Copeland Capital Management LLC Raises Stock Position in Shoe Carnival, Inc. $SCVL

Key Points

• Copeland Capital Management LLC increased its stake in Shoe Carnival, Inc. by 22.8%, owning 1,718,101 shares valued at approximately $32.1 million at the end of the last quarter.
• Despite a 7.9% decrease in year-over-year revenue, Shoe Carnival beat earnings expectations, reporting $0.70 EPS compared to the consensus estimate of $0.61.
• The company recently announced a quarterly dividend of $0.15 per share, resulting in a 2.8% annualized dividend yield, set to be paid on October 20th.

Copeland Capital Management LLC increased its stake in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 22.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,718,101 shares of the company's stock after purchasing an additional 318,771 shares during the quarter. Copeland Capital Management LLC owned 6.28% of Shoe Carnival worth $32,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. boosted its holdings in Shoe Carnival by 145,700.0% in the first quarter. NBC Securities Inc. now owns 1,458 shares of the company's stock worth $32,000 after purchasing an additional 1,457 shares during the last quarter. Versant Capital Management Inc purchased a new stake in Shoe Carnival in the first quarter worth approximately $33,000. GAMMA Investing LLC boosted its holdings in Shoe Carnival by 404.0% in the first quarter. GAMMA Investing LLC now owns 2,510 shares of the company's stock worth $55,000 after purchasing an additional 2,012 shares during the last quarter. CWM LLC boosted its holdings in Shoe Carnival by 188.3% in the first quarter. CWM LLC now owns 3,883 shares of the company's stock worth $85,000 after purchasing an additional 2,536 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Shoe Carnival by 1,025.8% in the first quarter. US Bancorp DE now owns 4,661 shares of the company's stock worth $103,000 after purchasing an additional 4,247 shares during the last quarter. Hedge funds and other institutional investors own 66.05% of the company's stock.

Shoe Carnival Price Performance

Shares of SCVL stock opened at $21.61 on Friday. The company has a market capitalization of $591.47 million, a price-to-earnings ratio of 9.52 and a beta of 1.37. Shoe Carnival, Inc. has a one year low of $16.14 and a one year high of $42.28. The company's fifty day moving average price is $21.78 and its 200-day moving average price is $20.45.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. The firm had revenue of $306.39 million for the quarter, compared to the consensus estimate of $318.31 million. Shoe Carnival had a net margin of 5.41% and a return on equity of 9.65%. The company's revenue was down 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.83 EPS. Shoe Carnival has set its FY 2025 guidance at 1.700-2.10 EPS. Equities research analysts expect 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 will be paid on Monday, October 20th. Stockholders of record on Monday, October 6th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, October 6th. Shoe Carnival's dividend payout ratio (DPR) is presently 26.43%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Seaport Res Ptn cut shares of Shoe Carnival from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Wall Street Zen upgraded shares of Shoe Carnival from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. Finally, Zacks Research cut shares of Shoe Carnival from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Shoe Carnival currently has a consensus rating of "Reduce".

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.

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