Panagora Asset Management Inc. cut its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 91.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,534 shares of the company’s stock after selling 127,397 shares during the period. Panagora Asset Management Inc. owned about 0.09% of Shoe Carnival worth $346,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. New York State Teachers Retirement System grew its position in shares of Shoe Carnival by 11.6% during the second quarter. New York State Teachers Retirement System now owns 8,119 shares of the company’s stock worth $224,000 after purchasing an additional 841 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Shoe Carnival during the first quarter worth about $225,000. BNP Paribas Arbitrage SA boosted its stake in shares of Shoe Carnival by 39.5% during the first quarter. BNP Paribas Arbitrage SA now owns 7,403 shares of the company’s stock worth $252,000 after buying an additional 2,098 shares during the period. Aperio Group LLC boosted its stake in shares of Shoe Carnival by 20.5% during the second quarter. Aperio Group LLC now owns 9,725 shares of the company’s stock worth $268,000 after buying an additional 1,656 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Shoe Carnival by 17.0% during the second quarter. SG Americas Securities LLC now owns 10,874 shares of the company’s stock worth $300,000 after buying an additional 1,583 shares during the period. Institutional investors and hedge funds own 94.44% of the company’s stock.
SCVL has been the subject of several recent research reports. Wedbush reiterated an “outperform” rating on shares of Shoe Carnival in a research note on Thursday, August 29th. BidaskClub raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Tuesday. Pivotal Research set a $31.00 target price on shares of Shoe Carnival and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Zacks Investment Research raised shares of Shoe Carnival from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Saturday, August 31st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $34.75.
Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.80 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.80. Shoe Carnival had a net margin of 3.81% and a return on equity of 12.32%. The company had revenue of $268.22 million during the quarter, compared to analysts’ expectations of $268.62 million. During the same period in the previous year, the company earned $0.76 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. Research analysts predict that Shoe Carnival, Inc. will post 2.65 EPS for the current fiscal year.
In other Shoe Carnival news, Director Charles B. Tomm sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $29.49, for a total value of $235,920.00. Following the transaction, the director now owns 13,039 shares in the company, valued at approximately $384,520.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kent A. Kleeberger sold 1,090 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $28.68, for a total transaction of $31,261.20. Following the completion of the transaction, the director now owns 15,054 shares in the company, valued at approximately $431,748.72. The disclosure for this sale can be found here. 23.60% of the stock is currently owned by corporate insiders.
Shoe Carnival Company Profile
Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, scarves, and wallets.
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