California Public Employees Retirement System Acquires 419,407 Shares of Carnival Corporation $CCL

Key Points

• CalPERS increased its stake in Carnival by 21.6% in the first quarter, buying 419,407 more shares and bringing its total holding to 2,359,463 shares worth about $61.1 million.
• Analyst sentiment is broadly positive, with 20 Buy ratings, one Strong Buy, and six Holds; the consensus rating is “Moderate Buy” with an average price target of $34.99.
• Carnival beat earnings expectations in its latest quarter, reporting $0.41 EPS versus $0.34 expected, while revenue rose 5.3% year over year to $6.66 billion. The company also announced a quarterly dividend of $0.15 per share, payable August 28.

California Public Employees Retirement System lifted its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,359,463 shares of the company's stock after buying an additional 419,407 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Carnival worth $61,063,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of CCL. 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 raised its holdings in shares of Carnival by 2.9% during the fourth quarter. Net Worth Advisory Group now owns 12,383 shares of the company's stock valued at $378,000 after purchasing an additional 354 shares during the period. Triad Wealth Partners LLC raised its holdings in shares of Carnival by 2.1% during the fourth quarter. Triad Wealth Partners LLC now owns 17,464 shares of the company's stock valued at $533,000 after purchasing an additional 358 shares during the period. Commerzbank Aktiengesellschaft FI boosted its position in shares of Carnival by 3.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 10,540 shares of the company's stock worth $322,000 after purchasing an additional 358 shares in the last quarter. Finally, StoneX Group Inc. boosted its position in shares of Carnival by 4.9% during the 4th quarter. StoneX Group Inc. now owns 7,935 shares of the company's stock worth $242,000 after purchasing an additional 368 shares in the last quarter. Institutional investors own 67.19% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on CCL shares. Freedom Capital raised Carnival to a "strong-buy" rating in a research report on Wednesday, June 3rd. Argus set a $35.00 price target on Carnival in a report on Friday, June 26th. Loop Capital initiated coverage on Carnival in a research note on Monday, June 1st. They issued a "buy" rating and a $36.00 price objective for the company. Susquehanna boosted their price objective on Carnival from $30.00 to $33.00 and gave the company a "positive" rating in a report on Wednesday, June 24th. Finally, Truist Financial decreased their price objective on Carnival from $30.00 to $29.00 and set a "hold" rating for the company in a report on Friday, May 22nd. One equities 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $34.99.

Insider Buying and Selling at Carnival

In other news, insider Bettina Alejandra Deynes sold 43,058 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.10, for a total value of $1,209,929.80. Following the transaction, the insider owned 69,238 shares in the company, valued at $1,945,587.80. This trade represents a 38.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.90% of the stock is owned by corporate insiders.

Carnival Trading Down 0.1%

NYSE:CCL opened at $26.39 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.33 and a quick ratio of 0.29. The firm has a 50-day moving average of $27.42 and a 200-day moving average of $28.21. The company has a market cap of $36.14 billion, a PE ratio of 11.89, a PEG ratio of 1.16 and a beta of 2.32. Carnival Corporation has a one year low of $23.45 and a one year high of $34.03.

Carnival (NYSE:CCL - Get Free Report) last posted its earnings results on Tuesday, June 23rd. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. Carnival had a net margin of 11.24% and a return on equity of 26.11%. The company had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.69 billion. The firm's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. 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, equities research analysts expect that Carnival Corporation will post 2.23 EPS for the current fiscal year.

Carnival Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 7th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. Carnival's dividend payout ratio is 27.03%.

About Carnival

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.