Voloridge Investment Management LLC Takes Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Voloridge Investment Management LLC acquired a new stake in Shoe Carnival, Inc. (NASDAQ:SCVL) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 37,214 shares of the company’s stock, valued at approximately $1,231,000. Voloridge Investment Management LLC owned 0.14% of Shoe Carnival at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCVL. BNP Paribas Financial Markets lifted its stake in shares of Shoe Carnival by 241.2% in the 4th quarter. BNP Paribas Financial Markets now owns 203,805 shares of the company’s stock valued at $6,742,000 after purchasing an additional 144,066 shares during the period. JPMorgan Chase & Co. raised its stake in Shoe Carnival by 215.0% during the 4th quarter. JPMorgan Chase & Co. now owns 194,627 shares of the company’s stock worth $6,438,000 after buying an additional 132,844 shares during the period. Renaissance Technologies LLC raised its stake in Shoe Carnival by 219.0% during the 4th quarter. Renaissance Technologies LLC now owns 148,868 shares of the company’s stock worth $4,925,000 after buying an additional 102,200 shares during the period. Hodges Capital Management Inc. raised its stake in Shoe Carnival by 20.0% during the 4th quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company’s stock worth $19,236,000 after buying an additional 96,753 shares during the period. Finally, Brandywine Global Investment Management LLC acquired a new position in Shoe Carnival during the 4th quarter worth approximately $2,751,000. 66.05% of the stock is owned by institutional investors and hedge funds.

Shoe Carnival Stock Performance

SCVL stock opened at $19.09 on Thursday. The stock’s 50 day simple moving average is $19.21 and its 200 day simple moving average is $25.89. Shoe Carnival, Inc. has a fifty-two week low of $16.14 and a fifty-two week high of $46.92. The company has a market cap of $521.77 million, a P/E ratio of 7.02 and a beta of 1.41.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The business had revenue of $262.90 million for the quarter, compared to the consensus estimate of $277.89 million. During the same period in the prior year, the business earned $0.59 EPS. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. Equities analysts predict that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a dividend of $0.15 per share. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Monday, April 7th. Shoe Carnival’s dividend payout ratio is 22.39%.

Shoe Carnival Profile

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.