Pinnacle Associates Ltd. Buys 19,030 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Pinnacle Associates Ltd. grew its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 69.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,540 shares of the company's stock after acquiring an additional 19,030 shares during the quarter. Pinnacle Associates Ltd. owned 0.17% of Shoe Carnival worth $2,041,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Shoe Carnival in the 2nd quarter valued at approximately $41,000. Everence Capital Management Inc. acquired a new stake in shares of Shoe Carnival in the 3rd quarter valued at approximately $224,000. Maryland State Retirement & Pension System acquired a new stake in shares of Shoe Carnival in the 1st quarter valued at approximately $240,000. Summit Global Investments acquired a new stake in shares of Shoe Carnival in the 2nd quarter valued at approximately $244,000. Finally, EMC Capital Management boosted its holdings in shares of Shoe Carnival by 11.9% in the 1st quarter. EMC Capital Management now owns 7,468 shares of the company's stock valued at $274,000 after buying an additional 793 shares during the last quarter. Institutional investors and hedge funds own 66.05% of the company's stock.

Shoe Carnival Price Performance

Shoe Carnival stock traded down $0.12 during mid-day trading on Friday, hitting $34.15. 325,325 shares of the company's stock traded hands, compared to its average volume of 281,770. The firm has a 50 day simple moving average of $40.11 and a two-hundred day simple moving average of $38.44. Shoe Carnival, Inc. has a fifty-two week low of $21.50 and a fifty-two week high of $46.92. The stock has a market cap of $927.86 million, a price-to-earnings ratio of 12.11 and a beta of 1.56.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.03. Shoe Carnival had a return on equity of 13.26% and a net margin of 6.26%. The business had revenue of $332.70 million during the quarter, compared to the consensus estimate of $331.45 million. During the same quarter last year, the firm posted $0.71 EPS. The company's quarterly revenue was up 12.9% on a year-over-year basis. On average, research analysts anticipate that Shoe Carnival, Inc. will post 2.65 earnings per share for the current fiscal year.

Shoe Carnival Announces Dividend

The company also recently disclosed 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 yield of 1.58%. The ex-dividend date of this dividend was Monday, October 7th. Shoe Carnival's payout ratio is 19.15%.

Analyst Ratings Changes

Separately, Williams Trading increased their price objective on Shoe Carnival from $42.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, August 29th.

Shoe Carnival Profile

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.