Causeway Capital Management LLC Acquires Shares of 26,565,066 Carnival Corporation $CCL

Key Points

• Causeway Capital Management LLC has invested approximately $518.82 million by acquiring 26,565,066 shares of Carnival Corporation, making it the firm's second largest holding.
• Other institutional investors such as Nuveen LLC and AQR Capital Management LLC have also increased their stakes in Carnival, contributing to institutional ownership of 67.19% of its stock.
• Carnival's stock received multiple upgrades from analysts, with 13 rating it as a Buy and an average price target set at $30.71.

Causeway Capital Management LLC acquired a new stake in Carnival Corporation (NYSE:CCL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 26,565,066 shares of the company's stock, valued at approximately $518,816,000. Carnival accounts for 10.8% of Causeway Capital Management LLC's holdings, making the stock its 2nd biggest holding. Causeway Capital Management LLC owned approximately 2.28% of Carnival at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CCL. Price T Rowe Associates Inc. MD raised its holdings in shares of Carnival by 4.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,476,588 shares of the company's stock valued at $36,798,000 after buying an additional 60,833 shares during the period. Coldstream Capital Management Inc. grew its stake in Carnival by 5.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 22,775 shares of the company's stock worth $568,000 after purchasing an additional 1,244 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Carnival by 2.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 627,132 shares of the company's stock worth $15,628,000 after purchasing an additional 16,529 shares in the last quarter. Northern Trust Corp grew its stake in Carnival by 14.8% during the 4th quarter. Northern Trust Corp now owns 10,638,692 shares of the company's stock worth $265,116,000 after purchasing an additional 1,374,714 shares in the last quarter. Finally, Lido Advisors LLC grew its stake in Carnival by 3.5% during the 4th quarter. Lido Advisors LLC now owns 41,057 shares of the company's stock worth $1,023,000 after purchasing an additional 1,374 shares in the last quarter. Hedge funds and other institutional investors own 67.19% of the company's stock.

Carnival Stock Performance

Shares of Carnival stock traded up $0.15 on Thursday, hitting $32.49. The stock had a trading volume of 13,445,632 shares, compared to its average volume of 16,843,804. Carnival Corporation has a 52-week low of $15.07 and a 52-week high of $32.77. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58. The stock has a market cap of $37.93 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 0.72 and a beta of 2.70. The company's 50 day moving average price is $29.20 and its 200 day moving average price is $24.06.

Carnival (NYSE:CCL - Get Free Report) last posted its earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. The business had revenue of $6.33 billion during the quarter, compared to the consensus estimate of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%.The business's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 EPS. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. On average, research analysts anticipate that Carnival Corporation will post 1.77 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Loop Capital reissued a "hold" rating and set a $22.00 target price on shares of Carnival in a research note on Monday, June 23rd. Tigress Financial boosted their target price on Carnival from $32.00 to $38.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. HSBC raised Carnival from a "reduce" rating to a "hold" rating and set a $24.00 target price for the company in a research note on Friday, May 16th. Hsbc Global Res raised Carnival from a "moderate sell" rating to a "hold" rating in a research note on Friday, May 16th. Finally, Truist Financial upped their price objective on Carnival from $27.00 to $31.00 and gave the stock a "hold" rating in a research report on Monday, July 21st. Thirteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.71.

Insider Buying and Selling

In other Carnival news, Director Sir Jonathon Band sold 12,500 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total transaction of $371,875.00. Following the completion of the sale, the director directly owned 64,406 shares of the company's stock, valued at $1,916,078.50. This represents a 16.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.60% of the stock is currently owned by corporate insiders.

About Carnival

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.