Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 62.38MM shares of Carnival Corp (CCL). This represents 5.6% of the company.
In their previous filing dated March 11, 2022 they reported 50.01MM shares and 5.10% of the company, an increase in shares of 24.73% and an increase in total ownership of 0.50% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 7.14% Downside
As of February 9, 2023, the average one-year price target for Carnival is $11.02. The forecasts range from a low of $6.87 to a high of $18.90. The average price target represents a decrease of 7.14% from its latest reported closing price of $11.87.
The projected annual revenue for Carnival is $21,588MM, an increase of 77.42%. The projected annual EPS is $0.51.
What is the Fund Sentiment?
There are 1161 funds or institutions reporting positions in Carnival. This is a decrease of 23 owner(s) or 1.94% in the last quarter. Average portfolio weight of all funds dedicated to CCL is 0.06%, a decrease of 25.48%. Total shares owned by institutions increased in the last three months by 7.38% to 575,769K shares. The put/call ratio of CCL is 1.68, indicating a bearish outlook.
What are large shareholders doing?
Public Investment Fund holds 50,831K shares representing 3.91% ownership of the company. No change in the last quarter.
Truist Financial holds 36,697K shares representing 2.82% ownership of the company. In it's prior filing, the firm reported owning 36,692K shares, representing an increase of 0.01%. The firm increased its portfolio allocation in CCL by 101.48% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 29,311K shares representing 2.26% ownership of the company. In it's prior filing, the firm reported owning 24,763K shares, representing an increase of 15.51%. The firm increased its portfolio allocation in CCL by 0.27% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 22,721K shares representing 1.75% ownership of the company. In it's prior filing, the firm reported owning 19,358K shares, representing an increase of 14.80%. The firm decreased its portfolio allocation in CCL by 0.26% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 22,376K shares representing 1.72% ownership of the company. In it's prior filing, the firm reported owning 17,949K shares, representing an increase of 19.78%. The firm increased its portfolio allocation in CCL by 4.77% over the last quarter.
Carnival Declares $0.50 Dividend
On January 16, 2020 the company declared a regular quarterly dividend of $0.50 per share ($2.00 annualized). Shareholders of record as of February 20, 2020 received the payment on March 13, 2020. Previously, the company paid $0.50 per share.
At the current share price of $11.87 / share, the stock's dividend yield is 16.85%. Looking back five years and taking a sample every week, the average dividend yield has been 4.15%, the lowest has been 2.62%, and the highest has been 16.67%. The standard deviation of yields is 2.13 (n=103).
The current dividend yield is 5.98 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.00. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -1.00%.
Carnival Background Information
(This description is provided by the company.)
Carnival Corporation & plc is one of the world's largest leisure travel companies with a portfolio of nine of the world's leading cruise lines. With operations in North America, Australia, Europe and Asia, its portfolio features Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, P&O Cruises (Australia), Costa Cruises, AIDA Cruises, P&O Cruises (UK) and Cunard.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
