4.1% in the third quarter. State Street Corp now owns 47,369,740 shares of the company’s stock valued at $1,369,459,000 after acquiring an additional 1,845,850 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Carnival by 0.8% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 36,109,629 shares of the company’s stock valued at $1,043,929,000 after acquiring an additional 291,864 shares in the last quarter. Causeway Capital Management LLC raised its holdings in Carnival by 9.6% in the third quarter. Causeway Capital Management LLC now owns 31,912,001 shares of the company’s stock valued at $922,576,000 after acquiring an additional 2,783,927 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Carnival by 50.7% in the third quarter. Dimensional Fund Advisors LP now owns 14,510,016 shares of the company’s stock valued at $419,573,000 after acquiring an additional 4,883,024 shares in the last quarter. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Stock Performance

Shares of CCL stock opened at $27.97 on Friday. The stock has a market capitalization of $34.65 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.24 and a beta of 2.33. Carnival Corporation has a 52-week low of $22.11 and a 52-week high of $34.03. The stock’s 50-day moving average price is $26.28 and its 200 day moving average price is $28.02. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 1.82.

Carnival (NYSE:CCL) last issued its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 EPS. As a group, equities research analysts forecast that Carnival Corporation will post 2.21 EPS for the current year.

Carnival Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, May 18th. Carnival’s payout ratio is currently 26.67%.

Carnival News Summary

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Falling oil prices are easing fuel-cost pressure for Carnival and other cruise lines, which could lift near-term profitability as fuel is a major expense for the company. Carnival Sees Fuel Cost Relief As Travel Interest Shows Early Strength
• Positive Sentiment: Travel demand appears to be holding up early, with signs that consumers are still planning vacations and showing interest in cruises, supporting revenue expectations. Carnival Sees Fuel Cost Relief As Travel Interest Shows Early Strength
• Neutral Sentiment: Holland America, one of Carnival’s brands, announced year-round Europe cruising, which could help long-term capacity and product mix, but the benefit is more gradual than immediate. Holland America Expands to Year-Round Europe Cruising
• Negative Sentiment: Carnival disclosed a cybersecurity incident that exposed personal data, creating potential reputational and legal risk for the cruise operator. Cruise operator Carnival discloses personal data breach
• Negative Sentiment: Insider selling has also drawn attention, with reports that Carnival insiders sold about $13 million of stock over the past year, which may signal some caution from management or insiders. Carnival Insiders Sold US$13m Of Shares Suggesting Hesitancy

Insider Transactions at Carnival

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total transaction of $313,965.72. Following the transaction, the director owned 52,601 shares in the company, valued at approximately $1,377,620.19. The trade was a 18.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 12,000 shares of company stock worth $314,265. Insiders own 7.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Truist Financial cut their price target on Carnival from $30.00 to $29.00 and set a “hold” rating on the stock in a research note on Friday, May 22nd. Zacks Research raised shares of Carnival from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Morgan Stanley raised shares of Carnival from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $33.00 to $31.00 in a report on Thursday, March 19th. Citigroup cut their target price on Carnival from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Finally, Barclays cut their target price on Carnival from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Nineteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.13.

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.