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7,828 Shares in Carriage Services, Inc. (NYSE:CSV) Purchased by Y Intercept Hong Kong Ltd

Carriage Services logo with Consumer Staples background

Key Points

  • Y Intercept Hong Kong Ltd has made a new investment of approximately $303,000 in Carriage Services, acquiring 7,828 shares during Q1 2023.
  • Insider transactions show President Steven D. Metzger sold 3,000 shares for about $121,800, reducing his ownership by 3.80%.
  • Analysts have set new price targets for Carriage Services, with Roth Mkm raising their target to $51.00 while Wall Street Zen downgraded the stock to a "hold" rating.
  • Five stocks we like better than Carriage Services.

Y Intercept Hong Kong Ltd bought a new stake in shares of 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 bought 7,828 shares of the company's stock, valued at approximately $303,000. Y Intercept Hong Kong Ltd owned about 0.05% of Carriage Services as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. American Century Companies Inc. boosted its holdings in Carriage Services by 13.2% during the fourth quarter. American Century Companies Inc. now owns 24,892 shares of the company's stock worth $992,000 after buying an additional 2,900 shares in the last quarter. LPL Financial LLC lifted its stake in Carriage Services by 5.2% in the 4th quarter. LPL Financial LLC now owns 61,700 shares of the company's stock worth $2,459,000 after purchasing an additional 3,030 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Carriage Services by 20.3% during the fourth quarter. JPMorgan Chase & Co. now owns 142,989 shares of the company's stock worth $5,698,000 after purchasing an additional 24,098 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Carriage Services by 16.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 237,228 shares of the company's stock worth $9,454,000 after purchasing an additional 34,342 shares during the period. Finally, Franklin Resources Inc. acquired a new stake in shares of Carriage Services during the fourth quarter valued at about $342,000. Institutional investors and hedge funds own 66.46% of the company's stock.

Insider Transactions at Carriage Services

In other Carriage Services news, President Steven D. Metzger sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $40.60, for a total value of $121,800.00. Following the completion of the sale, the president owned 75,897 shares of the company's stock, valued at $3,081,418.20. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.60% of the company's stock.

Carriage Services Trading Up 0.7%

Shares of CSV stock traded up $0.30 during trading hours on Friday, hitting $45.22. 81,082 shares of the company were exchanged, compared to its average volume of 113,245. The firm has a market cap of $709.50 million, a PE ratio of 15.12, a PEG ratio of 0.94 and a beta of 0.89. Carriage Services, Inc. has a 1 year low of $28.78 and a 1 year high of $47.48. 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 firm has a fifty day moving average of $45.10 and a 200 day moving average of $41.65.

Carriage Services (NYSE:CSV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.16. The business 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%. Analysts expect that Carriage Services, Inc. will post 2.5 earnings per share for the current year.

Carriage Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 4th will be given a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, August 4th. Carriage Services's dividend payout ratio is 15.05%.

Analyst Upgrades and Downgrades

CSV has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Carriage Services from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Barrington Research reiterated an "outperform" rating and issued a $50.00 price target on shares of Carriage Services in a research report on Wednesday. Finally, Roth Mkm reiterated a "buy" rating and issued a $51.00 price target (up previously from $48.00) on shares of Carriage Services in a research report on Friday, May 2nd.

Get Our Latest Analysis on CSV

About Carriage Services

(Free Report)

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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Institutional Ownership by Quarter for Carriage Services (NYSE:CSV)

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