CIBC Asset Management Inc Boosts Stock Position in Carnival Corporation $CCL

CIBC Asset Management Inc boosted its holdings in Carnival Corporation (NYSE:CCL) by 73.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 256,924 shares of the company’s stock after purchasing an additional 109,196 shares during the period. CIBC Asset Management Inc’s holdings in Carnival were worth $7,846,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Carnival by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,167 shares of the company’s stock valued at $2,191,000 after buying an additional 5,435 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Carnival during the 1st quarter valued at $228,000. Empowered Funds LLC lifted its position in shares of Carnival by 61.6% during the 1st quarter. Empowered Funds LLC now owns 30,437 shares of the company’s stock valued at $594,000 after buying an additional 11,601 shares during the last quarter. Woodline Partners LP lifted its position in shares of Carnival by 41.9% during the 1st quarter. Woodline Partners LP now owns 88,522 shares of the company’s stock valued at $1,729,000 after buying an additional 26,141 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Carnival by 57.0% during the 2nd quarter. Baird Financial Group Inc. now owns 64,720 shares of the company’s stock valued at $1,820,000 after buying an additional 23,484 shares during the last quarter. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Carnival Stock Performance

NYSE:CCL opened at $27.43 on Friday. The business’s 50-day moving average price is $26.59 and its two-hundred day moving average price is $28.06. Carnival Corporation has a twelve month low of $22.11 and a twelve month high of $34.03. The stock 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. 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 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. The company 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%.Carnival’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $0.13 EPS. As a group, equities analysts predict that Carnival Corporation will post 2.21 EPS for the current fiscal year.

Carnival Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, May 18th. Carnival’s dividend payout ratio (DPR) is currently 26.67%.

Insider Transactions at Carnival

In related news, 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sir Jonathon Band sold 11,988 shares of the firm’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 value 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 55,058 shares of company stock worth $1,524,195. 7.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stifel Nicolaus dropped their price target on Carnival from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. William Blair reissued an “outperform” rating on shares of Carnival in a report on Tuesday, March 3rd. Barclays dropped their price objective on Carnival from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. Sanford C. Bernstein dropped their price objective on Carnival from $33.00 to $28.70 and set a “market perform” rating on the stock in a report on Monday, March 30th. Finally, Zacks Research raised Carnival from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. One research 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.80.

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.