Deltroit Asset Management UK LLP Takes $607,000 Position in Carnival Corporation $CCL

Deltroit Asset Management UK LLP purchased a new stake in shares of Carnival Corporation (NYSE:CCL) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 19,864 shares of the company’s stock, valued at approximately $607,000.

Several other large investors have also recently modified their holdings of CCL. Wellington Management Group LLP raised its stake in shares of Carnival by 99.6% during the third quarter. Wellington Management Group LLP now owns 12,159,619 shares of the company’s stock valued at $351,535,000 after acquiring an additional 6,066,336 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Carnival by 50.7% during the third quarter. Dimensional Fund Advisors LP now owns 14,510,016 shares of the company’s stock worth $419,573,000 after buying an additional 4,883,024 shares during the period. Norges Bank acquired a new stake in shares of Carnival during the fourth quarter worth $124,201,000. Causeway Capital Management LLC increased its position in shares of Carnival by 9.6% during the third quarter. Causeway Capital Management LLC now owns 31,912,001 shares of the company’s stock worth $922,576,000 after buying an additional 2,783,927 shares during the period. Finally, Alua Capital Management LP acquired a new stake in shares of Carnival during the third quarter worth $68,557,000. Institutional investors own 67.19% of the company’s stock.

Carnival Stock Down 1.5%

Shares of NYSE CCL opened at $27.43 on Friday. The firm has a market cap of $33.98 billion, a PE ratio of 12.19, a P/E/G ratio of 1.24 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’s fifty day simple moving average is $26.59 and its 200 day simple moving average is $28.06. 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 (NYSE:CCL) last issued its earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. Carnival had a net margin of 11.48% and a return on equity of 26.92%. Carnival’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 earnings per share. As a group, sell-side analysts forecast that Carnival Corporation will post 2.21 earnings per share for the current fiscal year.

Carnival Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.60 annualized dividend and a yield of 2.2%. Carnival’s dividend payout ratio is currently 26.67%.

Insider Buying and Selling at Carnival

In related news, insider Bettina Alejandra Deynes sold 43,058 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the transaction, the insider directly owned 69,238 shares of the company’s stock, valued at $1,945,587.80. This represents a 38.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sir Jonathon Band sold 11,988 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total transaction of $313,965.72. Following the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 55,058 shares of company stock worth $1,524,195. 7.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CCL. UBS Group decreased their price objective on shares of Carnival from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Stifel Nicolaus decreased their price objective on shares of Carnival from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. William Blair reiterated an “outperform” rating on shares of Carnival in a research report on Tuesday, March 3rd. Morgan Stanley upgraded shares of Carnival from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $33.00 to $31.00 in a research report on Thursday, March 19th. Finally, Sanford C. Bernstein decreased their price objective on shares of Carnival from $33.00 to $28.70 and set a “market perform” rating for the company in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.80.

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.