59 North Capital Management LP Sells 547,482 Shares of Carnival Corporation $CCL

59 North Capital Management LP lowered its stake in shares of Carnival Corporation (NYSE:CCL) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,583,688 shares of the company’s stock after selling 547,482 shares during the period. Carnival accounts for 7.2% of 59 North Capital Management LP’s investment portfolio, making the stock its 7th largest position. 59 North Capital Management LP’s holdings in Carnival were worth $231,606,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BOCHK Asset Management Ltd acquired a new position in Carnival during the fourth quarter worth $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Carnival during the 3rd quarter worth $25,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Carnival in the 4th quarter valued at $26,000. Newbridge Financial Services Group Inc. raised its holdings 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 valued at $29,000 after buying an additional 762 shares during the period. Finally, Optima Capital LLC purchased a new stake in Carnival during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Stock Performance

Shares of CCL stock opened at $29.90 on Thursday. The stock has a fifty day moving average price of $27.11 and a 200 day moving average price of $28.25. The stock has a market cap of $37.04 billion, a PE ratio of 13.29, a P/E/G ratio of 1.37 and a beta of 2.32. Carnival Corporation has a 1 year low of $22.58 and a 1 year high of $34.03. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.26 and a current ratio of 0.30.

Carnival (NYSE:CCL) last released its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.13 billion. Carnival had a return on equity of 26.92% and a net margin of 11.48%.Carnival’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share. Sell-side analysts forecast that Carnival Corporation will post 2.22 earnings per share for the current fiscal year.

Carnival Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.60 annualized dividend and a yield of 2.0%. Carnival’s dividend payout ratio (DPR) is presently 26.67%.

Key Carnival News

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Analysts and market commentary continue to highlight Carnival as a potential earnings beat candidate for Q2, with expectations for stronger revenue and EPS ahead of the June 23 report. Article Title
• Positive Sentiment: Brokerage coverage remains supportive, with Carnival carrying a consensus “Moderate Buy” rating, reinforcing a bullish longer-term outlook. Article Title
• Positive Sentiment: Recent commentary says Carnival has outperformed the consumer cyclical sector over the past year, suggesting improving investor confidence in the cruise operator’s rebound story. Article Title
• Positive Sentiment: The easing of shipping-route disruption risk and the broader peace-deal headlines have been viewed as supportive for travel-related demand and lower operating friction for cruise lines. Article Title
• Neutral Sentiment: Several articles are focused on previewing Carnival’s upcoming quarterly results, including deeper looks at key operating metrics beyond revenue and EPS; these reports add attention, but do not by themselves change fundamentals. Article Title
• Negative Sentiment: Short-term pressure may also be coming from valuation-focused commentary noting the stock’s recent decline and comparing the share price with a lower GF Value estimate, which can encourage caution near earnings. Article Title

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen cut shares of Carnival from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Melius Research set a $36.00 price objective on Carnival in a research report on Wednesday. Freedom Capital raised Carnival to a “strong-buy” rating in a research report on Wednesday, June 3rd. UBS Group decreased their price objective on Carnival from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Finally, The Goldman Sachs Group decreased their price objective on Carnival from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.94.

Insider Buying and Selling at Carnival

In other Carnival 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 transaction of $1,209,929.80. Following the completion of the transaction, the insider owned 69,238 shares of the company’s stock, valued at approximately $1,945,587.80. This trade represents a 38.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 transaction, the director directly owned 52,601 shares of the company’s stock, valued at $1,377,620.19. The trade was a 18.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 55,058 shares of company stock valued at $1,524,195 in the last three months. 7.90% of the stock is currently owned by company insiders.

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.