Carnival Corporation $CCL Shares Bought by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC raised its stake in Carnival Corporation (NYSE:CCL) by 33.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 138,600 shares of the company’s stock after buying an additional 35,100 shares during the quarter. Carnival comprises about 0.9% of Pier 88 Investment Partners LLC’s portfolio, making the stock its 26th biggest holding. Pier 88 Investment Partners LLC’s holdings in Carnival were worth $4,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Carnival by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 128,133,282 shares of the company’s stock valued at $3,913,190,000 after buying an additional 368,445 shares during the last quarter. State Street Corp lifted its position in Carnival by 4.1% in the third quarter. State Street Corp now owns 47,369,740 shares of the company’s stock valued at $1,369,459,000 after buying an additional 1,845,850 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Carnival by 0.8% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 36,109,629 shares of the company’s stock valued at $1,043,929,000 after buying an additional 291,864 shares during the last quarter. Causeway Capital Management LLC lifted its position in Carnival by 9.6% in the third quarter. Causeway Capital Management LLC now owns 31,912,001 shares of the company’s stock valued at $922,576,000 after buying an additional 2,783,927 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Carnival by 50.7% in the third quarter. Dimensional Fund Advisors LP now owns 14,510,016 shares of the company’s stock valued at $419,573,000 after buying an additional 4,883,024 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Stock Down 3.6%

Shares of NYSE:CCL opened at $25.44 on Tuesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.30 and a quick ratio of 0.26. The firm has a market capitalization of $31.51 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.17 and a beta of 2.33. The firm’s 50-day moving average is $26.50 and its two-hundred day moving average is $28.24. Carnival Corporation has a 1 year low of $21.55 and a 1 year high of $34.03.

Carnival (NYSE:CCL) last issued its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The company 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%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. Analysts predict that Carnival Corporation will post 2.21 EPS for the current year.

Carnival Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, May 18th. This represents a $0.60 dividend on an annualized basis and a yield of 2.4%. Carnival’s dividend payout ratio is 26.67%.

Insider Transactions at Carnival

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total transaction of $313,965.72. Following the sale, the director directly owned 52,601 shares in the company, valued at $1,377,620.19. This represents a 18.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

CCL has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Carnival from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Citigroup decreased their target price on shares of Carnival from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Stifel Nicolaus decreased their target price on shares of Carnival from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Sanford C. Bernstein decreased their target price on shares of Carnival from $33.00 to $28.70 and set a “market perform” rating on the stock in a research report on Monday, March 30th. Finally, Zacks Research lowered shares of Carnival from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. Twenty analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Carnival currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.37.

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.