Nine Chapters Capital Management LLC bought a new stake in Shoe Carnival, Inc. (NASDAQ:SCVL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,800 shares of the company’s stock, valued at approximately $242,000. Nine Chapters Capital Management LLC owned 0.06% of Shoe Carnival as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in SCVL. Swiss National Bank lifted its holdings in Shoe Carnival by 9.5% in the first quarter. Swiss National Bank now owns 24,300 shares of the company’s stock valued at $597,000 after buying an additional 2,100 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Shoe Carnival by 5.0% during the first quarter. Ameriprise Financial Inc. now owns 69,850 shares of the company’s stock valued at $1,716,000 after purchasing an additional 3,325 shares during the period. Parametric Portfolio Associates LLC raised its holdings in shares of Shoe Carnival by 5.6% during the first quarter. Parametric Portfolio Associates LLC now owns 65,717 shares of the company’s stock valued at $1,615,000 after purchasing an additional 3,463 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Shoe Carnival by 482.3% during the first quarter. JPMorgan Chase & Co. now owns 7,558 shares of the company’s stock valued at $186,000 after purchasing an additional 6,260 shares during the period. Finally, OppenheimerFunds Inc. raised its holdings in shares of Shoe Carnival by 30.3% during the first quarter. OppenheimerFunds Inc. now owns 28,784 shares of the company’s stock valued at $708,000 after purchasing an additional 6,696 shares during the period. Institutional investors and hedge funds own 62.64% of the company’s stock.
Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Shoe Carnival had a net margin of 2.09% and a return on equity of 7.37%. The firm had revenue of $235.10 million during the quarter, compared to analyst estimates of $232.26 million. During the same period in the previous year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were paid a $0.075 dividend. The ex-dividend date was Friday, September 29th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.63%. Shoe Carnival’s dividend payout ratio is presently 24.79%.
Several equities analysts have recently weighed in on SCVL shares. Zacks Investment Research upgraded shares of Shoe Carnival from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Thursday, September 7th. Susquehanna Bancshares Inc reiterated a “hold” rating and set a $18.00 price objective on shares of Shoe Carnival in a report on Monday, August 28th. Jefferies Group LLC reiterated a “hold” rating and set a $20.00 price objective (down previously from $21.00) on shares of Shoe Carnival in a report on Thursday, August 31st. Sidoti lowered shares of Shoe Carnival from a “buy” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a report on Tuesday, October 3rd. Finally, 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 for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Shoe Carnival presently has a consensus rating of “Hold” and an average target price of $22.57.
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In related news, Director Charles B. Tomm purchased 11,190 shares of Shoe Carnival stock in a transaction dated Friday, September 29th. The stock was purchased at an average cost of $22.69 per share, for a total transaction of $253,901.10. Following the completion of the purchase, the director now directly owns 16,948 shares of the company’s stock, valued at approximately $384,550.12. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 28.50% of the company’s stock.
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.
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