Carnival Corporation $CCL Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Carnival Corporation (NYSE:CCL) by 1,621.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,136,417 shares of the company’s stock after buying an additional 1,070,419 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Carnival were worth $34,706,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BOCHK Asset Management Ltd acquired a new stake in Carnival during the 4th quarter worth approximately $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Carnival during the 3rd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. lifted its holdings in Carnival by 381.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the company’s stock worth $29,000 after buying an additional 762 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings 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 worth $30,000 after buying an additional 659 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Carnival during the 3rd quarter worth approximately $30,000. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Carnival

In other news, Director Sir Jonathon Band sold 11,988 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total transaction of $313,965.72. Following the sale, the director owned 52,601 shares of the company’s stock, valued at approximately $1,377,620.19. This trade represents a 18.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 12,000 shares of company stock worth $314,265. 7.90% of the stock is currently owned by company insiders.

Carnival Price Performance

Shares of CCL opened at $24.93 on Tuesday. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 1.82. Carnival Corporation has a twelve month low of $21.62 and a twelve month high of $34.03. The firm has a market capitalization of $30.88 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.09 and a beta of 2.33. The firm’s fifty day simple moving average is $26.10 and its 200-day simple moving average is $28.09.

Carnival (NYSE:CCL) last issued its earnings results on Friday, March 27th. The company reported $0.20 earnings per share for the quarter, topping 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 business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. During the same quarter last year, the company earned $0.13 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts forecast that Carnival Corporation will post 2.21 EPS for the current fiscal year.

Carnival Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CCL. Morgan Stanley upgraded shares of Carnival from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $33.00 to $31.00 in a report on Thursday, March 19th. Sanford C. Bernstein reduced their target price on shares of Carnival from $33.00 to $28.70 and set a “market perform” rating on the stock in a report on Monday, March 30th. Mizuho increased their target price on shares of Carnival from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, March 27th. Citigroup reduced their target price on shares of Carnival from $39.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Finally, Susquehanna reduced their target price on shares of Carnival from $40.00 to $30.00 and set a “positive” rating on the stock in a report on Monday, March 23rd. Twenty research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.18.

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.