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

LSV Asset Management lessened its holdings in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 15.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 267,218 shares of the company’s stock after selling 48,500 shares during the period. LSV Asset Management’s holdings in Shoe Carnival were worth $4,511,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SCVL. Millennium Management LLC grew its holdings in shares of Shoe Carnival by 215.9% during the first quarter. Millennium Management LLC now owns 321,764 shares of the company’s stock worth $7,076,000 after purchasing an additional 219,918 shares during the last quarter. Divisadero Street Capital Management LP bought a new stake in shares of Shoe Carnival during the third quarter worth $3,813,000. Jump Financial LLC grew its holdings in shares of Shoe Carnival by 1,050.1% during the second quarter. Jump Financial LLC now owns 173,670 shares of the company’s stock worth $3,249,000 after purchasing an additional 158,570 shares during the last quarter. Pacific Ridge Capital Partners LLC bought a new stake in shares of Shoe Carnival during the fourth quarter worth $2,573,000. Finally, Gabelli Funds LLC bought a new stake in shares of Shoe Carnival during the second quarter worth $2,615,000. Institutional investors own 66.05% of the company’s stock.

Insider Activity

In other news, CFO W Kerry Jackson purchased 31,000 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were acquired at an average price of $16.13 per share, with a total value of $500,030.00. Following the completion of the purchase, the chief financial officer directly owned 215,529 shares of the company’s stock, valued at $3,476,482.77. The trade was a 16.80% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 33.60% of the stock is owned by company insiders.

Shoe Carnival Stock Up 3.0%

Shares of SCVL opened at $17.16 on Wednesday. Shoe Carnival, Inc. has a 12-month low of $14.91 and a 12-month high of $26.57. The firm has a market capitalization of $471.63 million, a PE ratio of 12.71 and a beta of 1.44. The stock’s fifty day simple moving average is $17.25 and its 200-day simple moving average is $18.12.

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

Shoe Carnival Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Shoe Carnival Profile

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.