Nuveen LLC Buys 364,529 Shares of Carnival Corporation $CCL

Nuveen LLC boosted its stake in Carnival Corporation (NYSE:CCL) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,729,524 shares of the company’s stock after acquiring an additional 364,529 shares during the period. Nuveen LLC’s holdings in Carnival were worth $816,320,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Carnival in the third quarter worth about $1,291,000. Swedbank AB increased its stake in shares of Carnival by 10.0% in the fourth quarter. Swedbank AB now owns 519,939 shares of the company’s stock worth $15,879,000 after purchasing an additional 47,070 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Carnival by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 128,133,282 shares of the company’s stock worth $3,913,190,000 after purchasing an additional 368,445 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Carnival by 5.6% in the third quarter. Russell Investments Group Ltd. now owns 1,774,765 shares of the company’s stock worth $51,867,000 after purchasing an additional 93,565 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Carnival by 42.8% in the fourth quarter. Nordea Investment Management AB now owns 2,126,893 shares of the company’s stock worth $65,487,000 after purchasing an additional 637,605 shares in the last quarter. Institutional investors own 67.19% of the company’s stock.

Carnival Price Performance

Shares of NYSE:CCL opened at $28.15 on Friday. The company has a 50 day moving average of $26.79 and a 200 day moving average of $28.11. The stock has a market cap of $34.88 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.15 and a beta of 2.32. Carnival Corporation has a 12 month low of $22.11 and a 12 month 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.

Carnival (NYSE:CCL) last issued its quarterly earnings data on Friday, March 27th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.13 billion. Carnival had a net margin of 11.48% and a return on equity of 26.92%. Carnival’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 earnings per share. As a group, sell-side analysts forecast that Carnival Corporation will post 2.22 EPS for the current fiscal year.

Carnival Dividend Announcement

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

Insider Buying and Selling

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the business’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 transaction, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bettina Alejandra Deynes sold 43,058 shares of the business’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 completion of the transaction, the insider directly owned 69,238 shares of the company’s stock, valued at approximately $1,945,587.80. This represents a 38.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 55,058 shares of company stock valued at $1,524,195. Corporate insiders own 7.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CCL shares. Wall Street Zen downgraded shares of Carnival from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Sanford C. Bernstein reduced their target price on shares of Carnival from $33.00 to $28.70 and set a “market perform” rating for the company in a research note on Monday, March 30th. Stifel Nicolaus reduced their target price on shares of Carnival from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Mizuho lifted their target price on shares of Carnival from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, March 27th. Finally, Barclays reduced their target price on shares of Carnival from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. One equities 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.com, Carnival has an average rating of “Moderate Buy” and a consensus target price of $34.80.

Carnival News Summary

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 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.