Illinois Municipal Retirement Fund boosted its position in shares of Carnival Corporation (NYSE:CCL – Free Report) by 3.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 588,832 shares of the company’s stock after buying an additional 16,949 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Carnival were worth $14,450,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in shares of Carnival in the first quarter worth about $1,732,000. National Pension Service increased its holdings in Carnival by 8.7% during the 2nd quarter. National Pension Service now owns 3,228,771 shares of the company’s stock valued at $92,246,000 after purchasing an additional 258,460 shares during the period. Public Employees Retirement System of Ohio bought a new position in Carnival during the 2nd quarter valued at approximately $15,383,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Carnival during the 2nd quarter valued at approximately $10,888,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Carnival by 75.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 191,592 shares of the company’s stock worth $5,474,000 after buying an additional 82,328 shares during the period. Hedge funds and other institutional investors own 67.19% of the company’s stock.
Carnival Price Performance
CCL stock opened at $30.71 on Thursday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.27 and a quick ratio of 0.23. Carnival Corporation has a 1 year low of $21.45 and a 1 year high of $34.03. The firm has a 50-day moving average of $25.69 and a 200 day moving average of $27.17. The company has a market cap of $41.30 billion, a P/E ratio of 13.41, a PEG ratio of 1.31 and a beta of 2.48.
Carnival (NYSE:CCL – Get Free Report) last posted its quarterly earnings data on Tuesday, September 29th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.08. Carnival had a return on equity of 24.83% and a net margin of 11.37%. The business had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.39 billion. During the same period in the previous year, the firm posted $1.43 EPS. The business’s revenue was up 3.5% on a year-over-year basis. Carnival has set its Q4 2026 guidance at 0.200-0.200 EPS and its FY 2026 guidance at 2.240-2.240 EPS. On average, sell-side analysts forecast that Carnival Corporation will post 2.26 EPS for the current year.
Carnival Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 6th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, November 6th. This represents a $0.60 annualized dividend and a dividend yield of 2.0%. Carnival’s payout ratio is currently 26.20%.
Analyst Upgrades and Downgrades
CCL has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price objective on Carnival from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Tigress Financial restated a “buy” rating and set a $42.00 target price on shares of Carnival in a report on Tuesday, October 13th. Citigroup dropped their price target on Carnival from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, September 30th. Truist Financial raised their price target on Carnival from $29.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings cut shares of Carnival from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Carnival presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.16.
Check Out Our Latest Stock Report on Carnival
Insider Buying and Selling at Carnival
In related news, Director Helen Deeble sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $27.75, for a total value of $693,750.00. Following the sale, the director directly owned 63,505 shares of the company’s stock, valued at $1,762,263.75. This represents a 28.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.90% of the stock is owned by corporate insiders.
Carnival Company Profile
Carnival Corporation & plc is a global cruise company that operates cruise lines and provides ship-based vacations. Its brands include Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, Cunard, AIDA Cruises, Costa Cruises, and P&O Cruises. The company’s offerings include cruise itineraries, onboard accommodations, dining and entertainment, as well as shore excursions and other guest experiences. Its ships serve destinations across regions including the Caribbean, Europe, Alaska, Australia and Asia.
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