State of Michigan Retirement System boosted its position in Carnival Corporation (NYSE:CCL - Free Report) by 18.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403,344 shares of the company's stock after buying an additional 62,800 shares during the period. State of Michigan Retirement System's holdings in Carnival were worth $11,524,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI grew its stake in Carnival by 3.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 10,540 shares of the company's stock valued at $322,000 after acquiring an additional 358 shares during the period. StoneX Group Inc. increased its holdings in shares of Carnival by 4.9% during the fourth quarter. StoneX Group Inc. now owns 7,935 shares of the company's stock valued at $242,000 after acquiring an additional 368 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Carnival by 1.9% during the third quarter. Brooklyn Investment Group now owns 21,363 shares of the company's stock worth $618,000 after purchasing an additional 396 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Carnival by 1.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 33,540 shares of the company's stock worth $1,024,000 after purchasing an additional 408 shares during the period. Finally, Orion Porfolio Solutions LLC lifted its holdings in shares of Carnival by 3.9% in the 4th quarter. Orion Porfolio Solutions LLC now owns 11,816 shares of the company's stock worth $361,000 after purchasing an additional 446 shares in the last quarter. 67.19% of the stock is owned by institutional investors and hedge funds.
Carnival Price Performance
CCL opened at $28.14 on Friday. 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 0.29. The company has a market capitalization of $38.54 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 1.25 and a beta of 2.35. The firm's fifty day moving average price is $27.98 and its two-hundred day moving average price is $27.86.
Carnival (NYSE:CCL - Get Free Report) last announced its earnings results on Tuesday, June 23rd. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. Carnival had a net margin of 11.24% and a return on equity of 26.11%. The company had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.69 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. The firm's revenue for the quarter 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. As a group, analysts anticipate that Carnival Corporation will post 2.23 earnings per share for the current fiscal year.
Carnival Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be paid a $0.15 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.60 annualized dividend and a yield of 2.1%. Carnival's dividend payout ratio (DPR) is 27.03%.
Analyst Ratings Changes
Several research firms recently issued reports on CCL. Stifel Nicolaus lifted their price target on shares of Carnival from $35.00 to $36.00 and gave the company a "buy" rating in a research report on Friday, June 12th. Zacks Research raised shares of Carnival from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. Sanford C. Bernstein downgraded Carnival from a "market perform" rating to a "market perform" rating in a research note on Tuesday, June 23rd. Freedom Capital raised Carnival to a "strong-buy" rating in a report on Wednesday, June 3rd. Finally, Weiss Ratings downgraded Carnival from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Carnival currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.08.
Check Out Our Latest Stock Analysis on Carnival
Insider Buying and Selling
In other Carnival news, insider Bettina Alejandra Deynes sold 43,058 shares of Carnival stock in a transaction that occurred on 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 owned 69,238 shares of the company's stock, valued at $1,945,587.80. This trade represents a 38.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.90% of the company's stock.
Carnival Profile
(
Free Report)
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.
Further Reading
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