Heartland Advisors Inc. Has $10.60 Million Position in Carriage Services, Inc. (NYSE:CSV)

Key Points

• Heartland Advisors Inc. reduced its stake in Carriage Services, Inc. (CSV) by 18%, holding 273,491 shares valued at approximately $10.60 million as of its latest SEC filing.
• Carriage Services reported earnings of $0.96 per share, exceeding analysts' expectations, with a revenue of $8.47 million for the quarter.
• The company declared a quarterly dividend of $0.1125 per share, reflecting an annualized dividend yield of 1.00%, to be paid on September 2nd.

Heartland Advisors Inc. lessened its stake in shares of Carriage Services, Inc. (NYSE:CSV - Free Report) by 18.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 273,491 shares of the company's stock after selling 60,109 shares during the quarter. Heartland Advisors Inc. owned about 1.75% of Carriage Services worth $10,598,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CSV. Johnson Financial Group Inc. bought a new position in Carriage Services during the fourth quarter worth about $45,000. New York State Teachers Retirement System bought a new position in Carriage Services in the 1st quarter valued at about $48,000. GAMMA Investing LLC increased its holdings in Carriage Services by 8,246.2% in the 1st quarter. GAMMA Investing LLC now owns 3,255 shares of the company's stock valued at $126,000 after buying an additional 3,216 shares during the period. Quantbot Technologies LP increased its holdings in Carriage Services by 217.3% in the 4th quarter. Quantbot Technologies LP now owns 4,982 shares of the company's stock valued at $199,000 after buying an additional 3,412 shares during the period. Finally, Polymer Capital Management US LLC bought a new position in Carriage Services in the 4th quarter valued at about $202,000. Institutional investors and hedge funds own 66.46% of the company's stock.

Carriage Services Price Performance

CSV stock opened at $45.15 on Friday. The firm has a market cap of $708.39 million, a P/E ratio of 15.10, a P/E/G ratio of 0.96 and a beta of 0.89. The company has a quick ratio of 0.80, a current ratio of 0.95 and a debt-to-equity ratio of 2.35. The company's 50-day moving average price is $44.96 and its two-hundred day moving average price is $41.49. Carriage Services, Inc. has a 12 month low of $28.78 and a 12 month high of $47.48.

Carriage Services (NYSE:CSV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.16. The company had revenue of $8.47 million for the quarter, compared to analyst estimates of $104.17 million. Carriage Services had a net margin of 11.50% and a return on equity of 21.96%. On average, analysts anticipate that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 4th will be issued a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Monday, August 4th. Carriage Services's dividend payout ratio (DPR) is presently 15.05%.

Insider Activity

In related news, President Steven D. Metzger sold 3,000 shares of Carriage Services stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $40.60, for a total transaction of $121,800.00. Following the sale, the president directly owned 75,897 shares of the company's stock, valued at approximately $3,081,418.20. The trade was a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 5,840 shares of company stock worth $237,784. Insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on CSV. Barrington Research reissued an "outperform" rating and issued a $50.00 target price on shares of Carriage Services in a report on Thursday, May 1st. Roth Mkm reissued a "buy" rating and issued a $51.00 target price (up from $48.00) on shares of Carriage Services in a report on Friday, May 2nd. Finally, Wall Street Zen lowered shares of Carriage Services from a "buy" rating to a "hold" rating in a report on Friday, June 27th.

About Carriage Services

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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