Coho Partners Ltd. Sells 106,090 Shares of Service Corporation International $SCI

Key Points

• Coho Partners Ltd. reduced its stake in Service Corporation International (SCI) by 15.2%, selling 106,090 shares during the second quarter, leaving them with 591,308 shares valued at approximately $48.1 million.
• Service Corporation International reported a quarterly earnings per share (EPS) of $0.88, exceeding analysts' expectations, and experienced a 3.0% year-over-year revenue increase of $1.07 billion.
• Institutional investors own 85.53% of the company's stock, with recent activity including various firms increasing their holdings, while analysts have raised target prices, suggesting a positive outlook on SCI's performance.

Coho Partners Ltd. lessened its holdings in shares of Service Corporation International (NYSE:SCI - Free Report) by 15.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 591,308 shares of the company's stock after selling 106,090 shares during the quarter. Service Corporation International comprises approximately 3.6% of Coho Partners Ltd.'s portfolio, making the stock its 12th biggest holding. Coho Partners Ltd. owned 0.42% of Service Corporation International worth $48,132,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Deutsche Bank AG boosted its holdings in Service Corporation International by 0.9% in the 1st quarter. Deutsche Bank AG now owns 1,024,608 shares of the company's stock worth $82,174,000 after buying an additional 9,342 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Service Corporation International by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 931,194 shares of the company's stock worth $74,682,000 after acquiring an additional 10,972 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Service Corporation International by 136.1% in the first quarter. Principal Financial Group Inc. now owns 782,429 shares of the company's stock worth $62,751,000 after acquiring an additional 451,068 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Service Corporation International by 0.3% in the first quarter. HighTower Advisors LLC now owns 777,936 shares of the company's stock worth $62,391,000 after acquiring an additional 2,316 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Service Corporation International by 2.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,978 shares of the company's stock worth $51,647,000 after acquiring an additional 15,967 shares during the period. 85.53% of the stock is owned by institutional investors.

Service Corporation International Stock Performance

Shares of SCI opened at $81.35 on Friday. The company has a market cap of $11.41 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 2.00 and a beta of 0.89. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 3.19. The stock has a 50-day moving average price of $80.75 and a 200-day moving average price of $79.14. Service Corporation International has a 12-month low of $71.75 and a 12-month high of $89.37.

Service Corporation International (NYSE:SCI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.04. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Service Corporation International had a return on equity of 32.84% and a net margin of 12.60%.The company's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.79 EPS. Service Corporation International has set its FY 2025 guidance at 3.700-4.00 EPS. As a group, equities analysts forecast that Service Corporation International will post 3.84 earnings per share for the current fiscal year.

Service Corporation International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.32 per share. The ex-dividend date was Monday, September 15th. This represents a $1.28 annualized dividend and a yield of 1.6%. Service Corporation International's payout ratio is presently 34.69%.

Insider Activity at Service Corporation International

In other news, President Sumner J. Waring III sold 56,100 shares of Service Corporation International stock in a transaction on Friday, August 1st. The shares were sold at an average price of $76.57, for a total transaction of $4,295,577.00. Following the completion of the sale, the president directly owned 295,192 shares of the company's stock, valued at approximately $22,602,851.44. The trade was a 15.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ellen Ochoa sold 2,514 shares of Service Corporation International stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $79.41, for a total value of $199,636.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 252,082 shares of company stock valued at $20,117,233. Company insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

SCI has been the subject of several analyst reports. UBS Group raised their target price on Service Corporation International from $88.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday. Oppenheimer raised their target price on Service Corporation International from $86.00 to $91.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Weiss Ratings restated a "hold (c+)" rating on shares of Service Corporation International in a research report on Wednesday, October 8th. Finally, Raymond James Financial restated an "outperform" rating and issued a $90.00 price objective (up from $85.00) on shares of Service Corporation International in a research report on Monday, August 4th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $92.00.

Service Corporation International Company Profile

Service Corp. International engages in the provision of funeral goods and services. It operates through the Funeral and Cemetery segments. The Funeral segment offers services related to cremations, including the use of home facilities and motor vehicles, arranging and directing services, removal, preparation, embalming, memorialization, and catering.

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