Concentric Capital Strategies LP Increases Stake in Carnival Corporation $CCL

Concentric Capital Strategies LP increased its stake in shares of Carnival Corporation (NYSE:CCL) by 363.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 310,413 shares of the company’s stock after acquiring an additional 243,467 shares during the quarter. Concentric Capital Strategies LP’s holdings in Carnival were worth $9,480,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Carnival during the 3rd quarter valued at approximately $1,291,000. Swedbank AB raised its stake in Carnival by 10.0% during the fourth quarter. Swedbank AB now owns 519,939 shares of the company’s stock valued at $15,879,000 after purchasing an additional 47,070 shares in the last quarter. Vanguard Group Inc. lifted its position in Carnival by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 128,133,282 shares of the company’s stock valued at $3,913,190,000 after purchasing an additional 368,445 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Carnival by 5.6% during the third quarter. Russell Investments Group Ltd. now owns 1,774,765 shares of the company’s stock valued at $51,867,000 after purchasing an additional 93,565 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Carnival by 42.8% in the 4th quarter. Nordea Investment Management AB now owns 2,126,893 shares of the company’s stock worth $65,487,000 after buying an additional 637,605 shares in the last quarter. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Carnival Price Performance

Shares of CCL stock opened at $29.90 on Thursday. The stock has a 50 day moving average price of $27.11 and a 200 day moving average price of $28.25. Carnival Corporation has a 52-week low of $22.58 and a 52-week 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. The firm has a market capitalization of $37.04 billion, a P/E ratio of 13.29, a P/E/G ratio of 1.37 and a beta of 2.32.

Carnival (NYSE:CCL) last announced 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. 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 the consensus estimate of $6.13 billion. During the same quarter in the prior year, the company posted $0.13 EPS. Carnival’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that Carnival Corporation will post 2.22 earnings per share for the current year.

Carnival Dividend Announcement

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

Carnival News Summary

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

Insiders Place Their Bets

In other Carnival news, 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 completion of the sale, the director directly owned 52,601 shares in the company, valued at approximately $1,377,620.19. This represents a 18.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bettina Alejandra Deynes sold 43,058 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.10, for a total value of $1,209,929.80. Following the transaction, the insider owned 69,238 shares in the company, valued at approximately $1,945,587.80. This represents a 38.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 55,058 shares of company stock valued at $1,524,195. 7.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CCL has been the subject of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of Carnival in a report on Tuesday, March 3rd. TD Cowen raised their price objective on Carnival from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Loop Capital initiated coverage on Carnival in a report on Monday, June 1st. They issued a “buy” rating and a $36.00 target price for the company. UBS Group decreased their price target on Carnival from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Finally, Citigroup raised their price target on Carnival from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.94.

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.