Carnival Corporation $CCL Shares Sold by Maverick Capital Ltd.

Key Points

• Maverick Capital Ltd. reduced its stake in Carnival Corporation by 15.4%, now holding approximately 4.65 million shares, which represents about 1.6% of its portfolio.
• Several hedge funds have increased their positions in Carnival, with notable acquisitions like Causeway Capital Management purchasing a stake valued at approximately $518.8 million.
• Carnival reported earnings of $0.35 EPS for the last quarter, exceeding analysts' estimates, and revealed guidance for FY 2025 at 1.970 EPS.

Maverick Capital Ltd. lessened its position in Carnival Corporation (NYSE:CCL - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,652,807 shares of the company's stock after selling 846,975 shares during the quarter. Carnival comprises 1.6% of Maverick Capital Ltd.'s holdings, making the stock its 21st largest position. Maverick Capital Ltd. owned 0.40% of Carnival worth $90,869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Beck Bode LLC purchased a new position in shares of Carnival in the fourth quarter valued at approximately $5,715,000. The Manufacturers Life Insurance Company lifted its position in Carnival by 2.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 627,132 shares of the company's stock worth $15,628,000 after buying an additional 16,529 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Carnival by 31.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,160 shares of the company's stock worth $2,427,000 after buying an additional 28,890 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Carnival by 6.2% in the first quarter. IFM Investors Pty Ltd now owns 183,954 shares of the company's stock valued at $3,399,000 after purchasing an additional 10,739 shares during the period. Finally, Mount Lucas Management LP grew its holdings in shares of Carnival by 42.5% in the first quarter. Mount Lucas Management LP now owns 65,754 shares of the company's stock valued at $1,284,000 after purchasing an additional 19,601 shares during the period. Hedge funds and other institutional investors own 67.19% of the company's stock.

Carnival Stock Performance

Carnival stock traded up $0.45 during mid-day trading on Thursday, reaching $31.78. 10,753,212 shares of the company were exchanged, compared to its average volume of 23,234,404. Carnival Corporation has a twelve month low of $15.07 and a twelve month high of $32.77. The firm's 50-day simple moving average is $29.75 and its two-hundred day simple moving average is $24.22. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34. The firm has a market cap of $37.09 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.71 and a beta of 2.70.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CCL shares. Morgan Stanley upped their price objective on shares of Carnival from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. TD Cowen initiated coverage on shares of Carnival in a report on Tuesday, July 22nd. They issued a "buy" rating and a $36.00 price objective for the company. Zacks Research downgraded Carnival from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Hsbc Global Res raised Carnival from a "moderate sell" rating to a "hold" rating in a research note on Friday, May 16th. Finally, Loop Capital reaffirmed a "hold" rating and issued a $22.00 price objective on shares of Carnival in a research note on Monday, June 23rd. Thirteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $30.71.

Insider Activity at Carnival

In other news, Director Sir Jonathon Band sold 12,500 shares of the firm'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 value 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 trade represents a 16.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.60% of the stock is owned by corporate insiders.

Carnival Company 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.