ING Groep NV Acquires Shares of 507,926 Carnival Corporation $CCL

ING Groep NV acquired a new stake in Carnival Corporation (NYSE:CCL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 507,926 shares of the company’s stock, valued at approximately $15,512,000.

Several other institutional investors also recently bought and sold shares of CCL. BOCHK Asset Management Ltd acquired a new stake in Carnival in the fourth quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Carnival in the third quarter valued at approximately $25,000. Lloyd Advisory Services LLC. acquired a new stake in Carnival in the fourth quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. grew its holdings in Carnival by 381.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the company’s stock valued at $29,000 after purchasing an additional 762 shares during the period. Finally, Optima Capital LLC acquired a new stake in Carnival in the fourth quarter valued at approximately $32,000. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival Price Performance

NYSE:CCL opened at $27.43 on Monday. Carnival Corporation has a 12 month low of $22.11 and a 12 month high of $34.03. The stock has a 50 day moving average of $26.59 and a two-hundred day moving average of $28.08. 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 firm has a market cap of $33.98 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 1.22 and a beta of 2.32.

Carnival (NYSE:CCL) last posted its quarterly earnings data on Friday, March 27th. The company reported $0.20 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 during the quarter, compared to analyst estimates of $6.13 billion. During the same period in the previous year, the business earned $0.13 EPS. Carnival’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts expect 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 given a $0.15 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.2%. Carnival’s dividend payout ratio is 26.67%.

Analyst Ratings Changes

Several analysts have commented on the company. Morgan Stanley raised Carnival from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $33.00 to $31.00 in a report on Thursday, March 19th. William Blair reissued an “outperform” rating on shares of Carnival in a report on Tuesday, March 3rd. Wall Street Zen lowered Carnival from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Zacks Research upgraded Carnival from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Mizuho boosted their price objective on Carnival from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.80.

Insider Buying and Selling

In other news, insider Bettina Alejandra Deynes sold 43,058 shares of the company’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 value of $1,209,929.80. Following the completion of the sale, the insider directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sir Jonathon Band sold 11,988 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total value of $313,965.72. Following the completion of the sale, the director owned 52,601 shares of the company’s stock, valued at $1,377,620.19. This trade represents a 18.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 55,058 shares of company stock valued at $1,524,195 over the last 90 days. Company insiders own 7.90% of the company’s stock.

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.