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Service Corporation International (NYSE:SCI) Shares Sold by Baillie Gifford & Co.

Service Corporation International logo with Consumer Staples background

Key Points

  • Baillie Gifford & Co. reduced its stake in Service Corporation International by 7.1% in the first quarter, owning approximately 10.2 million shares valued at $820.9 million post-sale.
  • Service Corporation International's stock has an average target price of $89.25 and a consensus rating of "Moderate Buy," with several analysts recently providing updated ratings.
  • The company also declared a quarterly dividend of $0.32, resulting in an annual yield of 1.68%, with a dividend payout ratio of 35.16%.
  • MarketBeat previews the top five stocks to own by September 1st.

Baillie Gifford & Co. lessened its holdings in Service Corporation International (NYSE:SCI - Free Report) by 7.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,235,684 shares of the company's stock after selling 785,557 shares during the quarter. Baillie Gifford & Co. owned approximately 7.10% of Service Corporation International worth $820,902,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Assetmark Inc. grew its position in shares of Service Corporation International by 225.9% during the 1st quarter. Assetmark Inc. now owns 352 shares of the company's stock worth $28,000 after buying an additional 244 shares in the last quarter. Quarry LP grew its position in shares of Service Corporation International by 359.8% during the 4th quarter. Quarry LP now owns 469 shares of the company's stock worth $37,000 after buying an additional 367 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of Service Corporation International during the 4th quarter worth $40,000. Mizuho Bank Ltd. purchased a new stake in shares of Service Corporation International during the 4th quarter worth $40,000. Finally, GeoWealth Management LLC purchased a new stake in shares of Service Corporation International during the 4th quarter worth $53,000. Institutional investors own 85.53% of the company's stock.

Insider Activity

In other news, Director Tony Coelho sold 5,400 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $75.94, for a total value of $410,076.00. Following the completion of the transaction, the director directly owned 43,938 shares in the company, valued at $3,336,651.72. This trade represents a 10.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SCI has been the subject of a number of analyst reports. Wall Street Zen upgraded Service Corporation International from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. UBS Group decreased their price objective on Service Corporation International from $90.00 to $88.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $89.25.

View Our Latest Research Report on Service Corporation International

Service Corporation International Stock Down 0.1%

Service Corporation International stock traded down $0.06 during midday trading on Tuesday, reaching $76.08. The company's stock had a trading volume of 329,827 shares, compared to its average volume of 1,168,693. The stock's 50-day simple moving average is $79.07 and its 200-day simple moving average is $78.50. The company has a debt-to-equity ratio of 2.87, a current ratio of 0.51 and a quick ratio of 0.46. Service Corporation International has a 52-week low of $70.46 and a 52-week high of $89.37. The stock has a market capitalization of $10.83 billion, a P/E ratio of 20.90, a PEG ratio of 1.87 and a beta of 0.92.

Service Corporation International (NYSE:SCI - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.05. Service Corporation International had a return on equity of 32.35% and a net margin of 12.58%. The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period last year, the business posted $0.89 earnings per share. The firm's revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts expect that Service Corporation International will post 3.84 EPS for the current year.

Service Corporation International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, June 13th. Service Corporation International's payout ratio is 35.16%.

Service Corporation International Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Service Corporation International (NYSE:SCI)

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