Carnival Corporation $CCL Holdings Lifted by QRG Capital Management Inc.

Key Points

• Institutional buying increased: QRG Capital Management raised its Carnival stake by 36.8% to 572,743 shares, while other major funds also added positions. Institutional investors and hedge funds now own 67.19% of CCL.
• Analysts remain generally bullish: Carnival has a “Moderate Buy” consensus rating and an average price target of $34.47, with valuation metrics including a P/E ratio near 9.8 supporting the view that shares may be inexpensive.
• Risks remain significant: Higher fuel costs, softer ticket pricing, lower yield guidance and European demand disruptions have pressured expectations. The stock opened at $21.80, near its 52-week low, despite Carnival beating quarterly EPS estimates and maintaining a $0.15 quarterly dividend.

QRG Capital Management Inc. raised its position in Carnival Corporation (NYSE:CCL - Free Report) by 36.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 572,743 shares of the company's stock after purchasing an additional 154,101 shares during the quarter. QRG Capital Management Inc.'s holdings in Carnival were worth $16,363,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CCL. Geode Capital Management LLC raised its stake in Carnival by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 29,450,412 shares of the company's stock valued at $896,104,000 after acquiring an additional 683,311 shares in the last quarter. Nuveen LLC raised its stake in shares of Carnival by 1.4% during the fourth quarter. Nuveen LLC now owns 26,729,524 shares of the company's stock valued at $816,320,000 after purchasing an additional 364,529 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Carnival by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 15,904,029 shares of the company's stock worth $411,372,000 after purchasing an additional 834,885 shares during the period. Pacer Advisors Inc. grew its position in Carnival by 2,432.8% in the 4th quarter. Pacer Advisors Inc. now owns 6,689,954 shares of the company's stock valued at $204,311,000 after buying an additional 6,425,822 shares in the last quarter. Finally, Amundi increased its stake in Carnival by 67.3% during the 2nd quarter. Amundi now owns 6,770,304 shares of the company's stock valued at $193,428,000 after buying an additional 2,723,171 shares during the period. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Carnival News Summary

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Value-oriented investors may see CCL as inexpensive ahead of earnings: its forward price-to-earnings ratio is approximately 10, below its recent two-year average of 13. Analysts also expect the company to potentially beat quarterly estimates. Carnival Corp Stock Looks Cheap to Value Investors Ahead of Earnings Next Week
• Positive Sentiment: TD Cowen reduced its price target to $32 from $34 but maintained a Buy rating, indicating analysts still see substantial upside if Carnival executes on its earnings and recovery plans. TD Cowen Adjusts Price Target on Carnival to $32 From $34, Maintains Buy Rating
• Positive Sentiment: Carnival’s free cash flow has been strong relative to its market value, supporting the argument that the stock could be undervalued if operating performance stabilizes. However, much of that cash flow is needed to service the company’s substantial debt. Is Carnival Stock Cheap, Or Is The Cash Already Spoken For?
• Neutral Sentiment: Analyst sentiment remains broadly constructive, but the stock has materially underperformed other leisure and entertainment companies over the past year, raising questions about whether the discount reflects opportunity or increased operating risk. How Is Carnival Corporation Stock Performance Compared to Other Leisure and Entertainment Stocks
• Negative Sentiment: Jefferies cut its 2026 revenue estimate by 1% and reduced its 2026 and 2027 earnings-per-share forecasts by 3%, citing higher fuel costs and softer ticket pricing. The firm kept a Buy rating, but the estimate reductions are weighing on expectations before the September 29 report. Carnival faces fuel, pricing headwinds ahead of third-quarter results
• Negative Sentiment: Carnival lowered its 2026 yield outlook after Middle East-related disruptions reduced demand on some European itineraries. Management reportedly chose to protect pricing rather than fill all cabins, which may preserve long-term pricing power but hurts near-term occupancy and revenue. Should You Buy Carnival Stock While Europe Sails Emptier?
• Negative Sentiment: A sharp decline in Royal Caribbean following its proposed Sandals and Beaches Resorts investment spilled over into Carnival and other cruise operators, reflecting broader concerns about capital allocation and the cruise sector. Royal Caribbean Group Falls on Sandals Resorts Stake

Analyst Ratings Changes

A number of analysts have recently weighed in on CCL shares. Sanford C. Bernstein lowered shares of Carnival from a "market perform" rating to a "market perform" rating in a research note on Tuesday, June 23rd. TD Cowen decreased their price target on Carnival from $34.00 to $32.00 and set a "buy" rating for the company in a research note on Tuesday. BMO Capital Markets started coverage on Carnival in a research report on Tuesday, July 7th. They set a "market perform" rating and a $30.00 price target on the stock. Tigress Financial raised their target price on Carnival from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. Finally, Freedom Capital upgraded shares of Carnival to a "strong-buy" rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $34.47.

Carnival Price Performance

NYSE CCL opened at $21.80 on Thursday. The company has a current ratio of 0.33, a quick ratio of 0.29 and a debt-to-equity ratio of 1.80. Carnival Corporation has a 1 year low of $21.52 and a 1 year high of $34.03. The company has a market cap of $29.86 billion, a PE ratio of 9.82, a PEG ratio of 0.97 and a beta of 2.31. The stock's 50-day moving average price is $25.55 and its two-hundred day moving average price is $26.41.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings data on Tuesday, June 23rd. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The firm had revenue of $6.66 billion during 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 company's revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. On average, analysts predict that Carnival Corporation will post 2.21 EPS for the current year.

Carnival Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 7th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, August 7th. Carnival's dividend payout ratio is currently 27.03%.

Carnival Company Profile

Carnival Corporation & plc is a global leisure travel company that operates cruise lines and related vacation businesses. Its cruise brands serve travelers in North America, Europe, Australia, and other international markets, offering ocean voyages to destinations throughout the Caribbean, Europe, Alaska, Asia, Australia, and other regions.

The company's brand portfolio includes Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, Cunard, Costa Cruises, AIDA Cruises, P&O Cruises, and P&O Cruises Australia.

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