Empowered Funds LLC bought a new stake in shares of Shoe Carnival, Inc. (NASDAQ:SHOE - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 113,428 shares of the company's stock, valued at approximately $1,682,000. Empowered Funds LLC owned about 0.42% of Shoe Carnival at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the stock. Global Retirement Partners LLC acquired a new stake in Shoe Carnival in the fourth quarter valued at $28,000. Huntington National Bank boosted its stake in Shoe Carnival by 45.5% during the 4th quarter. Huntington National Bank now owns 2,169 shares of the company's stock valued at $37,000 after acquiring an additional 678 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Shoe Carnival during the 4th quarter worth $44,000. Legal & General Group Plc acquired a new position in Shoe Carnival during the 2nd quarter worth $56,000. Finally, State of Wyoming bought a new stake in shares of Shoe Carnival in the 2nd quarter worth about $61,000. Institutional investors and hedge funds own 66.05% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on SHOE shares. Zacks Research lowered shares of Shoe Carnival from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 12th. Weiss Ratings assumed coverage on Shoe Carnival in a research note on Monday, June 15th. They issued a "hold (c-)" rating for the company. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Shoe Carnival has an average rating of "Moderate Buy" and a consensus target price of $22.00.
Read Our Latest Stock Report on Shoe Carnival
Shoe Carnival Trading Up 1.2%
SHOE stock opened at $13.65 on Friday. The company has a market capitalization of $370.60 million, a price-to-earnings ratio of 10.11 and a beta of 1.40. Shoe Carnival, Inc. has a 1-year low of $12.78 and a 1-year high of $26.57. The company's fifty day simple moving average is $15.03.
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 (EPS) for the quarter. Shoe Carnival had a net margin of 3.31% and a return on equity of 7.24%. The company had revenue of $270.73 million for the quarter. As a group, equities research analysts predict that Shoe Carnival, Inc. will post 1.5 earnings per share for the current fiscal year.
Shoe Carnival Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 6th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.68 dividend on an annualized basis and a yield of 5.0%. Shoe Carnival's dividend payout ratio (DPR) is currently 50.37%.
Shoe Carnival Company Profile
(
Free Report)
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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