Royce & Associates LP Purchases 160,747 Shares of Shoe Carnival, Inc. $SCVL

Royce & Associates LP increased its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 38.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 577,201 shares of the company’s stock after buying an additional 160,747 shares during the period. Royce & Associates LP’s holdings in Shoe Carnival were worth $9,743,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. CSM Advisors LLC raised its stake in Shoe Carnival by 120.1% during the third quarter. CSM Advisors LLC now owns 108,555 shares of the company’s stock worth $2,258,000 after buying an additional 59,245 shares during the last quarter. Divisadero Street Capital Management LP acquired a new stake in Shoe Carnival in the third quarter worth $3,813,000. ProShare Advisors LLC grew its holdings in Shoe Carnival by 33.1% in the fourth quarter. ProShare Advisors LLC now owns 340,912 shares of the company’s stock worth $5,755,000 after purchasing an additional 84,861 shares during the period. SummerHaven Investment Management LLC acquired a new stake in Shoe Carnival in the third quarter worth $809,000. Finally, Pacific Ridge Capital Partners LLC acquired a new stake in Shoe Carnival in the fourth quarter worth $2,573,000. Institutional investors own 66.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Shoe Carnival news, CFO W Kerry Jackson acquired 31,000 shares of Shoe Carnival stock in a transaction dated Thursday, April 2nd. The stock was purchased at an average cost of $16.13 per share, for a total transaction of $500,030.00. Following the completion of the acquisition, the chief financial officer directly owned 215,529 shares of the company’s stock, valued at $3,476,482.77. This represents a 16.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 33.60% of the stock is owned by corporate insiders.

Shoe Carnival Price Performance

Shares of NASDAQ SCVL opened at $17.60 on Friday. The stock has a market capitalization of $483.65 million, a P/E ratio of 13.04 and a beta of 1.44. The company has a 50-day moving average price of $17.24 and a 200-day moving average price of $18.12. Shoe Carnival, Inc. has a 1 year low of $14.91 and a 1 year high of $26.57.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Thursday, May 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $270.73 million during the quarter, compared to analysts’ expectations of $268.73 million. Shoe Carnival had a net margin of 3.31% and a return on equity of 7.24%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. As a group, equities research analysts anticipate that Shoe Carnival, Inc. will post 1.5 earnings per share for the current fiscal year.

Shoe Carnival Increases Dividend

The firm also recently disclosed 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. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Monday, April 6th. Shoe Carnival’s dividend payout ratio is 50.37%.

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.