Denali Advisors LLC Takes $1.07 Million Position in Shoe Carnival, Inc. $SHOE

Key Points

• Denali Advisors LLC acquired 72,422 Shoe Carnival shares worth approximately $1.07 million, representing about 0.27% of the company. Institutional investors collectively own 66.05% of SHOE.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $22, although Zacks Research and Weiss Ratings assigned hold-related ratings.
• Shoe Carnival shares opened at $15.29, near their 52-week low of $14.00. The company reported quarterly EPS of $0.23, revenue of $270.73 million, and recently paid a $0.17 quarterly dividend, implying a 4.4% annualized yield.

Denali Advisors LLC acquired a new stake in shares of Shoe Carnival, Inc. (NASDAQ:SHOE - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 72,422 shares of the company's stock, valued at approximately $1,074,000. Denali Advisors LLC owned approximately 0.27% of Shoe Carnival at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SHOE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Shoe Carnival by 1.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,157 shares of the company's stock worth $661,000 after buying an additional 549 shares during the last quarter. Huntington National Bank raised its position in Shoe Carnival by 45.5% during the 4th quarter. Huntington National Bank now owns 2,169 shares of the company's stock worth $37,000 after buying an additional 678 shares during the last quarter. Prudential Financial Inc. grew its position in Shoe Carnival by 6.1% during the 2nd quarter. Prudential Financial Inc. now owns 18,768 shares of the company's stock worth $351,000 after purchasing an additional 1,072 shares during the period. Global Retirement Partners LLC purchased a new position in Shoe Carnival during the fourth quarter valued at approximately $28,000. Finally, Legal & General Group Plc grew its position in Shoe Carnival by 4.5% during the second quarter. Legal & General Group Plc now owns 46,758 shares of the company's stock valued at $875,000 after buying an additional 1,998 shares during the period. Hedge funds and other institutional investors own 66.05% of the company's stock.

Wall Street Analyst Weigh In

SHOE has been the subject of several research analyst reports. Zacks Research downgraded shares of Shoe Carnival from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. Weiss Ratings started coverage on shares of Shoe Carnival in a report on Monday, June 15th. They set a "hold (c-)" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Shoe Carnival presently has a consensus rating of "Moderate Buy" and an average price target of $22.00.

Shoe Carnival Price Performance

Shares of NASDAQ SHOE opened at $15.29 on Friday. Shoe Carnival, Inc. has a 52 week low of $14.00 and a 52 week high of $26.57. The firm has a market capitalization of $415.12 million, a PE ratio of 11.33 and a beta of 1.43. The company has a 50-day moving average of $15.38.

Shoe Carnival (NASDAQ:SHOE - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The company reported $0.23 earnings per share for the quarter. The company had revenue of $270.73 million for the quarter. Shoe Carnival had a net margin of 3.31% and a return on equity of 7.24%. Research analysts forecast that Shoe Carnival, Inc. will post 1.5 earnings per share for the current fiscal year.

Shoe Carnival Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Monday, July 6th. Shoe Carnival's payout ratio is presently 50.37%.

Shoe Carnival 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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