OLD National Bancorp IN Boosts Holdings in Carnival Corporation $CCL

Key Points

• OLD National Bancorp IN increased its stake in Carnival by 11.3% in the first quarter, buying 45,251 additional shares and bringing its total holdings to 446,501 shares worth about $11.6 million.
• Carnival posted a strong second-quarter earnings beat, reporting $0.41 per share versus $0.34 expected, with revenue up 5.3% year over year and management citing solid bookings, record deposits, and cost discipline.
• Despite the upbeat quarter, investors are still watching mixed signals from the company, including a lowered fiscal 2026 outlook and recent insider selling, even as analysts remain generally constructive with a Moderate Buy rating and an average target near $35.13.

OLD National Bancorp IN grew its stake in Carnival Corporation (NYSE:CCL - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 446,501 shares of the company's stock after purchasing an additional 45,251 shares during the quarter. OLD National Bancorp IN's holdings in Carnival were worth $11,555,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BOCHK Asset Management Ltd purchased a new position in Carnival in the 4th quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Carnival during the 3rd quarter worth approximately $25,000. Lloyd Advisory Services LLC. acquired a new position in shares of Carnival during the fourth quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Carnival by 381.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the company's stock valued at $29,000 after acquiring an additional 762 shares during the last quarter. Finally, Optima Capital LLC purchased a new position in shares of Carnival in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 67.19% of the company's stock.

Carnival News Summary

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Carnival’s Q2 results showed record quarterly performance, with earnings of $0.41 per share topping expectations and revenue up year over year, while management pointed to strong bookings, record deposits and disciplined cost control as signs that underlying demand remains solid.
• Positive Sentiment: Analyst commentary remains constructive on the long-term story, with Jefferies reiterating a Buy rating and a $35 target, and other market coverage highlighting upside potential if Carnival can sustain its strong cruise demand. Article: Carnival faces near-term headwinds, but long-term outlook remains intact, says Jefferies
• Neutral Sentiment: The company also expanded its surplus meal donation program to the Dominican Republic, a positive corporate responsibility move, but one that is unlikely to materially affect near-term earnings or the stock price. Article: Carnival Corporation Expands Surplus Meal Donation Program to the Dominican Republic
• Negative Sentiment: Investors are still worried about guidance, as Carnival lowered its fiscal 2026 outlook and flagged softer back-half yields tied to temporary Europe disruption and extreme geopolitical volatility affecting bookings.
• Negative Sentiment: Analysts also noted ongoing headwinds from debt, fuel costs and geopolitical uncertainty, while one UBS note suggested the company may not benefit much from any booking improvement this year.
• Negative Sentiment: Recent headlines about guest altercations and bans at the end of cruises add some noise, but they are more of a reputational concern than a major financial driver.

Insider Buying and Selling at Carnival

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total value of $313,965.72. Following the completion of the sale, the director directly owned 52,601 shares of the company's stock, valued at $1,377,620.19. This trade represents a 18.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bettina Alejandra Deynes sold 43,058 shares of the business's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the transaction, the insider directly owned 69,238 shares in the company, valued at approximately $1,945,587.80. The trade was a 38.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 55,058 shares of company stock valued at $1,524,195. 7.90% of the stock is owned by company insiders.

Carnival Trading Down 1.8%

Shares of Carnival stock opened at $28.40 on Friday. The stock has a market cap of $35.19 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.28 and a beta of 2.32. The stock's 50 day simple moving average is $27.36 and its 200-day simple moving average is $28.41. Carnival Corporation has a 1-year low of $23.45 and a 1-year high of $34.03. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.33 and a quick ratio of 0.26.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings results on Tuesday, June 23rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. Carnival had a return on equity of 26.11% and a net margin of 11.24%.The business had revenue of $6.66 billion during the quarter, compared to analyst estimates of $6.69 billion. During the same period in the prior year, the business earned $0.35 earnings per share. The business's revenue was up 5.3% compared to the same quarter last year. 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 2.22 EPS for the current fiscal year.

Carnival Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, May 18th. Carnival's dividend payout ratio is presently 26.67%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CCL shares. Stifel Nicolaus lifted their price target on Carnival from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Friday, June 12th. Zacks Research raised Carnival from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. William Blair restated an "outperform" rating on shares of Carnival in a report on Tuesday, March 3rd. Wall Street Zen cut shares of Carnival from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Finally, Mizuho upped their target price on shares of Carnival from $38.00 to $39.00 and gave the stock an "outperform" rating in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $35.13.

Carnival Company 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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