Element Capital Management LLC acquired a new position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,534 shares of the company’s stock, valued at approximately $251,000. Element Capital Management LLC owned about 0.07% of Shoe Carnival at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Northern Trust Corp raised its holdings in Shoe Carnival by 0.5% during the first quarter. Northern Trust Corp now owns 727,285 shares of the company’s stock worth $17,309,000 after buying an additional 3,319 shares during the last quarter. Rhumbline Advisers raised its holdings in Shoe Carnival by 12.9% during the fourth quarter. Rhumbline Advisers now owns 29,078 shares of the company’s stock worth $778,000 after buying an additional 3,324 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Shoe Carnival by 24.8% during the fourth quarter. Wells Fargo & Company MN now owns 18,041 shares of the company’s stock worth $482,000 after buying an additional 3,580 shares during the last quarter. Systematic Financial Management LP raised its holdings in Shoe Carnival by 9.1% during the first quarter. Systematic Financial Management LP now owns 45,963 shares of the company’s stock worth $1,094,000 after buying an additional 3,820 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in Shoe Carnival during the fourth quarter worth $110,000. Hedge funds and other institutional investors own 82.69% of the company’s stock.
SCVL has been the topic of several research reports. Jefferies Financial Group restated a “hold” rating and set a $24.00 price objective on shares of Shoe Carnival in a report on Wednesday, March 28th. Pivotal Research upgraded shares of Shoe Carnival from a “hold” rating to a “buy” rating and upped their price objective for the stock from $29.00 to $30.00 in a report on Friday, March 16th. TheStreet downgraded shares of Shoe Carnival from a “b” rating to a “c+” rating in a report on Wednesday, March 28th. Zacks Investment Research downgraded shares of Shoe Carnival from a “hold” rating to a “sell” rating in a report on Friday, March 30th. Finally, BidaskClub upgraded shares of Shoe Carnival from a “hold” rating to a “buy” rating in a report on Thursday, May 31st. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Shoe Carnival currently has an average rating of “Buy” and an average target price of $29.50.
Shares of SCVL stock opened at $34.12 on Monday. The stock has a market capitalization of $544.67 million, a PE ratio of 22.90, a PEG ratio of 1.39 and a beta of 0.85. Shoe Carnival, Inc. has a one year low of $15.07 and a one year high of $34.98.
Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Thursday, May 24th. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.12. The company had revenue of $257.40 million during the quarter, compared to the consensus estimate of $261.82 million. Shoe Carnival had a net margin of 2.31% and a return on equity of 9.61%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 earnings per share. sell-side analysts expect that Shoe Carnival, Inc. will post 2.03 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 27th. Stockholders of record on Monday, July 9th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, July 6th. This represents a $0.32 annualized dividend and a dividend yield of 0.94%. Shoe Carnival’s dividend payout ratio is currently 20.13%.
In related news, CEO Clifton E. Sifford sold 7,500 shares of the stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $23.75, for a total transaction of $178,125.00. Following the completion of the transaction, the chief executive officer now owns 238,903 shares in the company, valued at $5,673,946.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP W Kerry Jackson sold 4,000 shares of the stock in a transaction dated Thursday, April 5th. The shares were sold at an average price of $23.82, for a total transaction of $95,280.00. Following the transaction, the executive vice president now owns 131,187 shares of the company’s stock, valued at approximately $3,124,874.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,842 shares of company stock valued at $372,032. 22.70% of the stock is currently owned by corporate insiders.
About Shoe Carnival
Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.
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