Charles Schwab Investment Management Inc. Buys 19,225 Shares of Shoe Carnival, Inc. $SCVL

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Shoe Carnival, Inc. by 8.9%, acquiring an additional 19,225 shares during the first quarter, bringing its total ownership to about 234,776 shares worth approximately $5.16 million.
• Shoe Carnival recently faced a rating downgrade from strong-buy to hold by Seaport Res Ptn, with analysts currently assigning a Moderate Buy rating and a consensus target price of $51.00.
• The company declared a quarterly dividend of $0.15, yielding 2.7%, with a payout ratio of 25.10% as of the latest reporting date.

Charles Schwab Investment Management Inc. lifted its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 8.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,776 shares of the company's stock after acquiring an additional 19,225 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.86% of Shoe Carnival worth $5,163,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. New Age Alpha Advisors LLC increased its position in shares of Shoe Carnival by 19.9% in the 1st quarter. New Age Alpha Advisors LLC now owns 38,390 shares of the company's stock valued at $844,000 after buying an additional 6,364 shares in the last quarter. US Bancorp DE boosted its stake in shares of Shoe Carnival by 1,025.8% during the 1st quarter. US Bancorp DE now owns 4,661 shares of the company's stock worth $103,000 after buying an additional 4,247 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Shoe Carnival by 84.5% during the 1st quarter. XTX Topco Ltd now owns 16,056 shares of the company's stock worth $353,000 after buying an additional 7,352 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Shoe Carnival during the 1st quarter worth about $4,936,000. Finally, Pinnacle Associates Ltd. lifted its stake in Shoe Carnival by 68.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 43,339 shares of the company's stock valued at $953,000 after purchasing an additional 17,604 shares during the last quarter. Institutional investors and hedge funds own 66.05% of the company's stock.

Analysts Set New Price Targets

Separately, Seaport Res Ptn downgraded Shoe Carnival from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Shoe Carnival has an average rating of "Moderate Buy" and a consensus target price of $51.00.

Shoe Carnival Stock Performance

Shares of SCVL opened at $21.99 on Thursday. The stock has a market capitalization of $601.21 million, a price-to-earnings ratio of 9.20 and a beta of 1.46. Shoe Carnival, Inc. has a 52 week low of $16.14 and a 52 week high of $46.92. The stock has a fifty day moving average of $20.76 and a 200-day moving average of $20.52.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last announced its quarterly earnings data on Friday, May 30th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. The company had revenue of $277.72 million for the quarter, compared to the consensus estimate of $285.16 million. Shoe Carnival had a return on equity of 10.43% and a net margin of 5.58%.The firm's revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. Shoe Carnival has set its FY 2025 guidance at 1.600-2.10 EPS. As a group, equities analysts forecast that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.60 annualized dividend and a yield of 2.7%. Shoe Carnival's payout ratio is currently 25.10%.

Shoe Carnival Company 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.

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