Carnival Corporation $CCL Shares Sold by Mad River Investors

Key Points

• Mad River Investors reduced its Carnival stake by 80.4% in the third quarter, selling 76,696 shares and retaining 18,677 shares valued at approximately $458,000. Institutional investors and hedge funds collectively own 67.19% of Carnival.
• Carnival reported quarterly earnings of $1.43 per share, exceeding estimates of $1.35, while revenue rose 3.5% year over year to $8.44 billion. The company also declared a quarterly dividend of $0.15 per share, equivalent to a 2.1% annualized yield.
• CCL shares recently traded at $28.05, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $34.14.

Mad River Investors cut its position in shares of Carnival Corporation (NYSE:CCL - Free Report) by 80.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,677 shares of the company's stock after selling 76,696 shares during the period. Carnival accounts for about 0.2% of Mad River Investors' investment portfolio, making the stock its 26th largest position. Mad River Investors' holdings in Carnival were worth $458,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. North Dakota State Investment Board bought a new stake in Carnival in the third quarter worth approximately $959,000. VestGen Advisors LLC increased its stake in shares of Carnival by 16.1% during the 3rd quarter. VestGen Advisors LLC now owns 10,578 shares of the company's stock worth $260,000 after purchasing an additional 1,466 shares during the last quarter. Generali Asset Management SPA SGR increased its stake in shares of Carnival by 1,832.0% during the 3rd quarter. Generali Asset Management SPA SGR now owns 27,028 shares of the company's stock worth $663,000 after purchasing an additional 25,629 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Carnival by 3.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 553,055 shares of the company's stock valued at $13,572,000 after purchasing an additional 16,507 shares in the last quarter. Finally, SYM FINANCIAL Corp raised its holdings in shares of Carnival by 103.2% during the 3rd quarter. SYM FINANCIAL Corp now owns 15,851 shares of the company's stock valued at $389,000 after purchasing an additional 8,050 shares in the last quarter. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Carnival Trading Up 1.1%

Shares of CCL stock opened at $28.05 on Thursday. Carnival Corporation has a 12 month low of $21.45 and a 12 month high of $34.03. The company has a market cap of $37.72 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.12 and a beta of 2.38. The company has a quick ratio of 0.23, a current ratio of 0.27 and a debt-to-equity ratio of 1.54. The business's 50 day moving average is $24.74 and its two-hundred day moving average is $27.15.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings data on Tuesday, September 29th. The company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.08. The business had revenue of $8.44 billion during the quarter, compared to analysts' expectations of $8.39 billion. Carnival had a net margin of 11.37% and a return on equity of 24.83%. Carnival's revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.43 earnings per share. Carnival has set its Q4 2026 guidance at 0.200-0.200 EPS and its FY 2026 guidance at 2.240-2.240 EPS. Equities analysts predict that Carnival Corporation will post 2.26 EPS for the current year.

Carnival Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 6th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, November 6th. Carnival's dividend payout ratio (DPR) is 26.20%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CCL. Susquehanna reduced their price objective on shares of Carnival from $33.00 to $28.00 and set a "positive" rating for the company in a research note on Wednesday, September 30th. Sanford C. Bernstein reissued a "market perform" rating and set a $28.70 target price on shares of Carnival in a research report on Wednesday, September 30th. Freedom Broker increased their target price on shares of Carnival from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. Truist Financial raised their target price on Carnival from $29.00 to $31.00 and gave the company a "hold" rating in a report on Thursday, July 23rd. Finally, Wells Fargo & Company reduced their price target on Carnival from $36.00 to $34.00 and set an "overweight" rating for the company in a research report on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $34.14.

About Carnival

Carnival Corporation & plc NYSE: CCL is one of the world's largest leisure travel and cruise companies. It operates cruise lines that provide vacation travel, onboard entertainment, dining, accommodations, recreational activities and shore excursions. The company's brands serve a broad range of travelers, from mainstream and contemporary vacationers to premium and luxury guests.

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

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