North Dakota State Investment Board Makes New Investment in Carnival Corporation $CCL

Key Points

• North Dakota’s State Investment Board initiated a Carnival stake of 39,067 shares worth approximately $959,000 in the third quarter, while institutional investors collectively own 67.19% of CCL.
• Carnival reported quarterly revenue of $8.44 billion and EPS of $1.43, exceeding analyst expectations; the company also declared a $0.15 quarterly dividend, equal to a 2.1% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $34.14, although Director Helen Deeble’s sale of 25,000 shares introduces a cautionary insider-trading signal.

North Dakota State Investment Board bought a new stake in Carnival Corporation (NYSE:CCL - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 39,067 shares of the company's stock, valued at approximately $959,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CCL. VestGen Advisors LLC boosted its stake in shares of Carnival by 16.1% during the 3rd quarter. VestGen Advisors LLC now owns 10,578 shares of the company's stock worth $260,000 after purchasing an additional 1,466 shares during the period. Generali Asset Management SPA SGR grew its holdings in Carnival by 1,832.0% during the 3rd quarter. Generali Asset Management SPA SGR now owns 27,028 shares of the company's stock valued at $663,000 after purchasing an additional 25,629 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Carnival by 3.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 553,055 shares of the company's stock worth $13,572,000 after purchasing an additional 16,507 shares during the period. SYM FINANCIAL Corp raised its position in Carnival by 103.2% in the 3rd quarter. SYM FINANCIAL Corp now owns 15,851 shares of the company's stock worth $389,000 after purchasing an additional 8,050 shares during the period. Finally, Park Avenue Securities LLC raised its position in Carnival by 2.1% in the 3rd quarter. Park Avenue Securities LLC now owns 80,626 shares of the company's stock worth $1,979,000 after purchasing an additional 1,664 shares during the period. Hedge funds and other institutional investors own 67.19% of the company's stock.

Carnival Trading Down 0.0%

NYSE CCL opened at $28.83 on Friday. The company's 50-day moving average price is $24.85 and its 200-day moving average price is $27.12. The company has a current ratio of 0.27, a quick ratio of 0.23 and a debt-to-equity ratio of 1.54. The stock has a market cap of $38.77 billion, a PE ratio of 12.59, a PEG ratio of 1.23 and a beta of 2.38. Carnival Corporation has a 12 month low of $21.45 and a 12 month high of $34.03.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings results on Tuesday, September 29th. The company reported $1.43 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter last year, the firm posted $1.43 EPS. The firm's revenue 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. Equities research analysts forecast that Carnival Corporation will post 2.26 earnings per share for the current year.

Carnival Dividend Announcement

The business 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 $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, November 6th. Carnival's dividend payout ratio is currently 26.20%.

Analysts Set New Price Targets

CCL has been the subject of several analyst reports. Truist Financial raised their price objective on shares of Carnival from $29.00 to $31.00 and gave the stock a "hold" rating in a research note on Thursday, July 23rd. BMO Capital Markets assumed coverage on Carnival in a research note on Tuesday, July 7th. They set a "market perform" rating and a $30.00 target price on the stock. Susquehanna reduced their price target on Carnival from $33.00 to $28.00 and set a "positive" rating on the stock in a report on Wednesday, September 30th. Freedom Broker increased their price target on Carnival from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, October 1st. Finally, Mizuho decreased their price target on Carnival from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $34.14.

Key Headlines Impacting Carnival

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Dividend reinforces shareholder-return story: Carnival’s board declared a quarterly dividend of $0.15 per share. The announcement has renewed investor interest, particularly because shares have rallied 26.7% over the past month while still showing a year-to-date decline, suggesting potential recovery room. Carnival Could Be 25% Undervalued Following Its Fresh Dividend Declaration
• Positive Sentiment: Positive read-through from cruise peers: Norwegian Cruise Line’s stronger-than-expected results and improved full-year outlook lifted the broader cruise group, while Royal Caribbean also advanced. The results suggest resilient travel demand and improving operating trends across the industry, benefiting Carnival by association. Norwegian Surges as Earnings Beat Lifts Full-Year Outlook
• Positive Sentiment: Fleet investment supports guest experience: Princess Cruises, Carnival’s brand, completed a two-week drydock renovation of Royal Princess, adding a Sanctuary Collection and upgrading dining, entertainment, casino and retail areas. These enhancements could support pricing, customer satisfaction and onboard revenue over time. Royal Princess Emerges from Drydock with New Sanctuary Collection
• Neutral Sentiment: Fuel management remains a key swing factor: Carnival’s strategy emphasizes reducing fuel consumption, while competitors rely more heavily on hedging. Lower consumption could protect margins if fuel prices remain elevated, but the issue remains an important source of operating-cost uncertainty. Cruise Companies Aim to Keep Fuel Costs Down
• Negative Sentiment: Director’s stock sale adds a cautionary signal: Director Helen Deeble sold 25,000 Carnival shares for approximately $693,750, reducing her direct ownership by 28.25%. While the transaction does not change Carnival’s fundamentals, insider selling can weigh on sentiment, particularly after the recent share-price rebound. Carnival Director Form 4 Filing

Insider Buying and Selling

In other news, Director Helen Deeble sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $27.75, for a total transaction of $693,750.00. Following the transaction, the director directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.90% of the stock is owned by corporate insiders.

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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