ProShare Advisors LLC Reduces Holdings in Shoe Carnival, Inc. $SCVL

ProShare Advisors LLC reduced its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 17.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 256,051 shares of the company’s stock after selling 54,402 shares during the period. ProShare Advisors LLC’s holdings in Shoe Carnival were worth $5,323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership grew its holdings in Shoe Carnival by 51.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 642,771 shares of the company’s stock valued at $12,026,000 after buying an additional 219,443 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Shoe Carnival by 2.6% in the second quarter. American Century Companies Inc. now owns 585,175 shares of the company’s stock valued at $10,949,000 after acquiring an additional 14,577 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Shoe Carnival by 1.3% during the second quarter. Geode Capital Management LLC now owns 447,456 shares of the company’s stock valued at $8,373,000 after acquiring an additional 5,807 shares during the last quarter. Hodges Capital Management Inc. increased its position in Shoe Carnival by 14.0% during the 2nd quarter. Hodges Capital Management Inc. now owns 438,420 shares of the company’s stock worth $8,203,000 after purchasing an additional 53,680 shares in the last quarter. Finally, Wasatch Advisors LP raised its stake in Shoe Carnival by 37.9% in the 2nd quarter. Wasatch Advisors LP now owns 366,653 shares of the company’s stock valued at $6,860,000 after purchasing an additional 100,832 shares during the last quarter. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Shoe Carnival in a report on Monday, December 29th. Zacks Research lowered shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Shoe Carnival Price Performance

SCVL opened at $20.09 on Friday. Shoe Carnival, Inc. has a 12 month low of $15.21 and a 12 month high of $26.57. The business has a 50-day moving average of $18.80 and a two-hundred day moving average of $19.62. The stock has a market capitalization of $550.06 million, a price-to-earnings ratio of 9.57 and a beta of 1.36.

Shoe Carnival (NASDAQ:SCVL) last released its earnings results on Thursday, November 20th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. Shoe Carnival had a net margin of 5.06% and a return on equity of 8.75%. The business had revenue of $297.16 million for the quarter, compared to analysts’ expectations of $295.25 million. During the same period last year, the company earned $0.71 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. Equities research analysts anticipate that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival announced that its Board of Directors has initiated a share buyback program on Friday, December 12th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 9.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Shoe Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Monday, January 12th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, January 12th. This represents a $0.60 annualized dividend and a dividend yield of 3.0%. Shoe Carnival’s payout ratio is currently 28.57%.

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.