Renaissance Technologies LLC Sells 3,677,123 Shares of Carnival Corporation $CCL

Key Points

• Renaissance Technologies cut its Carnival stake by 58.6%, selling 3.68 million shares and retaining 2.60 million shares worth approximately $67.2 million. Institutional investors collectively own 67.19% of the company.
• Carnival reported quarterly EPS of $0.41, beating estimates of $0.34, while revenue rose 5.3% year over year to $6.66 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $35.08.
• Carnival declared a quarterly dividend of $0.15 per share, equivalent to $0.60 annually and a 2.3% yield; the dividend is scheduled for payment on August 28 to shareholders of record as of August 7.

Renaissance Technologies LLC lowered its position in shares of Carnival Corporation (NYSE:CCL - Free Report) by 58.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,598,300 shares of the company's stock after selling 3,677,123 shares during the period. Renaissance Technologies LLC owned about 0.21% of Carnival worth $67,244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GC Wealth Management RIA LLC raised its holdings in shares of Carnival by 27.3% during the 1st quarter. GC Wealth Management RIA LLC now owns 49,555 shares of the company's stock valued at $1,282,000 after buying an additional 10,641 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Carnival by 9.3% in the first quarter. Public Employees Retirement System of Ohio now owns 536,973 shares of the company's stock worth $13,897,000 after buying an additional 45,828 shares in the last quarter. Compound Planning Inc. grew its position in Carnival by 6.6% during the first quarter. Compound Planning Inc. now owns 26,315 shares of the company's stock valued at $681,000 after acquiring an additional 1,635 shares during the last quarter. Inceptionr LLC purchased a new position in shares of Carnival during the first quarter worth approximately $266,000. Finally, Lido Advisors LLC raised its stake in shares of Carnival by 99.6% during the first quarter. Lido Advisors LLC now owns 117,003 shares of the company's stock worth $3,028,000 after acquiring an additional 58,383 shares in the last quarter. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Carnival Stock Up 0.1%

Shares of NYSE CCL opened at $26.36 on Monday. The firm's fifty day moving average is $27.52 and its 200 day moving average is $28.04. Carnival Corporation has a 52 week low of $23.45 and a 52 week high of $34.03. The company has a quick ratio of 0.29, a current ratio of 0.33 and a debt-to-equity ratio of 1.80. The company has a market cap of $36.10 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.16 and a beta of 2.32.

Carnival (NYSE:CCL - Get Free Report) last announced its quarterly earnings results on Tuesday, June 23rd. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. Carnival had a net margin of 11.24% and a return on equity of 26.11%. The business had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.69 billion. During the same quarter last year, the firm earned $0.35 EPS. The company's revenue was up 5.3% on a year-over-year basis. Carnival has set its FY 2026 guidance at 2.220-2.220 EPS and its Q3 2026 guidance at 1.350-1.350 EPS. On average, equities research analysts expect that Carnival Corporation will post 2.23 earnings per share for the current year.

Carnival Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 7th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. Carnival's dividend payout ratio (DPR) is presently 27.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CCL shares. Freedom Capital raised shares of Carnival to a "strong-buy" rating in a research note on Wednesday, June 3rd. Zacks Research raised shares of Carnival from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. TD Cowen upped their price target on shares of Carnival from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Wells Fargo & Company raised their price objective on Carnival from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, June 25th. Finally, Weiss Ratings downgraded Carnival from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $35.08.

Insider Transactions at Carnival

In other Carnival news, insider Bettina Alejandra Deynes sold 43,058 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the completion of the transaction, the insider owned 69,238 shares of the company's stock, valued at $1,945,587.80. This represents a 38.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.90% of the stock is currently owned by corporate insiders.

Carnival 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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