Connor Clark & Lunn Investment Management Ltd. Invests $800,000 in Shoe Carnival, Inc. $SCVL

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 36,397 shares of the company's stock, valued at approximately $800,000. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of Shoe Carnival at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Copeland Capital Management LLC boosted its stake in Shoe Carnival by 16.2% in the 1st quarter. Copeland Capital Management LLC now owns 1,399,330 shares of the company's stock worth $30,771,000 after purchasing an additional 194,887 shares during the period. New South Capital Management Inc. boosted its stake in Shoe Carnival by 189.9% in the 1st quarter. New South Capital Management Inc. now owns 699,824 shares of the company's stock worth $15,389,000 after purchasing an additional 458,412 shares during the period. Northern Trust Corp boosted its stake in Shoe Carnival by 4.7% in the 4th quarter. Northern Trust Corp now owns 507,661 shares of the company's stock worth $16,793,000 after purchasing an additional 22,859 shares during the period. Geode Capital Management LLC boosted its stake in Shoe Carnival by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 454,332 shares of the company's stock worth $15,032,000 after purchasing an additional 1,784 shares during the period. Finally, Bridgeway Capital Management LLC boosted its stake in Shoe Carnival by 2.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 240,543 shares of the company's stock worth $7,957,000 after purchasing an additional 6,584 shares during the period. 66.05% of the stock is currently owned by institutional investors.

Shoe Carnival Stock Up 5.6%

SCVL stock traded up $1.1850 during midday trading on Friday, hitting $22.1950. The company's stock had a trading volume of 117,852 shares, compared to its average volume of 481,931. Shoe Carnival, Inc. has a 12 month low of $16.14 and a 12 month high of $46.92. The firm has a market capitalization of $606.72 million, a price-to-earnings ratio of 9.27 and a beta of 1.46. The company has a 50 day moving average of $20.58 and a two-hundred day moving average of $20.65.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last posted its quarterly earnings results on Friday, May 30th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.04. Shoe Carnival had a return on equity of 10.43% and a net margin of 5.58%.The business had revenue of $277.72 million during the quarter, compared to the consensus estimate of $285.16 million. During the same period in the prior year, the company posted $0.64 EPS. The firm's revenue for the quarter was down 7.6% compared to the same quarter last year. Shoe Carnival has set its FY 2025 guidance at 1.600-2.10 EPS. On average, analysts anticipate that Shoe Carnival, Inc. will post 2.6 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, July 21st. Stockholders of record on Monday, July 7th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, July 7th. Shoe Carnival's dividend payout ratio is 25.10%.

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.