Nuveen LLC Has $816.32 Million Stock Position in Carnival Corporation $CCL

Nuveen LLC boosted its stake in shares of Carnival Corporation (NYSE:CCL) by 1.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 26,729,524 shares of the company’s stock after buying an additional 364,529 shares during the period. Nuveen LLC owned approximately 2.16% of Carnival worth $816,320,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. CVA Family Office LLC grew its holdings in Carnival by 15.6% in the fourth quarter. CVA Family Office LLC now owns 2,597 shares of the company’s stock worth $79,000 after purchasing an additional 350 shares during the period. Net Worth Advisory Group grew its holdings in Carnival by 2.9% in the fourth quarter. Net Worth Advisory Group now owns 12,383 shares of the company’s stock worth $378,000 after purchasing an additional 354 shares during the period. Triad Wealth Partners LLC grew its holdings in Carnival by 2.1% in the fourth quarter. Triad Wealth Partners LLC now owns 17,464 shares of the company’s stock worth $533,000 after purchasing an additional 358 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in Carnival by 3.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 10,540 shares of the company’s stock worth $322,000 after purchasing an additional 358 shares during the period. Finally, Brooklyn Investment Group grew its holdings in shares of Carnival by 1.9% during the third quarter. Brooklyn Investment Group now owns 21,363 shares of the company’s stock valued at $618,000 after buying an additional 396 shares during the last quarter. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CCL. The Goldman Sachs Group reduced their price objective on shares of Carnival from $34.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Barclays reduced their price objective on shares of Carnival from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. HSBC upgraded shares of Carnival from a “hold” rating to a “buy” rating and reduced their price objective for the company from $33.60 to $30.10 in a report on Monday, March 30th. Sanford C. Bernstein reduced their price objective on shares of Carnival from $33.00 to $28.70 and set a “market perform” rating for the company in a report on Monday, March 30th. Finally, Loop Capital began coverage on shares of Carnival in a report on Monday, June 1st. They set a “buy” rating and a $36.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Carnival currently has a consensus rating of “Moderate Buy” and an average price target of $34.80.

Carnival Stock Up 8.3%

CCL opened at $28.15 on Friday. Carnival Corporation has a fifty-two week low of $22.11 and a fifty-two week high of $34.03. The firm has a market capitalization of $34.88 billion, a P/E ratio of 12.51, a PEG ratio of 1.15 and a beta of 2.32. The company’s 50-day moving average is $26.79 and its 200 day moving average is $28.11. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.30 and a quick ratio of 0.26.

Carnival (NYSE:CCL) last released its quarterly 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 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 period in the previous year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts expect that Carnival Corporation will post 2.22 earnings per share for the current fiscal year.

Carnival Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, May 18th. This represents a $0.60 annualized dividend and a yield of 2.1%. Carnival’s payout ratio is 26.67%.

Insider Activity

In related 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 transaction, the director directly owned 52,601 shares in the company, valued at approximately $1,377,620.19. The trade was a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bettina Alejandra Deynes sold 43,058 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the transaction, the insider owned 69,238 shares in the company, valued at approximately $1,945,587.80. This trade represents a 38.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 55,058 shares of company stock worth $1,524,195. 7.90% of the stock is owned by corporate insiders.

More Carnival News

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Several recent notes highlight Carnival’s low earnings multiple, strong earnings surprise history, and potential upside versus current levels, which supports the case that CCL may be undervalued. Is Carnival Corporation Ltd. (CCL) A Good Stock To Buy Now?
• Positive Sentiment: Wall Street coverage remains constructive, with recent articles citing an average analyst upside of about 26% and multiple buy/overweight ratings on the stock. Will Carnival (CCL) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Carnival scheduled its second-quarter earnings call for June 23, keeping attention on the upcoming results and guidance, but this is mainly a calendar update rather than a new fundamental catalyst. CARNIVAL CORPORATION LTD. TO HOLD CONFERENCE CALL ON SECOND QUARTER EARNINGS
• Negative Sentiment: Shares came under pressure after reports cited high fuel costs and broader market selling across cruise stocks, which can hurt margins and near-term sentiment. Why Is Carnival Stock Falling Wednesday?
• Negative Sentiment: Investors are also weighing the company’s newly disclosed cybersecurity incident, which could bring remediation costs, regulatory scrutiny, and litigation risk. Carnival (CCL) slides as investors weigh newly disclosed cybersecurity fallout and a risk-off tape ahead of key macro data

Carnival 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.