Sonora Investment Management Group LLC Has $2.36 Million Holdings in Shoe Carnival, Inc. (NASDAQ:SCVL)

Sonora Investment Management Group LLC lifted its position in Shoe Carnival, Inc. (NASDAQ:SCVL) by 114.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 107,358 shares of the company’s stock after acquiring an additional 57,402 shares during the quarter. Sonora Investment Management Group LLC owned approximately 0.40% of Shoe Carnival worth $2,361,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in Shoe Carnival by 5.1% during the 4th quarter. Empowered Funds LLC now owns 136,043 shares of the company’s stock valued at $4,500,000 after purchasing an additional 6,584 shares during the period. Rhumbline Advisers grew its holdings in shares of Shoe Carnival by 22.0% during the fourth quarter. Rhumbline Advisers now owns 69,001 shares of the company’s stock valued at $2,283,000 after buying an additional 12,445 shares in the last quarter. Principal Financial Group Inc. raised its position in Shoe Carnival by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 95,181 shares of the company’s stock valued at $3,149,000 after buying an additional 3,452 shares during the period. New York State Common Retirement Fund lifted its stake in Shoe Carnival by 51.7% in the 4th quarter. New York State Common Retirement Fund now owns 34,622 shares of the company’s stock worth $1,145,000 after acquiring an additional 11,800 shares in the last quarter. Finally, Denali Advisors LLC boosted its position in Shoe Carnival by 37.8% during the 4th quarter. Denali Advisors LLC now owns 91,800 shares of the company’s stock worth $3,037,000 after acquiring an additional 25,170 shares during the period. Institutional investors and hedge funds own 66.05% of the company’s stock.

Shoe Carnival Price Performance

NASDAQ:SCVL opened at $20.08 on Tuesday. The stock has a market cap of $548.83 million, a PE ratio of 7.38 and a beta of 1.41. Shoe Carnival, Inc. has a fifty-two week low of $16.14 and a fifty-two week high of $46.92. The stock’s 50-day moving average is $18.76 and its two-hundred day moving average is $24.85.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Friday, May 30th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The business had revenue of $277.72 million during the quarter, compared to analysts’ expectations of $285.16 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. On average, equities research analysts anticipate that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, April 7th. 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 dividend yield of 2.99%. Shoe Carnival’s dividend payout ratio is 25.10%.

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.