BlackRock Inc. purchased a new stake in shares of Shoe Carnival, Inc. (NASDAQ:SHOE - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 1,955,955 shares of the company's stock, valued at approximately $29,007,000. BlackRock Inc. owned approximately 7.20% of Shoe Carnival at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. ProShare Advisors LLC raised its position in shares of Shoe Carnival by 33.1% during the 4th quarter. ProShare Advisors LLC now owns 340,912 shares of the company's stock valued at $5,755,000 after acquiring an additional 84,861 shares in the last quarter. Meros Investment Management LP acquired a new position in Shoe Carnival during the 4th quarter valued at about $7,007,000. Sei Investments Co. boosted its position in shares of Shoe Carnival by 69.7% during the first quarter. Sei Investments Co. now owns 155,660 shares of the company's stock worth $2,427,000 after buying an additional 63,912 shares during the period. Royce & Associates LP grew its stake in shares of Shoe Carnival by 38.6% in the fourth quarter. Royce & Associates LP now owns 577,201 shares of the company's stock worth $9,743,000 after purchasing an additional 160,747 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Shoe Carnival by 123.5% in the fourth quarter. Hsbc Holdings PLC now owns 81,871 shares of the company's stock worth $1,392,000 after purchasing an additional 45,246 shares during the period. Institutional investors and hedge funds own 66.05% of the company's stock.
Analysts Set New Price Targets
Several research firms have commented on SHOE. Zacks Research cut shares of Shoe Carnival from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 12th. Weiss Ratings started coverage on shares of Shoe Carnival in a research note on Monday, June 15th. They issued a "hold (c-)" rating for the company. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Shoe Carnival presently has an average rating of "Moderate Buy" and a consensus target price of $22.00.
Get Our Latest Stock Analysis on Shoe Carnival
Shoe Carnival Stock Performance
Shoe Carnival stock opened at $12.84 on Wednesday. The firm has a market capitalization of $348.62 million, a price-to-earnings ratio of 9.51 and a beta of 1.43. Shoe Carnival, Inc. has a 1 year low of $12.78 and a 1 year high of $26.57. The business has a 50 day simple moving average of $15.12.
Shoe Carnival (NASDAQ:SHOE - Get Free Report) last announced its earnings results on Thursday, May 21st. The company reported $0.23 earnings per share (EPS) for the quarter. Shoe Carnival had a return on equity of 7.24% and a net margin of 3.31%.The company had revenue of $270.73 million for the quarter. Analysts predict that Shoe Carnival, Inc. will post 1.5 EPS for the current fiscal year.
Shoe Carnival Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Monday, July 6th. Shoe Carnival's dividend payout ratio is 50.37%.
Shoe Carnival Profile
(
Free Report)
Shoe Carnival, Inc NASDAQ: SCVL is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.
Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.
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