GRIMES & Co WEALTH MANAGEMENT LLC Acquires 448,023 Shares of Carnival Corporation $CCL

Key Points

• GRIMES & Co Wealth Management acquired 448,023 Carnival shares worth approximately $10.99 million in the third quarter. Institutional investors collectively own 67.19% of Carnival’s stock.
• Carnival reported quarterly revenue of $8.44 billion and EPS of $1.43, exceeding analyst expectations, while revenue increased 3.5% year over year. The company also declared a quarterly dividend of $0.15 per share, representing a 2.0% yield.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $34.16, although a Carnival director recently sold 25,000 shares.

GRIMES & Co WEALTH MANAGEMENT LLC purchased a new stake in Carnival Corporation (NYSE:CCL - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 448,023 shares of the company's stock, valued at approximately $10,994,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Landaas & Co. WI ADV increased its holdings in shares of Carnival by 84.9% in the third quarter. Landaas & Co. WI ADV now owns 18,100 shares of the company's stock worth $444,000 after acquiring an additional 8,309 shares in the last quarter. Greenleaf Trust grew its holdings in shares of Carnival by 6.9% in the 3rd quarter. Greenleaf Trust now owns 18,872 shares of the company's stock valued at $463,000 after acquiring an additional 1,212 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Carnival during the 3rd quarter worth approximately $7,923,000. ProShare Advisors LLC increased its holdings in Carnival by 5.8% during the third quarter. ProShare Advisors LLC now owns 266,442 shares of the company's stock worth $6,538,000 after buying an additional 14,695 shares during the last quarter. Finally, Lebenthal Global Advisors LLC increased its stake in shares of Carnival by 71.0% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 52,239 shares of the company's stock worth $1,282,000 after purchasing an additional 21,696 shares during the last quarter. Institutional investors own 67.19% of the company's stock.

Carnival Trading Up 4.1%

CCL opened at $30.01 on Tuesday. The stock has a market capitalization of $40.36 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 1.20 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. Carnival Corporation has a twelve month low of $21.45 and a twelve month high of $34.03. The company has a 50-day simple moving average of $24.94 and a 200 day simple moving average of $27.12.

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

Carnival Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 6th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, November 6th. This represents a $0.60 annualized dividend and a yield of 2.0%. Carnival's dividend payout ratio is presently 26.20%.

Insiders Place Their Bets

In other Carnival news, Director Helen Deeble sold 25,000 shares of the firm's stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $27.75, for a total value of $693,750.00. Following the sale, the director owned 63,505 shares of the company's stock, valued at approximately $1,762,263.75. This trade represents a 28.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on CCL. JPMorgan Chase & Co. raised their price target on Carnival from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Wednesday, September 30th. TD Cowen lowered their price objective on Carnival from $34.00 to $32.00 and set a "buy" rating on the stock in a research report on Tuesday, September 22nd. Deutsche Bank Aktiengesellschaft set a $32.00 target price on Carnival in a report on Tuesday, September 22nd. UBS Group restated a "buy" rating and issued a $36.00 price target on shares of Carnival in a research note on Wednesday, September 30th. Finally, BMO Capital Markets initiated coverage on shares of Carnival in a research report on Tuesday, July 7th. They set a "market perform" rating and a $30.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $34.16.

Carnival Profile

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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