Carnival Corporation $CCL Shares Acquired by State of Michigan Retirement System

Key Points

• The State of Michigan Retirement System increased its stake in Carnival Corporation by 9.9%, acquiring a total of 312,244 shares worth approximately $8.78 million.
• Carnival's recent earnings beat consensus estimates with $1.43 EPS for the quarter, alongside revenue of $8.15 billion, which was above analyst predictions.
• Several analysts recently raised their price targets for Carnival stock, with Bank of America increasing its target from $31 to $38, indicating overall positive sentiment towards the stock.

State of Michigan Retirement System lifted its position in shares of Carnival Corporation (NYSE:CCL - Free Report) by 9.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 312,244 shares of the company's stock after purchasing an additional 28,000 shares during the period. State of Michigan Retirement System's holdings in Carnival were worth $8,780,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CCL. Causeway Capital Management LLC acquired a new position in shares of Carnival during the first quarter worth $518,816,000. Nuveen LLC acquired a new position in shares of Carnival during the first quarter worth $432,718,000. 59 North Capital Management LP acquired a new position in shares of Carnival during the first quarter worth $69,303,000. AGF Management Ltd. increased its stake in shares of Carnival by 14,603.8% in the first quarter. AGF Management Ltd. now owns 2,871,219 shares of the company's stock worth $56,075,000 after buying an additional 2,851,692 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Carnival by 24.7% in the first quarter. Invesco Ltd. now owns 12,965,228 shares of the company's stock worth $253,211,000 after buying an additional 2,566,148 shares during the last quarter. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival Stock Down 0.5%

CCL stock opened at $28.69 on Tuesday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.34 and a quick ratio of 0.30. Carnival Corporation has a 1-year low of $15.07 and a 1-year high of $32.80. The firm has a fifty day moving average price of $30.03 and a two-hundred day moving average price of $27.06. The firm has a market cap of $33.50 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 0.57 and a beta of 2.68.

Carnival (NYSE:CCL - Get Free Report) last released its earnings results on Monday, September 29th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.11. Carnival had a net margin of 10.07% and a return on equity of 27.86%. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the previous year, the firm earned $1.27 earnings per share. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. Carnival has set its Q4 2025 guidance at 0.230-0.230 EPS. FY 2025 guidance at 2.140-2.140 EPS. Research analysts predict that Carnival Corporation will post 1.77 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Carnival from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price target on shares of Carnival from $34.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. Stifel Nicolaus lifted their price target on shares of Carnival from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Mizuho lifted their price target on shares of Carnival from $35.00 to $37.00 and gave the stock an "outperform" rating in a research note on Thursday, September 25th. Finally, Zacks Research upgraded shares of Carnival from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Carnival currently has an average rating of "Moderate Buy" and a consensus target price of $33.00.

Carnival Profile

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America and Australia (NAA) Cruise, Europe and Asia (EA) Cruise Operations, Cruise Support, and Tour and Others. The North America and Australia (NAA) Cruise segment includes the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.

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