LSV Asset Management Sells 48,500 Shares of Shoe Carnival, Inc. $SCVL

LSV Asset Management cut its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 15.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 267,218 shares of the company’s stock after selling 48,500 shares during the period. LSV Asset Management owned about 0.98% of Shoe Carnival worth $4,511,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC bought a new stake in shares of Shoe Carnival during the fourth quarter valued at approximately $28,000. Huntington National Bank increased its position in shares of Shoe Carnival by 164.8% during the third quarter. Huntington National Bank now owns 1,491 shares of the company’s stock valued at $31,000 after purchasing an additional 928 shares during the period. Hantz Financial Services Inc. increased its position in shares of Shoe Carnival by 305.0% during the third quarter. Hantz Financial Services Inc. now owns 2,029 shares of the company’s stock valued at $42,000 after purchasing an additional 1,528 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Shoe Carnival by 66.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,005 shares of the company’s stock valued at $146,000 after acquiring an additional 2,809 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Shoe Carnival in the second quarter valued at $146,000. 66.05% of the stock is currently owned by institutional investors.

Shoe Carnival Price Performance

Shares of NASDAQ:SCVL opened at $17.16 on Wednesday. The business’s fifty day moving average price is $17.25 and its two-hundred day moving average price is $18.12. Shoe Carnival, Inc. has a fifty-two week low of $14.91 and a fifty-two week high of $26.57. The stock has a market capitalization of $471.63 million, a price-to-earnings ratio of 12.71 and a beta of 1.44.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Thursday, May 21st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Shoe Carnival had a return on equity of 7.24% and a net margin of 3.31%.The firm had revenue of $270.73 million for the quarter, compared to analysts’ expectations of $268.73 million. During the same period in the prior year, the business posted $0.34 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. Research analysts expect that Shoe Carnival, Inc. will post 1.5 EPS for the current fiscal year.

Shoe Carnival Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Monday, April 6th were issued a dividend of $0.17 per share. The ex-dividend date was Monday, April 6th. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 4.0%. Shoe Carnival’s dividend payout ratio (DPR) is currently 50.37%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SCVL shares. Williams Trading set a $22.00 price target on Shoe Carnival in a research report on Thursday, February 26th. Zacks Research upgraded Shoe Carnival from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 21st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Shoe Carnival in a research report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Shoe Carnival currently has a consensus rating of “Buy” and a consensus target price of $22.00.

Insider Activity at Shoe Carnival

In other Shoe Carnival news, CFO W Kerry Jackson bought 31,000 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were bought at an average price of $16.13 per share, for a total transaction of $500,030.00. Following the completion of the acquisition, the chief financial officer owned 215,529 shares of the company’s stock, valued at approximately $3,476,482.77. This trade represents a 16.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 33.60% of the company’s stock.

About Shoe Carnival

Shoe Carnival, Inc (NASDAQ: SCVL) is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.

Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.