State of Michigan Retirement System Acquires 62,800 Shares of Carnival Corporation $CCL

State of Michigan Retirement System grew its holdings in shares of Carnival Corporation (NYSE:CCL) by 18.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 403,344 shares of the company’s stock after acquiring an additional 62,800 shares during the quarter. State of Michigan Retirement System’s holdings in Carnival were worth $11,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Measured Wealth Private Client Group LLC purchased a new position in shares of Carnival in the 3rd quarter worth about $25,000. Lloyd Advisory Services LLC. purchased a new stake in Carnival during the fourth quarter worth about $26,000. Axiom Investment Management LLC purchased a new stake in Carnival during the second quarter worth about $29,000. Kemnay Advisory Services Inc. bought a new stake in Carnival in the fourth quarter worth about $32,000. Finally, Basecamp Wealth Advisors LLC raised its position in Carnival by 107.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 1,045 shares of the company’s stock worth $27,000 after acquiring an additional 542 shares during the period. 67.19% of the stock is currently owned by institutional investors.

Carnival Price Performance

Shares of NYSE:CCL opened at $28.14 on Friday. The firm has a market capitalization of $38.54 billion, a PE ratio of 12.67, a P/E/G ratio of 1.25 and a beta of 2.35. The company has a quick ratio of 0.29, a current ratio of 0.33 and a debt-to-equity ratio of 1.80. The company has a 50-day moving average price of $27.98 and a two-hundred day moving average price of $27.86. Carnival Corporation has a twelve month low of $23.45 and a twelve month high of $34.03.

Carnival (NYSE:CCL) last posted its quarterly earnings results on Tuesday, June 23rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The company had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.69 billion. Carnival had a net margin of 11.24% and a return on equity of 26.11%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share. 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 analysts forecast that Carnival Corporation will post 2.23 EPS for the current year.

Carnival Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.60 dividend on an annualized basis and a yield of 2.1%. Carnival’s payout ratio is presently 27.03%.

Insider Activity

In other Carnival news, insider Bettina Alejandra Deynes sold 43,058 shares of the stock in a transaction 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 sale, the insider owned 69,238 shares in the company, valued at $1,945,587.80. This represents a 38.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CCL shares. Barclays reduced their target price on shares of Carnival from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, June 24th. Loop Capital began coverage on shares of Carnival in a report on Monday, June 1st. They issued a “buy” rating and a $36.00 price target on the stock. Argus set a $35.00 price objective on Carnival in a research note on Friday, June 26th. Zacks Research raised Carnival from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Finally, Stifel Nicolaus raised their target price on Carnival from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Carnival currently has an average rating of “Moderate Buy” and a consensus target price 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.