Canyon Capital Advisors Lowers stake in Service Corporation International (SCI)

Service Corporation International (SCI) : Canyon Capital Advisors reduced its stake in Service Corporation International by 1.29% during the most recent quarter end. The investment management company now holds a total of 2,943,723 shares of Service Corporation International which is valued at $80,569,699 after selling 38,585 shares in Service Corporation International , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Service Corporation International makes up approximately 3.14% of Canyon Capital Advisors’s portfolio.

Other Hedge Funds, Including , Two Sigma Investments Lp reduced its stake in SCI by selling 159,591 shares or 16.27% in the most recent quarter. The Hedge Fund company now holds 821,331 shares of SCI which is valued at $22,479,829. Service Corporation International makes up approx 0.10% of Two Sigma Investments Lp’s portfolio.Baring Asset Management Ltd reduced its stake in SCI by selling 25,224 shares or 7.34% in the most recent quarter. The Hedge Fund company now holds 318,393 shares of SCI which is valued at $8,994,602. Service Corporation International makes up approx 0.71% of Baring Asset Management Ltd’s portfolio.Leavell Investment Management boosted its stake in SCI in the latest quarter, The investment management firm added 8,329 additional shares and now holds a total of 25,553 shares of Service Corporation International which is valued at $730,816. Service Corporation International makes up approx 0.11% of Leavell Investment Management’s portfolio.

Service Corporation International closed down -0.24 points or -0.91% at $26.2 with 12,07,154 shares getting traded on Thursday. Post opening the session at $26.38, the shares hit an intraday low of $26.15 and an intraday high of $26.57 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Service Corporation International reported $0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.29. The company had revenue of $751.70 million for the quarter, compared to analysts expectations of $767.11 million. The company’s revenue was down -.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.

Investors should note that on Aug 10, 2016, Service Corporation International announced a cash dividend of $0.1300. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on Service Corporation International. Service Corporation International was Initiated by Wells Fargo to “Market Perform” on Aug 2, 2016.

Service Corporation International is a provider of death care products and services. The Company has a network of funeral service locations and cemeteries operating in the United States and Canada. Its funeral service and cemetery operations consist of funeral service locations cemeteries funeral service/cemetery combination locations crematoria and related businesses. The Company’s segments include Funeral and Cemetery. The Company’s brands include Dignity Memorial Dignity Planning National Cremation Society Advantage Funeraria Del Angel Making Everlasting Memories and Neptune Society/Trident Society. The Company sells cemetery property and funeral and cemetery merchandise and services at the time of need and on a pre-need basis. The Company provides professional services relating to funerals and cremations including the use of funeral facilities and motor vehicles and preparation and embalming services.

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