Assenagon Asset Management S.A. Raises Stock Holdings in Carnival Corporation $CCL

Key Points

• Assenagon Asset Management increased its Carnival stake by 11.4% in the second quarter, acquiring 480,097 additional shares and holding 4.69 million shares worth approximately $133.9 million. Institutional investors collectively own 67.19% of the company.
• Carnival reported quarterly EPS of $0.41, exceeding analyst expectations of $0.34, while revenue rose 5.3% year over year to $6.66 billion. The company also declared a quarterly dividend of $0.15 per share, representing a 2.1% annualized yield.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $35.08 versus the stock’s cited price of $28.83. However, an insider recently sold 43,058 shares, reducing her position by 38.34%.

Assenagon Asset Management S.A. grew its position in Carnival Corporation (NYSE:CCL - Free Report) by 11.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,687,038 shares of the company's stock after acquiring an additional 480,097 shares during the quarter. Assenagon Asset Management S.A. owned about 0.34% of Carnival worth $133,909,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Trust Asset Management LLC raised its position in Carnival by 7.2% in the 2nd quarter. Trust Asset Management LLC now owns 12,371 shares of the company's stock valued at $353,000 after purchasing an additional 828 shares during the last quarter. GAMMA Investing LLC grew its position in Carnival by 20.4% during the 2nd quarter. GAMMA Investing LLC now owns 41,427 shares of the company's stock worth $1,184,000 after purchasing an additional 7,032 shares during the last quarter. CoreCap Advisors LLC increased its stake in Carnival by 22.7% in the second quarter. CoreCap Advisors LLC now owns 2,932 shares of the company's stock valued at $84,000 after purchasing an additional 543 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Carnival by 26.7% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 4,960 shares of the company's stock valued at $142,000 after purchasing an additional 1,044 shares during the period. Finally, CX Institutional raised its holdings in shares of Carnival by 24.7% in the second quarter. CX Institutional now owns 20,446 shares of the company's stock valued at $584,000 after buying an additional 4,053 shares during the last quarter. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Bettina Alejandra Deynes sold 43,058 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 69,238 shares of the company's stock, valued at approximately $1,945,587.80. This represents a 38.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.90% of the company's stock.

Carnival Stock Down 2.8%

CCL stock opened at $28.83 on Friday. Carnival Corporation has a one year low of $23.45 and a one year high of $34.03. The stock has a market capitalization of $39.49 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 1.31 and a beta of 2.35. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.29 and a current ratio of 0.33. The company has a fifty day moving average of $27.92 and a 200-day moving average of $27.87.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 23rd. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The business had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.69 billion. Carnival had a net margin of 11.24% and a return on equity of 26.11%. The business's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 earnings per share. Carnival has set its FY 2026 guidance at 2.220-2.220 EPS and its Q3 2026 guidance at 1.350-1.350 EPS. As a group, analysts expect that Carnival Corporation will post 2.23 EPS for the current year.

Carnival Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, August 7th. Carnival's payout ratio is currently 27.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CCL shares. BMO Capital Markets initiated coverage on shares of Carnival in a research note on Tuesday, July 7th. They set a "market perform" rating and a $30.00 target price for the company. TD Cowen boosted their price target on Carnival from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Truist Financial upped their price objective on Carnival from $29.00 to $31.00 and gave the company a "hold" rating in a research note on Thursday, July 23rd. Stifel Nicolaus increased their price objective on Carnival from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, June 12th. Finally, Wells Fargo & Company lifted their target price on Carnival from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $35.08.

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.

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