New York State Teachers Retirement System Sells 32,724 Shares of Carnival Corporation $CCL

Key Points

• The New York State Teachers Retirement System reduced its stake in Carnival Corporation by 3.5%, selling 32,724 shares and now holds 889,365 shares worth approximately $25 million.
• Carnival Corporation reported a quarterly earnings per share (EPS) of $1.43, exceeding estimates, with revenue of $8.15 billion, marking a year-over-year revenue increase of 3.3%.
• Several hedge funds and institutional investors, such as New Century Financial Group LLC and Mirae Asset Global Investments, have increased their stakes in Carnival, highlighting ongoing interest in the company's stock amidst a high institutional ownership rate of 67.19%.

New York State Teachers Retirement System reduced its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 3.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 889,365 shares of the company's stock after selling 32,724 shares during the period. New York State Teachers Retirement System owned about 0.08% of Carnival worth $25,009,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Century Financial Group LLC increased its holdings in Carnival by 375.7% during the 2nd quarter. New Century Financial Group LLC now owns 72,140 shares of the company's stock worth $2,029,000 after purchasing an additional 56,976 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Carnival by 31.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,160 shares of the company's stock worth $2,427,000 after purchasing an additional 28,890 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in Carnival by 6.2% during the 1st quarter. IFM Investors Pty Ltd now owns 183,954 shares of the company's stock worth $3,399,000 after purchasing an additional 10,739 shares in the last quarter. Mount Lucas Management LP increased its holdings in Carnival by 42.5% during the 1st quarter. Mount Lucas Management LP now owns 65,754 shares of the company's stock worth $1,284,000 after purchasing an additional 19,601 shares in the last quarter. Finally, Personal CFO Solutions LLC bought a new stake in Carnival during the 1st quarter worth approximately $196,000. 67.19% of the stock is owned by institutional investors.

Carnival Price Performance

Carnival stock opened at $28.31 on Friday. Carnival Corporation has a 12 month low of $15.07 and a 12 month high of $32.80. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.10. The business's 50 day simple moving average is $30.24 and its 200 day simple moving average is $26.02. The company has a market cap of $33.05 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 0.60 and a beta of 2.68.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings data on Monday, September 29th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.32 by $0.11. Carnival had a return on equity of 27.86% and a net margin of 10.07%.The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. Carnival's revenue for the quarter was up 3.3% on a year-over-year basis. Carnival has set its Q4 2025 guidance at 0.230-0.230 EPS. FY 2025 guidance at 2.140-2.140 EPS. Sell-side analysts forecast that Carnival Corporation will post 1.77 EPS for the current year.

Insider Transactions at Carnival

In other Carnival news, Director Sir Jonathon Band sold 12,500 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total transaction of $371,875.00. Following the sale, the director owned 64,406 shares of the company's stock, valued at $1,916,078.50. The trade was a 16.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.60% of the stock is owned by insiders.

Analysts Set New Price Targets

CCL has been the topic of a number of research analyst reports. Barclays boosted their target price on Carnival from $33.00 to $37.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 17th. Zacks Research upgraded Carnival from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 7th. Melius Research boosted their target price on Carnival from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Truist Financial boosted their target price on Carnival from $27.00 to $31.00 and gave the stock a "hold" rating in a research note on Monday, July 21st. Finally, Mizuho boosted their target price on Carnival from $35.00 to $37.00 and gave the stock an "outperform" rating in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $33.00.

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.

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