Copeland Capital Management LLC Sells 104,088 Shares of Shoe Carnival, Inc. $SCVL

Key Points

• Copeland Capital sold 104,088 shares of Shoe Carnival, reducing its stake by 6.4% to 1,520,739 shares (about 5.55% of the company) worth roughly $25.7 million.
• CFO W. Kerry Jackson bought 31,000 shares at an average $16.13, raising his holdings 16.8% to 215,529 shares (≈$3.48 million), signaling insider buying amid institutional moves.
• Shoe Carnival reported Q results of $0.33 EPS (in line) and revenue of $254.1M (down 3.3% year-over-year), raised its quarterly dividend to $0.17 (annual $0.68, yield 3.6%), and carries a consensus analyst rating of "Moderate Buy" with an average $22 price target.

Copeland Capital Management LLC lowered its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,520,739 shares of the company's stock after selling 104,088 shares during the period. Copeland Capital Management LLC owned approximately 5.55% of Shoe Carnival worth $25,670,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CSM Advisors LLC boosted its holdings in Shoe Carnival by 120.1% during the third quarter. CSM Advisors LLC now owns 108,555 shares of the company's stock worth $2,258,000 after buying an additional 59,245 shares during the last quarter. Divisadero Street Capital Management LP bought a new position in Shoe Carnival during the third quarter worth about $3,813,000. North Star Investment Management Corp. lifted its holdings in shares of Shoe Carnival by 51.6% during the 3rd quarter. North Star Investment Management Corp. now owns 96,892 shares of the company's stock valued at $2,014,000 after purchasing an additional 33,000 shares in the last quarter. SummerHaven Investment Management LLC bought a new position in shares of Shoe Carnival during the 3rd quarter valued at about $809,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Shoe Carnival by 9.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 13,449 shares of the company's stock valued at $227,000 after purchasing an additional 1,156 shares in the last quarter. Institutional investors own 66.05% of the company's stock.

Insider Transactions at Shoe Carnival

In other news, CFO W Kerry Jackson bought 31,000 shares of the company's stock in a transaction that occurred on Thursday, April 2nd. The shares were acquired at an average price of $16.13 per share, with a total value of $500,030.00. Following the transaction, the chief financial officer owned 215,529 shares in the company, valued at $3,476,482.77. This represents a 16.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 35.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SCVL shares. Williams Trading set a $22.00 price objective on Shoe Carnival in a report on Thursday, February 26th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Shoe Carnival in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $22.00.

Shoe Carnival Price Performance

NASDAQ:SCVL opened at $18.75 on Friday. Shoe Carnival, Inc. has a fifty-two week low of $15.04 and a fifty-two week high of $26.57. The stock has a market capitalization of $515.06 million, a PE ratio of 9.87 and a beta of 1.36. The business's 50-day simple moving average is $18.39 and its 200-day simple moving average is $18.46.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last announced its earnings results on Thursday, March 26th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.33. Shoe Carnival had a return on equity of 7.75% and a net margin of 4.60%.The business had revenue of $254.07 million for the quarter, compared to analyst estimates of $255.83 million. During the same quarter last year, the firm earned $0.54 EPS. Shoe Carnival's revenue for the quarter was down 3.3% compared to the same quarter last year. On average, research analysts expect that Shoe Carnival, Inc. will post 1.5 earnings per share for the current year.

Shoe Carnival Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 20th. Investors of record on Monday, April 6th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, April 6th. This represents a $0.68 dividend on an annualized basis and a yield of 3.6%. This is a boost from Shoe Carnival's previous quarterly dividend of $0.15. Shoe Carnival's payout ratio is 35.79%.

Shoe Carnival Company Profile

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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