Burney Co/ 13F: Exits Carnival (CCL) Stake
Burney Co cut its position in Carnival Corporation Ltd. by selling 256,063 shares, reducing its stake to zero as of October 15, 2026.
Reviewed by automated data checks against the source filing. How we make and check alerts
Burney Co/ sold its entire stake of 256,063 shares in Carnival Corporation Ltd. ($CCL), according to a 13F filing with the SEC dated October 15, 2026.
Since the filing, $CCL is down 2.1% to date (from the $26.46 close on Oct 15, 2026).
CCL
Carnival Corporation Ltd.
Key Points
- Burney Co sold out of 256,063 shares of Carnival Corporation, bringing its total ownership to zero as of October 15, 2026.
- Carnival Corp shares were recently trading around $25.84 on October 16, 2026, which is below its 50-day moving average but above its 52-week low.
- Analysts remain optimistic about Carnival, maintaining a buy rating and a target price of $32.5, despite the recent sell-off by Burney Co.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Carnival Corporation Ltd. alert may contain errors. Disclosures
Burney Co cut its position in Carnival Corporation Ltd. (CCL) by selling out 256,063 shares. This sale means the fund no longer holds any shares in the cruise company as of its latest Form 13F filing on October 15, 2026.
What Changed in Burney Co's Carnival Position
Burney Co completely exited its stake in Carnival Corporation, reducing its holdings from 256,063 shares to zero. This sale reflects a 100% decrease in their investment value.
Other Institutional Activity in Carnival
Several other institutional investors have recently increased their stakes in Carnival. Blackrock Inc. grew its holdings by 6,325,552 shares, bringing its total to 96,304,948 shares valued at about $2.49 billion. Vanguard Capital Management LLC added 9,206,045 shares, resulting in a total of 82,678,077 shares worth approximately $2.14 billion. Vanguard Portfolio Management LLC also increased its stake, acquiring 7,630,323 shares for a total of 62,406,507 shares valued at around $1.62 billion. State Street Corporation raised its stake by 7,977,995 shares, totaling 58,217,260 shares worth about $1.51 billion. Additionally, Causeway Capital Management LLC grew its holdings by 4,095,320 shares, ending with 41,190,606 shares valued at about $1.07 billion.
Carnival Corporation Ltd. Stock Down 2.3%
Carnival Corporation shares were recently trading around $25.84 as of October 16, 2026. This price is about 3.6% above the 50-day moving average of $24.94, but 5.3% below the 200-day moving average of $27.30. The stock is currently 24.1% below its 52-week high of $34.03 but remains 20.5% above its 52-week low of $21.45.
Recent Earnings
In its latest financial reports, Carnival Corporation reported trailing twelve-month revenue of approximately $27.59 billion and earnings per share (EPS) of $2.27. The company is expected to release its next earnings report on December 18, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
5 target cuts vs 1 raises.
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EPS & revenue
EPS beat estimates by 7.3%. Revenue missed estimates by 0.5%.
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Profit surprise
EBITDA met by 1 percent. Operating income beat by 3 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
1 upgrade, 1 target raise, 5 target cuts.
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Earnings quality
Gross margin up 0.9 points. Positive free cash flow.
Earnings Call Summary
Carnival posted strong first quarter results with record revenue, yields, and customer deposits near $8 billion. Net income jumped 55 percent year over year to $275 million. Demand remained robust with close-in bookings up 10 percent year over year and nearly 85 percent of 2026 sailings already booked at high prices. Management credited strong execution and higher onboard spending. However, geopolitical tensions and fuel price spikes created a $500 million headwind to full year guidance, which management offset with operational improvements of $150 million.
Guidance Carnival raised 2026 earnings guidance to $2.21 per share, up from prior December view, despite a $500 million fuel headwind. Management expects modest 2.75 percent yield growth and 3.1 percent cruise cost growth for the full year. They introduced PROPEL targets for 2029: greater than 16 percent return on invested capital, more than 50 percent earnings per share growth from 2025, and over 40 percent of operating cash returned to shareholders, roughly $14 billion.
Clearly negative report. The company missed important expectations and likely triggers downward revisions.
Dividend
Carnival Corporation pays an annual dividend of $0.45 per share, resulting in a yield of about 1.7%. The company's dividend payout ratio is 19.8%.
Insider Buying and Selling at Carnival Corporation Ltd.
Recently, several insiders sold shares of Carnival Corporation. David Bernstein, the Chief Financial Officer, sold 361,790 shares at an average price of $33.22 for a total value of about $12.02 million on February 10, 2026. Director Sir Jonathon Band sold 12,000 shares on April 1, 2026, valued at $314,266. Officer Bettina Alejandra Deynes sold 43,058 shares at $28.10 for a total of around $1.21 million on May 28, 2026.
Analysts Set New Price Targets
On September 30, 2026, Morgan Stanley maintained an Overweight rating on Carnival Corporation with a target price of $32.50, up from $31.00. Freedom Broker also maintained a Buy rating with a target of $36.00, and Argus Research kept a Buy rating with a target of $30.00. Wells Fargo maintained an Overweight rating with a price target of $34.00, while Tigress Financial reiterated a Buy rating with a target of $42.00 on October 13, 2026. The consensus rating for Carnival is a Buy with a mean price target of $33.89 across 26 analyst opinions.
About Carnival Corporation
Carnival Corporation Ltd. is a major cruise company that offers leisure travel services. It operates through four segments, including North America Cruise Operations and Europe Cruise Operations. Its offerings include cruise ship operations and support services, as well as owning hotels and other tourism-related assets. Burney Co's complete exit from its position in Carnival may reflect shifting strategies or market conditions affecting the cruise industry.
Bottom Line
Investors will be watching Carnival Corporation closely, particularly with the upcoming earnings report scheduled for December 18, 2026. Keep in mind that 13F filings show holdings as of the end of the reporting quarter and may not represent the fund's current position. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.
Related Filing Alerts
Source: Burney Co/'s 13F filing on $CCL (Oct 15, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Burney Co/ 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts