First Eagle Investment Management LLC Sells 40,301 Shares of Shoe Carnival, Inc. $SCVL

First Eagle Investment Management LLC lowered its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 11.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 314,384 shares of the company’s stock after selling 40,301 shares during the quarter. First Eagle Investment Management LLC’s holdings in Shoe Carnival were worth $5,882,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its position in shares of Shoe Carnival by 33.8% in the second quarter. First Horizon Advisors Inc. now owns 1,923 shares of the company’s stock worth $36,000 after buying an additional 486 shares in the last quarter. Verity Asset Management Inc. bought a new stake in Shoe Carnival in the 2nd quarter worth approximately $245,000. Pinnacle Associates Ltd. increased its stake in Shoe Carnival by 23.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 53,464 shares of the company’s stock worth $1,000,000 after acquiring an additional 10,125 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Shoe Carnival by 29.6% during the 2nd quarter. Bessemer Group Inc. now owns 15,973 shares of the company’s stock worth $299,000 after acquiring an additional 3,648 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Shoe Carnival by 27.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 268,005 shares of the company’s stock valued at $5,014,000 after acquiring an additional 58,385 shares during the last quarter. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SCVL. Wall Street Zen upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Seaport Res Ptn downgraded shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Weiss Ratings restated a “hold (c)” rating on shares of Shoe Carnival in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Shoe Carnival from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Shoe Carnival has an average rating of “Moderate Buy”.

Insider Buying and Selling

In other Shoe Carnival news, Director Andrea R. Guthrie sold 2,477 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $20.20, for a total value of $50,035.40. Following the sale, the director owned 24,405 shares in the company, valued at $492,981. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 35.50% of the stock is owned by company insiders.

Shoe Carnival Trading Up 2.7%

Shares of NASDAQ:SCVL opened at $17.40 on Friday. Shoe Carnival, Inc. has a 12 month low of $16.14 and a 12 month high of $39.29. The company has a market capitalization of $476.29 million, a price-to-earnings ratio of 7.67 and a beta of 1.35. The firm’s 50-day moving average is $20.88 and its 200 day moving average is $20.30.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Thursday, September 4th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. The business had revenue of $306.39 million during the quarter, compared to analyst estimates of $318.31 million. Shoe Carnival had a return on equity of 9.65% and a net margin of 5.41%.The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 earnings per share. Shoe Carnival has set its FY 2025 guidance at 1.700-2.10 EPS. As a group, equities analysts forecast that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

Shoe Carnival Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Monday, October 6th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, October 6th. This represents a $0.60 dividend on an annualized basis and a yield of 3.4%. Shoe Carnival’s payout ratio is presently 26.43%.

Shoe Carnival Company 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.