Bank of New York Mellon Corp Has $162.78 Million Stake in Carnival Corporation $CCL

Bank of New York Mellon Corp decreased its holdings in shares of Carnival Corporation (NYSE:CCL) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,329,893 shares of the company’s stock after selling 137,357 shares during the quarter. Bank of New York Mellon Corp’s holdings in Carnival were worth $162,775,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CCL. CVA Family Office LLC boosted its stake in Carnival by 15.6% during the 4th quarter. CVA Family Office LLC now owns 2,597 shares of the company’s stock worth $79,000 after acquiring an additional 350 shares during the last quarter. Net Worth Advisory Group boosted its stake in Carnival by 2.9% during the 4th quarter. Net Worth Advisory Group now owns 12,383 shares of the company’s stock worth $378,000 after acquiring an additional 354 shares during the last quarter. Triad Wealth Partners LLC boosted its stake in Carnival by 2.1% during the 4th quarter. Triad Wealth Partners LLC now owns 17,464 shares of the company’s stock worth $533,000 after acquiring an additional 358 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Carnival by 3.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 10,540 shares of the company’s stock worth $322,000 after acquiring an additional 358 shares during the last quarter. Finally, Brooklyn Investment Group boosted its stake in Carnival by 1.9% during the 3rd quarter. Brooklyn Investment Group now owns 21,363 shares of the company’s stock worth $618,000 after acquiring an additional 396 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Trading Down 1.5%

CCL opened at $27.43 on Friday. The company’s 50 day moving average is $26.59 and its 200-day moving average is $28.06. Carnival Corporation has a 1-year low of $22.11 and a 1-year high of $34.03. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 1.82. The company has a market cap of $33.98 billion, a P/E ratio of 12.19, a PEG ratio of 1.24 and a beta of 2.32.

Carnival (NYSE:CCL) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $6.13 billion. During the same period last year, the company posted $0.13 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Carnival Corporation will post 2.21 earnings per share for the current fiscal 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 paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Monday, May 18th. Carnival’s dividend payout ratio (DPR) is presently 26.67%.

Insider Activity at Carnival

In related news, insider Bettina Alejandra Deynes sold 43,058 shares of Carnival stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sir Jonathon Band sold 11,988 shares of Carnival 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 sale, the director owned 52,601 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 55,058 shares of company stock worth $1,524,195. 7.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Freedom Capital raised shares of Carnival to a “strong-buy” rating in a research note on Wednesday. Truist Financial cut their price objective on shares of Carnival from $30.00 to $29.00 and set a “hold” rating on the stock in a research report on Friday, May 22nd. Sanford C. Bernstein cut their price objective on shares of Carnival from $33.00 to $28.70 and set a “market perform” rating on the stock in a research report on Monday, March 30th. Wells Fargo & Company lowered their price target on shares of Carnival from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Finally, UBS Group lowered their price target on shares of Carnival from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Carnival has an average rating of “Moderate Buy” and an average target price of $34.80.

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.