Havemeyer Place LP Buys New Stake in Carnival Corporation $CCL

Havemeyer Place LP bought a new stake in Carnival Corporation (NYSE:CCL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 81,774 shares of the company’s stock, valued at approximately $2,497,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BOCHK Asset Management Ltd acquired a new stake in Carnival in the 4th quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Carnival in the 3rd quarter valued at approximately $25,000. Lloyd Advisory Services LLC. acquired a new stake in Carnival in the 4th quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. increased its holdings in Carnival by 381.0% in 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 last quarter. Finally, Optima Capital LLC acquired a new stake in Carnival in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 67.19% of the company’s stock.

Analysts Set New Price Targets

CCL has been the subject of several research reports. Freedom Capital upgraded shares of Carnival to a “strong-buy” rating in a report on Wednesday. William Blair reiterated an “outperform” rating on shares of Carnival in a report on Tuesday, March 3rd. TD Cowen lifted their target price on shares of Carnival from $33.00 to $34.00 and gave the company a “buy” rating in a report on Friday, May 15th. Susquehanna dropped their target price on shares of Carnival from $40.00 to $30.00 and set a “positive” rating for the company in a report on Monday, March 23rd. Finally, Truist Financial dropped their target price on shares of Carnival from $30.00 to $29.00 and set a “hold” rating for the company in a report on Friday, May 22nd. One research 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. According to MarketBeat, Carnival currently has an average rating of “Moderate Buy” and an average target price of $34.80.

Insider Buying and Selling at Carnival

In other Carnival 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 value of $313,965.72. Following the completion of the transaction, the director 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 legal filing with the SEC, which is available at the SEC website. Also, insider Bettina Alejandra Deynes sold 43,058 shares of the business’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 transaction, the insider owned 69,238 shares of the company’s stock, valued at approximately $1,945,587.80. This trade represents a 38.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 55,058 shares of company stock valued at $1,524,195. Insiders own 7.90% of the company’s stock.

Carnival Stock Performance

NYSE:CCL opened at $27.43 on Friday. The company has a fifty day simple moving average of $26.59 and a two-hundred day simple moving average of $28.06. The company has a market cap of $33.98 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 1.22 and a beta of 2.32. 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 $22.11 and a 52 week high of $34.03.

Carnival (NYSE:CCL) last posted its quarterly earnings results on Friday, March 27th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.13 billion. Carnival had a net margin of 11.48% and a return on equity of 26.92%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 earnings per share. As a group, equities analysts anticipate that Carnival Corporation will post 2.21 earnings per share for the current fiscal year.

Carnival Announces Dividend

The firm 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. The ex-dividend date was Monday, May 18th. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. Carnival’s payout ratio is 26.67%.

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.