13 Best Vacation Stocks to Buy Now

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3) Carnival Corporation & plc (NYSE:CCL)

Number of Hedge Fund Holders: 53

Carnival Corporation & plc (NYSE:CCL) owns and operates cruise ships providing cruises to all major vacation destinations such as North America, United Kingdom, Germany, among others.

Market experts believe that Carnival Corporation & plc (NYSE:CCL) has been focusing on optimizing occupancy. This will help passenger counts and yields rise at a faster pace. Carnival Corporation & plc (NYSE:CCL)’s strategic initiatives, including fleet expansion and new markets, should add to its growth potential. Through continuous innovation and improved offerings, the company is well-positioned to increase its market share and drive future growth.

Carnival Corporation & plc (NYSE:CCL)’s competitive advantage revolves around exceptional cost management and operational efficiency. In 2Q 2024, the company paid $6.6 billion of its debt, which is a testament to its financial stability. The company’s reservations book remains strong as the company amassed ~$8.3 billion in client deposits for the upcoming trips.

Carnival Corporation & plc (NYSE:CCL) raised its FY 2024 net yield guidance (in constant currency) to ~10.25% as a result of continued robust demand. It also raised full-year adjusted net income guidance by ~$275 million. At the time of announcing its 2Q 2024 results, the company highlighted that its cumulative booked position for FY 2025 remains higher than 2024 in both price (in constant currency) and occupancy.

As per Insider Monkey’s 2Q 2024 database, 53 hedge funds reported owning stakes in Carnival Corporation & plc (NYSE:CCL). Argus upped their price target on the shares of the company from $20.00 to $25.00, giving it a “Buy” rating on 27th June.

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