Convergence Investment Partners LLC Makes New Investment in Carnival Corporation $CCL

Convergence Investment Partners LLC purchased a new stake in shares of Carnival Corporation (NYSE:CCL) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 61,901 shares of the company’s stock, valued at approximately $1,602,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CCL. Auto Owners Insurance Co lifted its stake in shares of Carnival by 2,954.0% during the 4th quarter. Auto Owners Insurance Co now owns 19,851,000 shares of the company’s stock valued at $60,625,000 after buying an additional 19,201,000 shares in the last quarter. Viking Global Investors LP bought a new position in Carnival in the 4th quarter worth $429,448,000. Pacer Advisors Inc. increased its stake in Carnival by 2,432.8% in the 4th quarter. Pacer Advisors Inc. now owns 6,689,954 shares of the company’s stock worth $204,311,000 after buying an additional 6,425,822 shares in the last quarter. Wellington Management Group LLP increased its stake in Carnival by 99.6% in the 3rd quarter. Wellington Management Group LLP now owns 12,159,619 shares of the company’s stock worth $351,535,000 after buying an additional 6,066,336 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Carnival by 1,619.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,132,270 shares of the company’s stock valued at $156,740,000 after acquiring an additional 4,833,723 shares during the period. 67.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Melius Research set a $36.00 price objective on Carnival in a research report on Wednesday, June 17th. Mizuho increased their target price on Carnival from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, March 27th. Wall Street Zen downgraded Carnival from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. HSBC raised shares of Carnival from a “hold” rating to a “buy” rating and cut their price objective for the company from $33.60 to $30.10 in a report on Monday, March 30th. Finally, Weiss Ratings cut shares of Carnival from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.99.

Carnival Trading Up 0.3%

Shares of Carnival stock opened at $26.13 on Wednesday. The firm has a market cap of $35.79 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.15 and a beta of 2.32. The business has a 50-day moving average price of $27.46 and a 200-day moving average price of $28.15. The company has a quick ratio of 0.29, a current ratio of 0.33 and a debt-to-equity ratio of 1.80. Carnival Corporation has a twelve month low of $23.45 and a twelve month high of $34.03.

Carnival (NYSE:CCL) last posted its earnings results on Tuesday, June 23rd. The company reported $0.41 EPS for the quarter, topping 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 company had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $6.69 billion. During the same period in the previous year, the business earned $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. Equities research analysts anticipate that Carnival Corporation will post 2.23 EPS for the current fiscal year.

Carnival Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 7th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 7th. Carnival’s dividend payout ratio is 27.03%.

Insider Activity

In other news, insider Bettina Alejandra Deynes sold 43,058 shares of the 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 directly owned 69,238 shares in the company, valued at approximately $1,945,587.80. This represents a 38.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.90% of the stock is owned by company insiders.

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.