Meros Investment Management LP Trims Stock Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Meros Investment Management LP cut its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 88.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,824 shares of the company's stock after selling 119,266 shares during the period. Meros Investment Management LP owned 0.05% of Shoe Carnival worth $650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SCVL. Victory Capital Management Inc. grew its position in shares of Shoe Carnival by 138.3% during the third quarter. Victory Capital Management Inc. now owns 59,239 shares of the company's stock valued at $2,598,000 after purchasing an additional 34,382 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in Shoe Carnival by 69.2% during the third quarter. Pinnacle Associates Ltd. now owns 46,540 shares of the company's stock valued at $2,041,000 after buying an additional 19,030 shares during the last quarter. Creative Planning purchased a new position in Shoe Carnival during the 2nd quarter valued at approximately $281,000. Millennium Management LLC grew its holdings in Shoe Carnival by 726.1% during the 2nd quarter. Millennium Management LLC now owns 101,831 shares of the company's stock valued at $3,757,000 after buying an additional 89,504 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in Shoe Carnival in the 3rd quarter worth approximately $37,440,000. 66.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SCVL shares. StockNews.com raised shares of Shoe Carnival from a "sell" rating to a "hold" rating in a research note on Saturday, November 30th. Williams Trading lifted their price target on Shoe Carnival from $42.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th.

Shoe Carnival Trading Down 0.1 %

Shares of NASDAQ:SCVL traded down $0.05 during trading on Wednesday, reaching $35.64. 566,143 shares of the company were exchanged, compared to its average volume of 255,431. Shoe Carnival, Inc. has a 12-month low of $24.94 and a 12-month high of $46.92. The firm has a market capitalization of $968.34 million, a PE ratio of 13.12 and a beta of 1.53. The business's fifty day simple moving average is $36.44 and its 200-day simple moving average is $38.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.88 and a quick ratio of 0.89.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.01. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The firm had revenue of $306.90 million during the quarter, compared to the consensus estimate of $316.97 million. During the same period in the previous year, the company posted $0.80 earnings per share. The firm's quarterly revenue was down 4.1% on a year-over-year basis. On average, research analysts anticipate that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Monday, October 7th. Shoe Carnival's payout ratio is 19.85%.

Insider Activity

In other Shoe Carnival news, Chairman Wayne J. Weaver bought 285,500 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were purchased at an average cost of $33.91 per share, for a total transaction of $9,681,305.00. Following the purchase, the chairman now directly owns 4,173,529 shares in the company, valued at $141,524,368.39. This represents a 7.34 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 34.70% of the company's stock.

About Shoe Carnival

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.