Credit Agricole S A Makes New Investment 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 bought a new position in Carriage Services, Inc. (NYSE:CSV - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 27,169 shares of the company's stock, valued at approximately $1,053,000. Credit Agricole S A owned 0.17% of Carriage Services as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN raised its holdings in shares of Carriage Services by 61.2% during the fourth quarter. Wells Fargo & Company MN now owns 8,084 shares of the company's stock worth $322,000 after acquiring an additional 3,069 shares during the period. Invesco Ltd. raised its holdings in shares of Carriage Services by 4.8% during the fourth quarter. Invesco Ltd. now owns 31,839 shares of the company's stock worth $1,269,000 after acquiring an additional 1,469 shares during the period. Barclays PLC raised its holdings in shares of Carriage Services by 4.6% during the fourth quarter. Barclays PLC now owns 21,370 shares of the company's stock worth $852,000 after acquiring an additional 937 shares during the period. Marshall Wace LLP raised its holdings in shares of Carriage Services by 27.3% during the fourth quarter. Marshall Wace LLP now owns 44,151 shares of the company's stock worth $1,759,000 after acquiring an additional 9,461 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Carriage Services by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 734,828 shares of the company's stock worth $29,283,000 after acquiring an additional 9,080 shares during the period. 66.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Carriage Services Stock Up 0.9%

Carriage Services stock opened at $45.58 on Monday. The company has a market cap of $715.61 million, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 0.93 and a beta of 0.83. Carriage Services, Inc. has a 1-year low of $30.15 and a 1-year high of $49.41. The company has a fifty day simple moving average of $45.86 and a 200 day simple moving average of $42.33. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.72.

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, beating analysts' consensus estimates of $0.72 by $0.02. The business had revenue of $102.15 million during the quarter, compared to the consensus estimate of $101.36 million. Carriage Services had a net margin of 12.85% and a return on equity of 21.63%. Research analysts anticipate that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 4th will be given a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, August 4th. Carriage Services's dividend payout ratio (DPR) is 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.

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