Investors Sell Shares of Carnival (CCL) on Strength (CCL)

Investors sold shares of Carnival Corporation (NYSE:CCL) on strength during trading on Wednesday. $35.34 million flowed into the stock on the tick-up and $51.71 million flowed out of the stock on the tick-down, for a money net flow of $16.37 million out of the stock. Of all equities tracked, Carnival had the 33rd highest net out-flow for the day. Carnival traded up $0.32 for the day and closed at $67.95

A number of brokerages recently issued reports on CCL. Credit Suisse Group upgraded shares of Carnival from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $66.05 to $70.00 in a research report on Tuesday. Zacks Investment Research cut shares of Carnival from a “hold” rating to a “sell” rating in a research report on Tuesday, November 28th. Deutsche Bank reiterated a “hold” rating and set a $61.00 target price (down previously from $62.00) on shares of Carnival in a research report on Wednesday, September 27th. Stifel Nicolaus increased their target price on shares of Carnival from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Finally, SunTrust Banks reiterated a “buy” rating and set a $84.00 target price (up previously from $72.00) on shares of Carnival in a research report on Tuesday, December 19th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $72.78.

The company has a quick ratio of 0.14, a current ratio of 0.18 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $49,900.00, a price-to-earnings ratio of 19.41, a P/E/G ratio of 1.18 and a beta of 0.73.

Carnival (NYSE:CCL) last issued its quarterly earnings data on Tuesday, December 19th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.12. Carnival had a net margin of 14.88% and a return on equity of 11.78%. The firm had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The company’s revenue was up 8.2% on a year-over-year basis. research analysts forecast that Carnival Corporation will post 4.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 24th were issued a dividend of $0.45 per share. The ex-dividend date was Wednesday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.58%. This is a positive change from Carnival’s previous quarterly dividend of $0.40. Carnival’s dividend payout ratio is currently 44.57%.

In other news, CEO Arnold W. Donald sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $68.00, for a total value of $408,000.00. Following the transaction, the chief executive officer now owns 115,572 shares of the company’s stock, valued at approximately $7,858,896. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arnold W. Donald sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $68.00, for a total transaction of $204,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 354,545 shares of company stock worth $23,694,789. Insiders own 23.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CCL. Grove Bank & Trust boosted its stake in shares of Carnival by 367.8% in the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock valued at $131,000 after purchasing an additional 1,600 shares during the last quarter. Smithfield Trust Co. boosted its stake in shares of Carnival by 826.2% in the 3rd quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock valued at $182,000 after purchasing an additional 2,520 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its stake in shares of Carnival by 1.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after purchasing an additional 40 shares during the last quarter. Sun Life Financial INC boosted its stake in shares of Carnival by 23,315.4% in the 2nd quarter. Sun Life Financial INC now owns 3,044 shares of the company’s stock valued at $200,000 after purchasing an additional 3,031 shares during the last quarter. Finally, Nine Chapters Capital Management LLC bought a new position in shares of Carnival in the 3rd quarter valued at about $200,000. 75.91% of the stock is currently owned by institutional investors.

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Carnival Company Profile

Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.

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