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Hodges Capital Management Inc. Reduces Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Shoe Carnival logo with Retail/Wholesale background

Hodges Capital Management Inc. cut its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 6.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 484,755 shares of the company's stock after selling 30,673 shares during the quarter. Shoe Carnival makes up approximately 1.4% of Hodges Capital Management Inc.'s holdings, making the stock its 18th biggest position. Hodges Capital Management Inc. owned about 1.78% of Shoe Carnival worth $21,256,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SCVL. Victory Capital Management Inc. boosted its stake in shares of Shoe Carnival by 138.3% in the third quarter. Victory Capital Management Inc. now owns 59,239 shares of the company's stock worth $2,598,000 after acquiring an additional 34,382 shares during the period. Pinnacle Associates Ltd. boosted its stake in Shoe Carnival by 69.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 46,540 shares of the company's stock worth $2,041,000 after purchasing an additional 19,030 shares during the period. Creative Planning purchased a new stake 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 shares of Shoe Carnival during the third quarter valued at approximately $37,440,000. 66.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SCVL has been the subject of several research analyst reports. 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 raised their price objective on Shoe Carnival from $42.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, August 29th.

Get Our Latest Report on SCVL

Shoe Carnival Price Performance

Shares of SCVL stock traded up $1.22 on Friday, reaching $33.91. The company's stock had a trading volume of 397,112 shares, compared to its average volume of 385,834. The stock's fifty day simple moving average is $36.76 and its 200-day simple moving average is $38.65. Shoe Carnival, Inc. has a 1 year low of $24.94 and a 1 year high of $46.92. The company has a market capitalization of $921.47 million, a price-to-earnings ratio of 12.47 and a beta of 1.53. The company has a current ratio of 3.88, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50.

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

Shoe Carnival Dividend Announcement

The business 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. The ex-dividend date was Monday, October 7th. This represents a $0.54 dividend on an annualized basis and a yield of 1.59%. Shoe Carnival's dividend payout ratio (DPR) is presently 19.85%.

Shoe Carnival Profile

(Free Report)

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.

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

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