Hodges Capital Management Inc. Sells 196,768 Shares of Shoe Carnival, Inc. $SCVL

Key Points

• Hodges Capital Management Inc. has reduced its stake in Shoe Carnival, Inc. by 33.8%, selling 196,768 shares during the first quarter, now holding 384,740 shares.
• Shoe Carnival's latest earnings report showed an EPS of $0.70, beating analyst expectations, but revenue fell 7.9% year-over-year to $306.39 million.
• The company recently announced a quarterly dividend of $0.15 per share, providing a 2.5% yield with a payout ratio of 26.43%.

Hodges Capital Management Inc. cut its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 33.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 384,740 shares of the company's stock after selling 196,768 shares during the period. Hodges Capital Management Inc. owned 1.41% of Shoe Carnival worth $8,460,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Empowered Funds LLC increased its stake in shares of Shoe Carnival by 3.0% during the 1st quarter. Empowered Funds LLC now owns 140,151 shares of the company's stock worth $3,082,000 after purchasing an additional 4,108 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Shoe Carnival during the 1st quarter worth about $751,000. Millennium Management LLC grew its stake in Shoe Carnival by 215.9% in the 1st quarter. Millennium Management LLC now owns 321,764 shares of the company's stock valued at $7,076,000 after buying an additional 219,918 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Shoe Carnival in the 1st quarter valued at about $1,386,000. Finally, Bridgeway Capital Management LLC grew its stake in Shoe Carnival by 1.7% in the 1st quarter. Bridgeway Capital Management LLC now owns 244,651 shares of the company's stock valued at $5,380,000 after buying an additional 4,108 shares during the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Zacks Research lowered shares of Shoe Carnival from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 26th. Wall Street Zen lowered shares of Shoe Carnival from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Finally, Seaport Res Ptn lowered shares of Shoe Carnival from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce".

Shoe Carnival Trading Up 0.8%

NASDAQ SCVL traded up $0.19 during trading on Wednesday, reaching $23.42. The company's stock had a trading volume of 78,249 shares, compared to its average volume of 489,939. The firm has a 50 day moving average price of $21.63 and a 200 day moving average price of $20.46. Shoe Carnival, Inc. has a 12 month low of $16.14 and a 12 month high of $46.92. The firm has a market capitalization of $640.87 million, a price-to-earnings ratio of 10.30 and a beta of 1.35.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.09. Shoe Carnival had a net margin of 5.41% and a return on equity of 9.65%. The company had revenue of $306.39 million during the quarter, compared to the consensus estimate of $318.31 million. During the same quarter in the prior year, the firm posted $0.83 EPS. The firm's quarterly revenue was down 7.9% on a year-over-year basis. Shoe Carnival has set its FY 2025 guidance at 1.700-2.10 EPS. On average, equities analysts forecast that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.60 annualized dividend and a yield of 2.6%. Shoe Carnival's dividend payout ratio is presently 26.43%.

Shoe Carnival Company 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.