Securian Asset Management Inc. Lowers Stock Holdings in Carnival Corporation $CCL

Securian Asset Management Inc. reduced its holdings in Carnival Corporation (NYSE:CCL) by 43.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 29,525 shares of the company’s stock after selling 22,906 shares during the quarter. Securian Asset Management Inc.’s holdings in Carnival were worth $902,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CCL. BOCHK Asset Management Ltd purchased a new stake in Carnival in the 4th quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Carnival during the 3rd quarter worth about $25,000. 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 worth $29,000 after acquiring an additional 762 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Carnival by 182.0% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,021 shares of the company’s stock worth $30,000 after acquiring an additional 659 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in Carnival in the third quarter valued at approximately $30,000. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Mizuho upped their price target on shares of Carnival from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, March 27th. HSBC raised shares of Carnival from a “hold” rating to a “buy” rating and lowered their price objective for the company from $33.60 to $30.10 in a research note on Monday, March 30th. Weiss Ratings upgraded Carnival from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 30th. Stifel Nicolaus cut their target price on Carnival from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Finally, UBS Group reduced their target price on Carnival from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Twenty analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.37.

Insider Activity at Carnival

In other news, 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 completion of the sale, the director owned 52,601 shares of the company’s stock, valued at $1,377,620.19. This represents a 18.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 12,000 shares of company stock worth $314,265 in the last 90 days. Insiders own 7.90% of the company’s stock.

Carnival Price Performance

CCL opened at $25.03 on Thursday. Carnival Corporation has a 52-week low of $21.62 and a 52-week high of $34.03. The company has a 50 day moving average of $26.28 and a two-hundred day moving average of $28.17. The company has a market cap of $31.01 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.10 and a beta of 2.33. 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 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $6.17 billion for 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 business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 EPS. On average, analysts expect that Carnival Corporation will post 2.21 earnings per share for the current year.

Carnival Dividend Announcement

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

Carnival Company 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.