Thrivent Financial for Lutherans Sells 636,520 Shares of Carnival Corporation $CCL

Thrivent Financial for Lutherans cut its stake in shares of Carnival Corporation (NYSE:CCL) by 87.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,449 shares of the company’s stock after selling 636,520 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Carnival were worth $2,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CCL. Wellington Management Group LLP lifted its position in 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 purchasing an additional 6,066,336 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Carnival by 50.7% during the third quarter. Dimensional Fund Advisors LP now owns 14,510,016 shares of the company’s stock valued at $419,573,000 after purchasing an additional 4,883,024 shares during the last quarter. Causeway Capital Management LLC lifted its position in Carnival by 9.6% during the third quarter. Causeway Capital Management LLC now owns 31,912,001 shares of the company’s stock valued at $922,576,000 after purchasing an additional 2,783,927 shares during the last quarter. Federated Hermes Inc. lifted its position in Carnival by 11,343.8% during the third quarter. Federated Hermes Inc. now owns 2,448,979 shares of the company’s stock valued at $70,800,000 after purchasing an additional 2,427,579 shares during the last quarter. Finally, Alua Capital Management LP bought a new stake in Carnival during the third quarter valued at approximately $68,557,000. 67.19% of the stock is currently owned by institutional investors.

Carnival Stock Up 0.1%

Shares of Carnival stock opened at $26.01 on Monday. Carnival Corporation has a 12-month low of $21.62 and a 12-month high of $34.03. The company has a market cap of $32.23 billion, a P/E ratio of 11.56, a PEG ratio of 1.15 and a beta of 2.33. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 1.82. The company’s fifty day simple moving average is $26.06 and its two-hundred day simple moving average is $28.01.

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

Carnival Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, May 18th. Carnival’s dividend payout ratio is currently 26.67%.

Analyst Upgrades and Downgrades

Several research analysts have commented on CCL shares. Barclays decreased their price target on shares of Carnival from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th. Morgan Stanley raised shares of Carnival from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $33.00 to $31.00 in a research note on Thursday, March 19th. William Blair reissued an “outperform” rating on shares of Carnival in a research note on Tuesday, March 3rd. The Goldman Sachs Group decreased their target price on shares of Carnival from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Finally, Truist Financial decreased their target price on shares of Carnival from $30.00 to $29.00 and set a “hold” rating on the stock in a research note on Friday. Nineteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.13.

Insider Transactions at Carnival

In related news, Director Sir Jonathon Band sold 11,988 shares of the stock in a transaction that occurred 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 sale, the director directly owned 52,601 shares of the company’s stock, valued at approximately $1,377,620.19. This represents a 18.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 12,000 shares of company stock valued at $314,265. Corporate insiders own 7.90% of the company’s stock.

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.