Wedge Capital Management L L P NC Sells 116,806 Shares of Carnival Corporation $CCL

Key Points

• Wedge Capital Management reduced its Carnival stake by 7.4%, selling 116,806 shares in the second quarter and retaining 1.45 million shares valued at approximately $41.5 million. Institutional investors collectively own 67.19% of Carnival.
• Carnival reported quarterly earnings of $0.41 per share, topping estimates of $0.34, while revenue rose 5.3% year over year to $6.66 billion. The company maintained full-year 2026 EPS guidance of $2.22 and declared a quarterly dividend of $0.15 per share, yielding about 2.2% annually.
• Analyst sentiment remains positive, with Carnival carrying a “Moderate Buy” consensus rating and an average price target of $35.08, compared with a recent share price of $27.68.

Wedge Capital Management L L P NC reduced its stake in Carnival Corporation (NYSE:CCL - Free Report) by 7.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,452,363 shares of the company's stock after selling 116,806 shares during the quarter. Carnival makes up 0.7% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 29th largest holding. Wedge Capital Management L L P NC owned 0.11% of Carnival worth $41,494,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Commerzbank Aktiengesellschaft FI grew its stake in shares of Carnival by 3.5% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 10,540 shares of the company's stock worth $322,000 after acquiring an additional 358 shares in the last quarter. StoneX Group Inc. boosted its holdings in Carnival by 4.9% during the fourth quarter. StoneX Group Inc. now owns 7,935 shares of the company's stock worth $242,000 after purchasing an additional 368 shares during the last quarter. Brooklyn Investment Group grew its position in Carnival by 1.9% in the 3rd quarter. Brooklyn Investment Group now owns 21,363 shares of the company's stock worth $618,000 after purchasing an additional 396 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Carnival by 1.2% in the 4th 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 in the last quarter. Finally, Orion Porfolio Solutions LLC increased its stake in Carnival by 3.9% in the 4th quarter. Orion Porfolio Solutions LLC now owns 11,816 shares of the company's stock valued at $361,000 after buying an additional 446 shares during the last quarter. 67.19% of the stock is currently owned by institutional investors.

Carnival Stock Performance

Carnival stock opened at $27.68 on Wednesday. Carnival Corporation has a fifty-two week low of $23.45 and a fifty-two week high of $34.03. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.29 and a current ratio of 0.33. The stock has a market cap of $37.91 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 1.22 and a beta of 2.35. The firm's fifty day moving average price is $27.94 and its 200-day moving average price is $27.87.

Carnival (NYSE:CCL - Get Free Report) last released its earnings results on Tuesday, June 23rd. The company reported $0.41 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 for the quarter, compared to analysts' expectations of $6.69 billion. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The firm'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 fiscal year.

Carnival Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, August 7th. Carnival's dividend payout ratio (DPR) is presently 27.03%.

Insider Activity at Carnival

In other news, insider Bettina Alejandra Deynes sold 43,058 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.10, for a total value of $1,209,929.80. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Citigroup boosted their target price on Carnival from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. BMO Capital Markets began coverage on Carnival in a research report on Tuesday, July 7th. They issued a "market perform" rating and a $30.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of Carnival from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. Freedom Capital upgraded shares of Carnival to a "strong-buy" rating in a research note on Wednesday, June 3rd. Finally, Argus set a $35.00 price target on shares of Carnival in a research report on Friday, June 26th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.08.

About Carnival

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.

Want to see what other hedge funds are holding CCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carnival Corporation (NYSE:CCL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source