Carnival Corporation $CCL Shares Purchased by State of Michigan Retirement System

State of Michigan Retirement System raised its position in shares of Carnival Corporation (NYSE:CCL) by 9.9% in the second quarter, HoldingsChannel reports. The firm owned 312,244 shares of the company’s stock after acquiring an additional 28,000 shares during the period. State of Michigan Retirement System’s holdings in Carnival were worth $8,780,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group acquired a new position in Carnival during the 2nd quarter valued at about $28,000. N.E.W. Advisory Services LLC bought a new position in Carnival in the 1st quarter valued at about $25,000. Graybill Wealth Management LTD. bought a new position in Carnival in the 1st quarter valued at about $26,000. Whipplewood Advisors LLC grew its position in Carnival by 301.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 1,560 shares of the company’s stock valued at $44,000 after buying an additional 1,171 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in Carnival in the 1st quarter valued at about $35,000. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival Price Performance

Shares of NYSE CCL opened at $28.69 on Tuesday. Carnival Corporation has a twelve month low of $15.07 and a twelve month high of $32.80. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.10. The company has a market capitalization of $33.50 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 0.57 and a beta of 2.68. The firm has a 50-day moving average of $30.03 and a two-hundred day moving average of $27.06.

Carnival (NYSE:CCL) last issued its quarterly earnings results on Monday, September 29th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. Carnival had a net margin of 10.07% and a return on equity of 27.86%. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the prior year, the company earned $1.27 EPS. Carnival’s revenue was up 3.3% on a year-over-year basis. Carnival has set its Q4 2025 guidance at 0.230-0.230 EPS. FY 2025 guidance at 2.140-2.140 EPS. As a group, analysts expect that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of Carnival from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Citigroup increased their target price on shares of Carnival from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Wall Street Zen lowered shares of Carnival from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. JPMorgan Chase & Co. increased their target price on shares of Carnival from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Finally, Truist Financial increased their target price on shares of Carnival from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Carnival Company Profile

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America and Australia (NAA) Cruise, Europe and Asia (EA) Cruise Operations, Cruise Support, and Tour and Others. The North America and Australia (NAA) Cruise segment includes the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.