LSV Asset Management Cuts Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

LSV Asset Management lessened its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 361,518 shares of the company’s stock after selling 13,300 shares during the quarter. LSV Asset Management owned about 1.33% of Shoe Carnival worth $13,336,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Soviero Asset Management LP lifted its stake in shares of Shoe Carnival by 244.3% in the 4th quarter. Soviero Asset Management LP now owns 241,000 shares of the company’s stock valued at $7,281,000 after purchasing an additional 171,000 shares during the last quarter. Wasatch Advisors LP lifted its stake in shares of Shoe Carnival by 22.2% in the 4th quarter. Wasatch Advisors LP now owns 295,412 shares of the company’s stock valued at $8,924,000 after purchasing an additional 53,702 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Shoe Carnival by 14.0% in the 4th quarter. First Eagle Investment Management LLC now owns 412,144 shares of the company’s stock valued at $12,451,000 after purchasing an additional 50,750 shares during the last quarter. Empowered Funds LLC lifted its stake 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 valued at $4,180,000 after purchasing an additional 32,827 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Shoe Carnival by 16.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 190,953 shares of the company’s stock valued at $6,997,000 after purchasing an additional 27,404 shares during the last quarter. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Shoe Carnival Stock Performance

Shares of SCVL stock opened at $40.43 on Wednesday. Shoe Carnival, Inc. has a 52-week low of $20.75 and a 52-week high of $44.48. The firm has a market capitalization of $1.10 billion, a P/E ratio of 14.92 and a beta of 1.53. The stock has a 50 day moving average price of $40.21 and a 200 day moving average price of $36.78.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $331.45 million. During the same period last year, the company earned $0.71 EPS. Shoe Carnival’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Shoe Carnival, Inc. will post 2.65 EPS for the current year.

Shoe Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Monday, July 8th. Shoe Carnival’s dividend payout ratio is currently 19.93%.

Wall Street Analysts Forecast Growth

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

Shoe Carnival 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.