Intech Investment Management 13F: Adds $7.2M to CCL Stake
Intech Investment Management significantly raised its holdings in Carnival Corporation, reflecting confidence in the cruise operator.
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Intech Investment Management added 234,735 shares to its stake in Carnival Corporation Ltd. ($CCL), a 144.66% increase, according to a 13F filing with the SEC dated May 8, 2026. It reported 397,005 shares worth $12.26 million at the end of the quarter.
Since the filing, $CCL is down 6.6% after 1 week, up 3.0% after 1 month and down 0.7% to date (from the $26.08 close on May 8, 2026).
Find the original: Intech Investment Management 13F filings on SEC EDGAR
CCL
Carnival Corporation Ltd.
Key Points
- Intech Investment Management boosted its position in Carnival Corporation by 144.7%, adding 234,735 shares to reach a total of 397,005 shares valued at $12.3 million.
- Carnival Corporation, trading at $30.99, has a market cap of $42.8 billion with a P/E ratio of 13.61 and a 52-week range of $22.58 to $34.03.
- Analysts from Citigroup and Stifel maintain a 'buy' rating, with price targets of $37 and $36 respectively, while the consensus target is $34.63.
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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
Intech Investment Management has significantly increased its stake in Carnival Corporation Ltd. (NYSE: CCL), according to its latest Form 13F filing with the SEC. As of the reporting period, Intech added 234,735 shares, boosting its holdings by about 144.7% to a total of 397,005 shares. The value of this stake is approximately $12.3 million, based on the recent share price.
What Changed in Intech Investment Management's Carnival Corporation Position
Intech Investment Management's decision to increase its position in Carnival Corporation marks a substantial shift. The fund previously held 162,270 shares and has now added 234,735 shares, bringing its total to 397,005 shares. This move, reflecting a 144.7% increase, suggests a notable vote of confidence in Carnival's prospects.
Other Institutional Activity in Carnival Corporation
Several other institutional investors have also been active in Carnival Corporation. BlackRock, Inc. increased its holdings by 6,275,763 shares, ending with 89,979,406 shares worth about $2.33 billion. State Street Corp added 2,164,352 shares, reaching a total of 50,238,525 shares valued at $1.3 billion. Causeway Capital Management LLC grew its position by 3,151,811 shares to 37,096,593 shares, valued at approximately $960.1 million. Meanwhile, Geode Capital Management, LLC added 3,118,602 shares, bringing its holdings to 32,569,014 shares worth $847.8 million.
Carnival Corporation Ltd. Stock Up 16.7%
Shares of Carnival Corporation (NYSE: CCL) recently traded around $30.99. The company has a market capitalization of about $42.8 billion and a P/E ratio of 13.61. Its forward P/E stands at 11.84, reflecting expectations for future earnings growth. With a beta of 2.331, the stock is considered more volatile than the overall market. The 52-week range for the stock is $22.58 to $34.03, and it has a 50-day moving average of $27.03 and a 200-day moving average of $28.38.
Recent Earnings
Carnival Corporation reported revenue of $26.98 billion with a growth rate of 6.1%. The company achieved a net margin of 11.48% and a return on equity of 27.85%. Its earnings per share (EPS) stood at $2.27. The next earnings report is scheduled for June 23, 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 offers an annual dividend rate of $0.30, yielding 0.97%. The dividend payout ratio is relatively low at 6.61%, indicating a conservative approach to returning capital to shareholders.
Insider Buying and Selling at Carnival Corporation Ltd.
Recent insider activity at Carnival Corporation includes several sales. On May 28, 2026, Bettina Alejandra Deynes, Chief Human Resources Officer, sold 43,058 shares at an average price of $28.10. Earlier, on May 11, 2026, insiders including Katie Lahey, Nelda Connors, Laura Weil, Jason Glen Cahilly, and Jeffrey Gearhart each sold 616 shares at $26.38.
Analysts Set New Price Targets
Analysts maintain a positive outlook on Carnival Corporation. On June 16, 2026, Citigroup maintained its 'buy' rating with a price target of $37. Stifel also upheld its 'buy' rating with a $36 target on June 12, 2026. The consensus among 24 analysts is a 'buy' recommendation, with a mean price target of $34.63.
About Carnival Corporation
Carnival Corporation Ltd. is a leading cruise company offering leisure travel services across North America, Europe, Australia, and other international markets. Headquartered in Miami, Florida, and led by CEO Joshua Ian Weinstein, the company operates numerous cruise lines including Carnival Cruise Line, Princess Cruises, and Holland America Line, among others. With a workforce of 160,000, Carnival provides a range of travel experiences, from cruises to hotel stays.
Bottom Line
Intech Investment Management's substantial increase in its Carnival Corporation holdings underscores a strong belief in the cruise giant's potential. As one of the world's largest leisure travel companies, Carnival's performance is closely watched by investors. This 13F filing reflects past positions and may not represent current holdings, but it offers insight into institutional sentiment.
Related Filing Alerts
Source: Intech Investment Management's 13F filing on $CCL (May 8, 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: Intech Investment Management 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts