Allspring Global Investments Holdings LLC Decreases Stock Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Allspring Global Investments Holdings LLC cut its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL) by 27.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 123,825 shares of the company’s stock after selling 46,730 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Shoe Carnival were worth $5,430,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. American Century Companies Inc. lifted its holdings in shares of Shoe Carnival by 34.7% in the 2nd quarter. American Century Companies Inc. now owns 410,355 shares of the company’s stock valued at $15,138,000 after acquiring an additional 105,818 shares during the last quarter. Foundry Partners LLC boosted its holdings in shares of Shoe Carnival by 4.2% in the 1st quarter. Foundry Partners LLC now owns 150,695 shares of the company’s stock worth $5,521,000 after purchasing an additional 6,110 shares during the period. Empowered Funds LLC boosted its holdings in shares of Shoe Carnival by 40.4% in the 1st quarter. Empowered Funds LLC now owns 114,073 shares of the company’s stock worth $4,180,000 after purchasing an additional 32,827 shares during the period. Millennium Management LLC increased its position in shares of Shoe Carnival by 726.1% during the 2nd quarter. Millennium Management LLC now owns 101,831 shares of the company’s stock valued at $3,757,000 after purchasing an additional 89,504 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Shoe Carnival by 2.3% during the 1st quarter. Russell Investments Group Ltd. now owns 82,153 shares of the company’s stock valued at $3,010,000 after buying an additional 1,853 shares during the period. 66.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Williams Trading lifted their price objective on shares of Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th.

Shoe Carnival Trading Down 1.6 %

Shares of NASDAQ:SCVL opened at $35.03 on Monday. Shoe Carnival, Inc. has a 12 month low of $21.18 and a 12 month high of $46.92. The company has a market capitalization of $951.34 million, a price-to-earnings ratio of 12.93 and a beta of 1.53. The firm’s 50-day moving average is $40.92 and its 200 day moving average is $38.44.

Shoe Carnival (NASDAQ:SCVL) last released its earnings results on Thursday, September 5th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. Shoe Carnival had a return on equity of 13.26% and a net margin of 6.26%. The firm had revenue of $332.70 million for the quarter, compared to analysts’ expectations of $331.45 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities analysts forecast that Shoe Carnival, Inc. will post 2.65 EPS for the current fiscal year.

Shoe Carnival Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a dividend of $0.135 per share. The ex-dividend date was Monday, October 7th. This represents a $0.54 annualized dividend and a dividend yield of 1.54%. Shoe Carnival’s dividend payout ratio (DPR) is 19.93%.

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.