Concentric Capital Strategies LP Buys 243,467 Shares of Carnival Corporation $CCL

Concentric Capital Strategies LP increased its stake in shares of Carnival Corporation (NYSE:CCL) by 363.7% in the fourth quarter, HoldingsChannel reports. The firm owned 310,413 shares of the company’s stock after buying an additional 243,467 shares during the period. Concentric Capital Strategies LP’s holdings in Carnival were worth $9,480,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CCL. BOCHK Asset Management Ltd purchased a new stake in shares of Carnival during the fourth quarter valued at about $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Carnival during the 3rd quarter worth approximately $25,000. Lloyd Advisory Services LLC. purchased a new stake in Carnival during the fourth quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of 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 last quarter. Finally, Optima Capital LLC purchased a new stake in Carnival during the 4th quarter worth approximately $32,000. 67.19% of the stock is currently owned by institutional investors.

Carnival Stock Down 3.2%

Shares of CCL opened at $29.90 on Thursday. The company’s 50-day simple moving average is $27.11 and its 200-day simple moving average is $28.25. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.26 and a current ratio of 0.30. Carnival Corporation has a 1 year low of $22.58 and a 1 year high of $34.03. The stock has a market capitalization of $37.04 billion, a PE 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The firm 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%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. Analysts forecast that Carnival Corporation will post 2.22 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 issued a $0.15 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.60 dividend on an annualized basis and a yield of 2.0%. Carnival’s dividend payout ratio (DPR) is 26.67%.

Insiders Place Their Bets

In related news, 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 directly owned 69,238 shares of the company’s stock, valued at $1,945,587.80. The trade was a 38.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sir Jonathon Band sold 11,988 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total value of $313,965.72. Following the sale, the director owned 52,601 shares in the company, valued at approximately $1,377,620.19. This trade represents a 18.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 55,058 shares of company stock valued at $1,524,195. 7.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CCL shares. Mizuho increased their price objective 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. Loop Capital initiated coverage on Carnival in a research report on Monday, June 1st. They set a “buy” rating and a $36.00 price objective on the stock. Wall Street Zen downgraded Carnival from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. TD Cowen upped 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, May 15th. Finally, Sanford C. Bernstein reduced their price target on shares of Carnival from $33.00 to $28.70 and set a “market perform” rating on the stock in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Carnival currently has a consensus rating of “Moderate Buy” and an average target price of $34.94.

Key Carnival News

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

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.