Auto Owners Insurance Co Has $60.62 Million Holdings in Carnival Corporation $CCL

Auto Owners Insurance Co increased its stake in shares of Carnival Corporation (NYSE:CCL) by 2,954.0% during the 4th quarter, Holdings Channel reports. The fund owned 19,851,000 shares of the company’s stock after acquiring an additional 19,201,000 shares during the period. Auto Owners Insurance Co’s holdings in Carnival were worth $60,625,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Carnival during the third quarter valued at about $1,291,000. Swedbank AB raised its position in shares of Carnival by 10.0% in the fourth quarter. Swedbank AB now owns 519,939 shares of the company’s stock valued at $15,879,000 after purchasing an additional 47,070 shares during the period. Vanguard Group Inc. lifted its stake in shares of Carnival by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 128,133,282 shares of the company’s stock valued at $3,913,190,000 after buying an additional 368,445 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Carnival by 5.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,774,765 shares of the company’s stock worth $51,867,000 after buying an additional 93,565 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Carnival by 42.8% during the 4th quarter. Nordea Investment Management AB now owns 2,126,893 shares of the company’s stock worth $65,487,000 after purchasing an additional 637,605 shares in the last quarter. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival News Summary

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Analysts remain constructive on Carnival alongside other consumer cyclical names, reinforcing the view that the cruise operator still has room to benefit from resilient leisure spending. Analysts Are Bullish on Top Consumer Cyclical Stocks: Carnival (CCL), AUTO1 Group SE (ATOGF)
• Positive Sentiment: Carnival’s Mediterranean expansion plans for Holland America and broader itinerary growth are being viewed as a sign of stronger booking opportunities and a deeper product offering. Carnival Stock Pops on Mediterranean Expansion Plans
• Positive Sentiment: Lower oil prices are helping cruise stocks, and Carnival is benefiting from easing fuel-cost pressure after geopolitical concerns around the Strait of Hormuz cooled. Carnival Stock Rises As Oil Prices Fall After MoU
• Positive Sentiment: Carnival and Starboard’s limited-edition Bulleit Bourbon launch across 14 ships adds an onboard revenue and branding initiative tied to America’s 250th anniversary. Carnival (CCL) Launches Limited Edition Bulleit Bourbon Across 14 Ships
• Neutral Sentiment: Several previews ahead of Carnival’s June 23 Q2 earnings note that expectations are centered on earnings stability and continued onboard spending strength, but investors are waiting for confirmation from results. Carnival Reports Q2 Earnings Next Week. What Investors Should Expect.
• Neutral Sentiment: Broader market commentary shows investors are favoring strong fundamentals and cyclicals, which is supportive for CCL but not specific to the company. The Unstoppable Stock Market Rally Is Defying Fed Fears

Carnival Price Performance

CCL opened at $30.92 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.30 and a quick ratio of 0.26. Carnival Corporation has a 1 year low of $22.58 and a 1 year high of $34.03. The stock’s 50 day simple moving average is $27.28 and its 200 day simple moving average is $28.30. The firm has a market cap of $38.31 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.36 and a beta of 2.32.

Carnival (NYSE:CCL) last released its quarterly earnings data on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Carnival had a net margin of 11.48% and a return on equity of 26.92%. The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.13 billion. During the same quarter in the previous year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts predict that Carnival Corporation will post 2.22 earnings per share for the current year.

Carnival Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a $0.15 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.60 dividend on an annualized basis and a yield of 1.9%. Carnival’s dividend payout ratio is 26.67%.

Insider Transactions at Carnival

In related news, Director Sir Jonathon Band sold 11,988 shares of Carnival stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total transaction of $313,965.72. Following the completion of the transaction, the director directly owned 52,601 shares of the company’s stock, valued at $1,377,620.19. This trade represents a 18.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bettina Alejandra Deynes sold 43,058 shares of Carnival stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the transaction, the insider owned 69,238 shares of the company’s stock, valued at $1,945,587.80. The trade was a 38.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 55,058 shares of company stock worth $1,524,195 over the last ninety days. Insiders own 7.90% of the company’s stock.

Analyst Ratings Changes

CCL has been the topic of a number of analyst reports. Truist Financial decreased their target price on shares of Carnival from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Friday, May 22nd. UBS Group dropped their price target on Carnival from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Sanford C. Bernstein cut their price objective on Carnival from $33.00 to $28.70 and set a “market perform” rating for the company in a report on Monday, March 30th. Barclays lowered their target price on shares of Carnival from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th. Finally, Weiss Ratings lowered 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 assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.94.

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.