Carriage Services, Inc. (NYSE:CSV) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Carriage Services, Inc. (NYSE:CSV - Free Report) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,558 shares of the company's stock after selling 15,356 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.79% of Carriage Services worth $4,764,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Carriage Services by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 314,864 shares of the company's stock worth $10,339,000 after purchasing an additional 13,126 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Carriage Services by 14.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 149,949 shares of the company's stock valued at $5,975,000 after buying an additional 18,661 shares during the period. Rhumbline Advisers boosted its position in Carriage Services by 60.8% during the fourth quarter. Rhumbline Advisers now owns 32,226 shares of the company's stock worth $1,284,000 after acquiring an additional 12,180 shares during the last quarter. Penn Mutual Asset Management purchased a new stake in Carriage Services in the 3rd quarter worth approximately $433,000. Finally, NFJ Investment Group LLC purchased a new stake in Carriage Services in the 3rd quarter worth approximately $1,784,000. 66.46% of the stock is owned by hedge funds and other institutional investors.

Carriage Services Stock Down 0.2 %

Carriage Services stock traded down $0.07 during midday trading on Friday, hitting $38.25. 98,445 shares of the stock were exchanged, compared to its average volume of 109,177. Carriage Services, Inc. has a 1 year low of $23.20 and a 1 year high of $42.75. The firm has a market cap of $598.68 million, a P/E ratio of 17.15, a P/E/G ratio of 0.97 and a beta of 0.91. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.72 and a quick ratio of 0.59. The company has a 50 day moving average price of $39.96 and a two-hundred day moving average price of $37.52.

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Carriage Services (NYSE:CSV - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.11. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The company had revenue of $97.70 million during the quarter, compared to analyst estimates of $96.72 million. During the same period last year, the business earned $0.77 EPS. On average, sell-side analysts predict that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd were given a $0.1125 dividend. This represents a $0.45 annualized dividend and a yield of 1.18%. The ex-dividend date was Monday, February 3rd. Carriage Services's dividend payout ratio (DPR) is 21.43%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Barrington Research reissued an "outperform" rating and issued a $50.00 price target on shares of Carriage Services in a research note on Friday, February 28th. StockNews.com lowered shares of Carriage Services from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th.

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.