Andra AP fonden Sells 34,300 Shares of Carnival Corporation $CCL

Andra AP fonden decreased its holdings in Carnival Corporation (NYSE:CCL) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 984,600 shares of the company’s stock after selling 34,300 shares during the period. Andra AP fonden’s holdings in Carnival were worth $30,070,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CCL. Wellington Management Group LLP lifted its position in shares of Carnival by 99.6% in the third quarter. Wellington Management Group LLP now owns 12,159,619 shares of the company’s stock valued at $351,535,000 after acquiring an additional 6,066,336 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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. Norges Bank purchased a new position in shares of Carnival in the fourth quarter valued at about $124,201,000. Causeway Capital Management LLC lifted its position in shares of 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, Alua Capital Management LP purchased a new position in shares of Carnival in the third quarter valued at about $68,557,000. Institutional investors own 67.19% of the company’s stock.

Insider Activity at Carnival

In other Carnival news, insider Bettina Alejandra Deynes sold 43,058 shares of the company’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 sale, the insider owned 69,238 shares in the company, valued at $1,945,587.80. This represents a 38.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sir Jonathon Band sold 11,988 shares of the company’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 sale, the director owned 52,601 shares of the company’s stock, valued at approximately $1,377,620.19. This represents a 18.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 55,058 shares of company stock worth $1,524,195. 7.90% of the stock is owned by insiders.

Key Stories Impacting Carnival

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Several recent notes highlight Carnival’s low earnings multiple, strong earnings surprise history, and potential upside versus current levels, which supports the case that CCL may be undervalued. Is Carnival Corporation Ltd. (CCL) A Good Stock To Buy Now?
• Positive Sentiment: Wall Street coverage remains constructive, with recent articles citing an average analyst upside of about 26% and multiple buy/overweight ratings on the stock. Will Carnival (CCL) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Carnival scheduled its second-quarter earnings call for June 23, keeping attention on the upcoming results and guidance, but this is mainly a calendar update rather than a new fundamental catalyst. CARNIVAL CORPORATION LTD. TO HOLD CONFERENCE CALL ON SECOND QUARTER EARNINGS
• Negative Sentiment: Shares came under pressure after reports cited high fuel costs and broader market selling across cruise stocks, which can hurt margins and near-term sentiment. Why Is Carnival Stock Falling Wednesday?
• Negative Sentiment: Investors are also weighing the company’s newly disclosed cybersecurity incident, which could bring remediation costs, regulatory scrutiny, and litigation risk. Carnival (CCL) slides as investors weigh newly disclosed cybersecurity fallout and a risk-off tape ahead of key macro data

Carnival Trading Up 8.3%

CCL opened at $28.15 on Friday. The stock has a market cap of $34.88 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 1.15 and a beta of 2.32. The stock’s 50 day moving average price is $26.79 and its 200-day moving average price is $28.11. Carnival Corporation has a one year low of $22.11 and a one 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 announced its quarterly earnings data on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Carnival’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that Carnival Corporation will post 2.22 EPS for the current year.

Carnival Announces Dividend

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

Analyst Upgrades and Downgrades

CCL has been the topic of a number of research analyst reports. Weiss Ratings downgraded Carnival from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Freedom Capital upgraded Carnival to a “strong-buy” rating in a research report on Wednesday, June 3rd. Mizuho boosted their target price on Carnival from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, March 27th. William Blair reiterated an “outperform” rating on shares of Carnival in a research report on Tuesday, March 3rd. Finally, Barclays decreased 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. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.80.

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.