Dana Investment Advisors Inc. Cuts Stock Holdings in Carnival Corporation $CCL

Dana Investment Advisors Inc. decreased its holdings in shares of Carnival Corporation (NYSE:CCL) by 9.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 382,536 shares of the company’s stock after selling 37,658 shares during the period. Dana Investment Advisors Inc.’s holdings in Carnival were worth $11,683,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CCL. BOCHK Asset Management Ltd purchased a new position in Carnival during the 4th quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new position in Carnival during the 3rd quarter valued at about $25,000. Newbridge Financial Services Group Inc. increased its position in Carnival by 381.0% during the 4th 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. Annis Gardner Whiting Capital Advisors LLC increased its position in Carnival by 182.0% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,021 shares of the company’s stock valued at $30,000 after purchasing an additional 659 shares during the period. Finally, LRI Investments LLC purchased a new position in Carnival during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CCL shares. TD Cowen raised their target price on shares of Carnival from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Friday. Sanford C. Bernstein cut their target price on shares of Carnival from $33.00 to $28.70 and set a “market perform” rating on the stock in a research report on Monday, March 30th. Wells Fargo & Company cut their target price on shares of Carnival from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. William Blair reissued an “outperform” rating on shares of Carnival in a research report on Tuesday, March 3rd. Finally, The Goldman Sachs Group cut their price objective on shares of Carnival from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Twenty equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.18.

Insider Transactions at Carnival

In related news, Director Sir Jonathon Band sold 11,988 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total transaction of $313,965.72. Following the completion of the transaction, the director directly owned 52,601 shares in the company, valued at $1,377,620.19. The trade was a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 12,000 shares of company stock worth $314,265 in the last three months. Insiders own 7.90% of the company’s stock.

Carnival Stock Down 2.2%

Shares of Carnival stock opened at $24.64 on Friday. The firm’s 50 day moving average price is $26.15 and its 200-day moving average price is $28.12. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 1.82. Carnival Corporation has a 52-week low of $21.62 and a 52-week high of $34.03. The company has a market cap of $30.53 billion, a P/E ratio of 10.95, a PEG ratio of 1.09 and a beta of 2.33.

Carnival (NYSE:CCL) last issued its quarterly earnings data on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. Carnival had a net margin of 11.48% and a return on equity of 26.92%. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.13 billion. During the same quarter in the previous year, the firm earned $0.13 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict that Carnival Corporation will post 2.21 EPS for the current fiscal year.

Carnival Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, May 18th. This represents a $0.60 dividend on an annualized basis and a yield of 2.4%. Carnival’s payout ratio is currently 26.67%.

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.