California Public Employees Retirement System boosted its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 6.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,800 shares of the company’s stock after purchasing an additional 3,000 shares during the period. California Public Employees Retirement System owned about 0.29% of Shoe Carnival worth $1,040,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in SCVL. Northern Trust Corp increased its stake in Shoe Carnival by 17.8% in the 2nd quarter. Northern Trust Corp now owns 673,302 shares of the company’s stock worth $14,059,000 after purchasing an additional 101,530 shares during the period. Marshall Wace North America L.P. purchased a new position in Shoe Carnival in the 2nd quarter worth approximately $2,052,000. JPMorgan Chase & Co. increased its stake in Shoe Carnival by 592.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 52,365 shares of the company’s stock worth $1,094,000 after purchasing an additional 44,807 shares during the period. Prudential Financial Inc. increased its stake in Shoe Carnival by 35.7% in the 2nd quarter. Prudential Financial Inc. now owns 153,749 shares of the company’s stock worth $3,210,000 after purchasing an additional 40,480 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Shoe Carnival by 67.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 89,641 shares of the company’s stock worth $1,872,000 after purchasing an additional 36,100 shares during the period. 64.12% of the stock is currently owned by institutional investors and hedge funds.
In other Shoe Carnival news, Director Charles B. Tomm bought 11,190 shares of Shoe Carnival stock in a transaction dated Friday, September 29th. The shares were purchased at an average cost of $22.69 per share, with a total value of $253,901.10. Following the completion of the purchase, the director now owns 16,948 shares of the company’s stock, valued at $384,550.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 28.50% of the stock is currently owned by insiders.
A number of brokerages have commented on SCVL. Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 price target (down from $21.00) on shares of Shoe Carnival in a research note on Thursday, August 31st. BidaskClub cut Shoe Carnival from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Zacks Investment Research cut Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Susquehanna Bancshares Inc lifted their price target on Shoe Carnival from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 31st. Finally, Wedbush began coverage on Shoe Carnival in a research note on Monday, August 14th. They issued an “outperform” rating and a $21.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Shoe Carnival presently has a consensus rating of “Hold” and a consensus price target of $22.57.
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Shoe Carnival, Inc. (NASDAQ SCVL) opened at $19.44 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.25 and a current ratio of 3.38. Shoe Carnival, Inc. has a 12 month low of $15.07 and a 12 month high of $31.79. The stock has a market capitalization of $330.87, a P/E ratio of 14.62, a PEG ratio of 1.12 and a beta of 0.90.
Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Wednesday, August 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. Shoe Carnival had a return on equity of 7.37% and a net margin of 2.09%. The firm had revenue of $235.10 million for the quarter, compared to analysts’ expectations of $232.26 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The business’s revenue was up 1.4% compared to the same quarter last year. sell-side analysts anticipate that Shoe Carnival, Inc. will post 1.45 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, September 29th. This represents a $0.30 annualized dividend and a dividend yield of 1.54%. Shoe Carnival’s dividend payout ratio (DPR) is presently 24.79%.
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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