American International Group Inc. Decreases Stake in Shoe Carnival, Inc. (SCVL)

American International Group Inc. lowered its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 23.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

A number of other hedge funds and other institutional investors also recently modified their holdings of SCVL. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Shoe Carnival by 5.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,059 shares of the company’s stock valued at $100,000 after buying an additional 200 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Shoe Carnival by 482.3% in the first quarter. JPMorgan Chase & Co. now owns 7,558 shares of the company’s stock valued at $186,000 after buying an additional 6,260 shares during the last quarter. State of Tennessee Treasury Department raised its position in shares of Shoe Carnival by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 13,544 shares of the company’s stock valued at $333,000 after buying an additional 2,044 shares during the last quarter. Comerica Bank raised its position in shares of Shoe Carnival by 3.7% in the first quarter. Comerica Bank now owns 14,693 shares of the company’s stock valued at $376,000 after buying an additional 530 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Shoe Carnival by 6.9% in the first quarter. Great West Life Assurance Co. Can now owns 18,693 shares of the company’s stock valued at $459,000 after buying an additional 1,200 shares during the last quarter. Institutional investors own 62.24% of the company’s stock.

Shares of Shoe Carnival, Inc. (SCVL) opened at 15.78 on Friday. The stock has a 50 day moving average of $18.33 and a 200 day moving average of $22.21. The firm has a market capitalization of $272.32 million, a price-to-earnings ratio of 13.42 and a beta of 0.95. Shoe Carnival, Inc. has a 52-week low of $15.60 and a 52-week high of $31.79.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Wednesday, May 24th. The company reported $0.48 EPS for the quarter, hitting the consensus estimate of $0.48. The business had revenue of $253.40 million during the quarter, compared to analysts’ expectations of $251.74 million. Shoe Carnival had a net margin of 2.12% and a return on equity of 7.27%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. On average, analysts predict that Shoe Carnival, Inc. will post $1.41 EPS for the current fiscal year.

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Several research analysts have weighed in on the stock. B. Riley restated a “neutral” rating and set a $26.00 target price on shares of Shoe Carnival in a research report on Wednesday, May 3rd. Wedbush assumed coverage on shares of Shoe Carnival in a research report on Monday, August 14th. They set an “outperform” rating and a $21.00 target price on the stock. BidaskClub lowered shares of Shoe Carnival from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. TheStreet lowered shares of Shoe Carnival from a “b-” rating to a “c+” rating in a research report on Tuesday, May 23rd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $21.00 price target (down from $26.00) on shares of Shoe Carnival in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $23.57.

Shoe Carnival Company Profile

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.

Institutional Ownership by Quarter for Shoe Carnival (NASDAQ:SCVL)

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