Cubist Systematic Strategies LLC Buys 192,494 Shares of Shoe Carnival, Inc. $SCVL

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Shoe Carnival, Inc. by 418.6% in the first quarter, owning 238,480 shares valued at approximately $5.24 million by the end of the quarter.
• Several institutional investors have also raised their stakes in Shoe Carnival, with notable increases from Hsbc Holdings PLC (76.7%) and Schonfeld Strategic Advisors LLC (148.3%) during the fourth quarter.
• Shoe Carnival recently announced a quarterly dividend of $0.15 per share, reflecting an annualized dividend of $0.60 and a yield of 2.8%.

Cubist Systematic Strategies LLC raised its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 418.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 238,480 shares of the company's stock after purchasing an additional 192,494 shares during the quarter. Cubist Systematic Strategies LLC owned 0.88% of Shoe Carnival worth $5,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of SCVL. NBC Securities Inc. grew its stake in shares of Shoe Carnival by 145,700.0% during the first quarter. NBC Securities Inc. now owns 1,458 shares of the company's stock valued at $32,000 after acquiring an additional 1,457 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of Shoe Carnival during the first quarter valued at about $33,000. GAMMA Investing LLC raised its position 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 in the last quarter. CWM LLC grew its position in Shoe Carnival by 188.3% during the 1st quarter. CWM LLC now owns 3,883 shares of the company's stock worth $85,000 after acquiring an additional 2,536 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Shoe Carnival by 1,025.8% in the first quarter. US Bancorp DE now owns 4,661 shares of the company's stock valued at $103,000 after purchasing an additional 4,247 shares in the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wall Street Zen cut shares of Shoe Carnival from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Seaport Res Ptn cut shares of Shoe Carnival from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, Zacks Research lowered shares of Shoe Carnival from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce".

Shoe Carnival Stock Down 0.8%

NASDAQ:SCVL traded down $0.18 on Tuesday, hitting $24.11. The stock had a trading volume of 122,075 shares, compared to its average volume of 492,365. The stock has a market cap of $659.06 million, a price-to-earnings ratio of 10.62 and a beta of 1.35. Shoe Carnival, Inc. has a 1-year low of $16.14 and a 1-year high of $46.92. The company has a fifty day moving average price of $21.33 and a two-hundred day moving average price of $20.39.

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 analysts' consensus estimates of $0.61 by $0.09. The company 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 quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. Shoe Carnival has set its FY 2025 guidance at 1.700-2.10 EPS. As a group, analysts anticipate that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Dividend Announcement

The company also recently declared 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. The ex-dividend date was Monday, July 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.5%. Shoe Carnival's payout ratio is 26.43%.

About Shoe Carnival

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.