Credit Agricole S A Acquires New Stake in Carriage Services, Inc. $CSV

Key Points

• Credit Agricole S A has made a new investment in Carriage Services, Inc. by purchasing 27,169 shares for approximately $1,053,000, representing a 0.17% ownership stake as of their latest filing.
• Carriage Services recently reported $0.74 earnings per share, surpassing analysts' expectations of $0.72, along with a revenue of $102.15 million for the quarter.
• The company will pay a quarterly dividend of $0.1125 on September 2nd, with an annualized yield of 1.0%, reflecting a dividend payout ratio of 13.51%.

Credit Agricole S A purchased a new stake in Carriage Services, Inc. (NYSE:CSV - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,169 shares of the company's stock, valued at approximately $1,053,000. Credit Agricole S A owned about 0.17% of Carriage Services as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CSV. Johnson Financial Group Inc. acquired a new position in shares of Carriage Services in the 4th quarter worth approximately $45,000. New York State Teachers Retirement System acquired a new position in shares of Carriage Services during the first quarter valued at $48,000. US Bancorp DE bought a new stake in shares of Carriage Services during the 1st quarter worth about $93,000. GAMMA Investing LLC lifted its position in Carriage Services by 8,246.2% in the first quarter. GAMMA Investing LLC now owns 3,255 shares of the company's stock worth $126,000 after purchasing an additional 3,216 shares during the period. Finally, Hohimer Wealth Management LLC lifted its holdings in shares of Carriage Services by 4.1% in the first quarter. Hohimer Wealth Management LLC now owns 6,456 shares of the company's stock valued at $250,000 after buying an additional 255 shares during the period. 66.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Carriage Services

In related news, VP Shane Pudenz sold 13,027 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $44.36, for a total value of $577,877.72. Following the sale, the vice president directly owned 14,930 shares in the company, valued at $662,294.80. This trade represents a 46.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on CSV shares. Wall Street Zen cut shares of Carriage Services from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Roth Mkm reiterated a "buy" rating and issued a $51.00 price objective (up previously from $48.00) on shares of Carriage Services in a research note on Friday, May 2nd. Zacks Research upgraded shares of Carriage Services to a "strong-buy" rating in a research note on Monday, August 11th. Barrington Research upped their price target on Carriage Services from $50.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, B. Riley restated a "buy" rating and set a $65.00 price target (up from $52.00) on shares of Carriage Services in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $58.67.

Carriage Services Price Performance

CSV traded down $0.19 during midday trading on Friday, hitting $43.70. The company had a trading volume of 185,234 shares, compared to its average volume of 120,397. The company has a market capitalization of $686.01 million, a PE ratio of 13.12, a P/E/G ratio of 0.89 and a beta of 0.83. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.90 and a current ratio of 1.06. The firm's 50-day simple moving average is $45.89 and its 200-day simple moving average is $42.44. Carriage Services, Inc. has a twelve month low of $30.15 and a twelve month high of $49.41.

Carriage Services (NYSE:CSV - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. The company had revenue of $102.15 million during the quarter, compared to the consensus estimate of $101.36 million. Carriage Services had a return on equity of 21.63% and a net margin of 12.85%. Equities research analysts predict that Carriage Services, Inc. will post 2.5 EPS for the current fiscal year.

Carriage Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 4th will be paid a $0.1125 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $0.45 annualized dividend and a yield of 1.0%. Carriage Services's dividend payout ratio is presently 13.51%.

Carriage Services Company Profile

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates in two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides consultation services; funeral home facilities for visitation and memorial services; transportation services; removal and preparation of remains; sale of caskets and urns; cremation services; and related funeral merchandise.