American International Group Inc. lowered its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 23.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,932 shares of the company’s stock after selling 2,387 shares during the period. American International Group Inc.’s holdings in Shoe Carnival were worth $195,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC bought a new position in Shoe Carnival during the first quarter valued at about $1,580,000. Prudential Financial Inc. increased its position in Shoe Carnival by 120.5% in the first quarter. Prudential Financial Inc. now owns 113,269 shares of the company’s stock valued at $2,783,000 after buying an additional 61,900 shares during the last quarter. TFS Capital LLC bought a new position in Shoe Carnival during the first quarter valued at about $772,000. State Street Corp increased its position in Shoe Carnival by 6.6% in the fourth quarter. State Street Corp now owns 396,715 shares of the company’s stock valued at $10,699,000 after buying an additional 24,412 shares during the last quarter. Finally, KBC Group NV increased its position in Shoe Carnival by 40.2% in the first quarter. KBC Group NV now owns 23,762 shares of the company’s stock valued at $584,000 after buying an additional 6,809 shares during the last quarter. 62.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of Shoe Carnival, Inc. (NASDAQ SCVL) traded up 0.72% during midday trading on Friday, hitting $16.85. 99,328 shares of the stock were exchanged. The firm has a market cap of $290.78 million, a PE ratio of 14.33 and a beta of 0.95. Shoe Carnival, Inc. has a 12-month low of $16.68 and a 12-month high of $31.79. The firm has a 50-day moving average price of $18.86 and a 200 day moving average price of $22.59.
Shoe Carnival (NASDAQ:SCVL) last released its earnings results on Wednesday, May 24th. The company reported $0.48 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.48. Shoe Carnival had a net margin of 2.12% and a return on equity of 7.27%. The company had revenue of $253.40 million for the quarter, compared to analyst estimates of $251.74 million. During the same period in the prior year, the firm earned $0.56 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. Analysts predict that Shoe Carnival, Inc. will post $1.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were paid a dividend of $0.075 per share. The ex-dividend date was Thursday, June 29th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.07. Shoe Carnival’s dividend payout ratio is currently 25.21%.
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Several equities analysts have issued reports on SCVL shares. Sidoti raised shares of Shoe Carnival from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Wednesday, June 28th. BidaskClub downgraded shares of Shoe Carnival from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Zacks Investment Research raised shares of Shoe Carnival from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. ValuEngine raised shares of Shoe Carnival from a “hold” rating to a “buy” rating in a report on Wednesday, May 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $21.00 target price (down from $26.00) on shares of Shoe Carnival in a research report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $24.00.
About Shoe Carnival
Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. It also offers online shopping on its e-commerce site at www.shoecarnival.com.
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