Empowered Funds LLC Sells 645,626 Shares of Carnival Corporation $CCL

Key Points

• Empowered Funds LLC cut its Carnival stake by 54.5% in the first quarter, selling 645,626 shares and retaining 539,894 shares valued at approximately $14.0 million. Institutional investors collectively own 67.19% of Carnival.
• Carnival reported quarterly EPS of $0.41, beating estimates of $0.34, while revenue rose 5.3% year over year to $6.66 billion. The company declared a quarterly dividend of $0.15 per share, representing a 2.2% annualized yield.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $35.08 versus the stock’s reported price of $27.78.

Empowered Funds LLC lessened its stake in Carnival Corporation (NYSE:CCL - Free Report) by 54.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 539,894 shares of the company's stock after selling 645,626 shares during the quarter. Empowered Funds LLC's holdings in Carnival were worth $13,972,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Auto Owners Insurance Co boosted its stake in Carnival by 2,954.0% in the 4th quarter. Auto Owners Insurance Co now owns 19,851,000 shares of the company's stock worth $60,625,000 after purchasing an additional 19,201,000 shares during the period. Viking Global Investors LP acquired a new stake in shares of Carnival in the 4th quarter valued at about $429,448,000. Pacer Advisors Inc. lifted its holdings in shares of Carnival by 2,432.8% in the fourth quarter. Pacer Advisors Inc. now owns 6,689,954 shares of the company's stock valued at $204,311,000 after purchasing an additional 6,425,822 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Carnival by 99.6% in the third quarter. Wellington Management Group LLP now owns 12,159,619 shares of the company's stock valued at $351,535,000 after purchasing an additional 6,066,336 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Carnival by 1,619.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,132,270 shares of the company's stock worth $156,740,000 after buying an additional 4,833,723 shares during the period. Institutional investors own 67.19% of the company's stock.

Insider Transactions at Carnival

In other Carnival news, insider Bettina Alejandra Deynes sold 43,058 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.10, for a total value of $1,209,929.80. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 7.90% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CCL. Sanford C. Bernstein lowered Carnival from a "market perform" rating to a "market perform" rating in a research report on Tuesday, June 23rd. Truist Financial upped their price target on Carnival from $29.00 to $31.00 and gave the stock a "hold" rating in a research report on Thursday, July 23rd. Loop Capital began coverage on shares of Carnival in a research note on Monday, June 1st. They set a "buy" rating and a $36.00 price target for the company. Tigress Financial lifted their price objective on shares of Carnival from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, June 30th. Finally, Susquehanna boosted their price objective on shares of Carnival from $30.00 to $33.00 and gave the stock a "positive" rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.08.

Carnival Stock Performance

Shares of NYSE CCL opened at $27.78 on Thursday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.29 and a current ratio of 0.33. The stock has a 50 day moving average price of $27.68 and a 200 day moving average price of $27.95. The stock has a market capitalization of $38.05 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.24 and a beta of 2.32. Carnival Corporation has a 52 week low of $23.45 and a 52 week high of $34.03.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings results on Tuesday, June 23rd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Carnival had a return on equity of 26.11% and a net margin of 11.24%.The firm had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.69 billion. During the same quarter in the previous year, the firm earned $0.35 EPS. The business's quarterly revenue was up 5.3% on a year-over-year basis. Carnival has set its FY 2026 guidance at 2.220-2.220 EPS and its Q3 2026 guidance at 1.350-1.350 EPS. Analysts predict that Carnival Corporation will post 2.23 earnings per share for the current fiscal year.

Carnival Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, August 7th. Carnival's dividend payout ratio is 27.03%.

Carnival Profile

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.

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