Invesco Ltd. Sells 49,450 Shares of Shoe Carnival, Inc. $SCVL

Key Points

• Invesco Ltd. has decreased its stake in Shoe Carnival, Inc. by 5.6%, selling 49,450 shares and holding approximately 3.06% of the company, valued at $18.26 million.
• Shoe Carnival reported a quarterly earnings per share (EPS) of $0.34, surpassing analysts' expectations of $0.30, despite a 7.6% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.15 per share with a dividend yield of 2.9%, reflecting a payout ratio of 25.10%.

Invesco Ltd. decreased its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 830,597 shares of the company's stock after selling 49,450 shares during the quarter. Invesco Ltd. owned about 3.06% of Shoe Carnival worth $18,265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the business. Copeland Capital Management LLC grew its position in Shoe Carnival by 16.2% in the 1st quarter. Copeland Capital Management LLC now owns 1,399,330 shares of the company's stock valued at $30,771,000 after purchasing an additional 194,887 shares during the period. New South Capital Management Inc. grew its position in Shoe Carnival by 189.9% in the 1st quarter. New South Capital Management Inc. now owns 699,824 shares of the company's stock valued at $15,389,000 after purchasing an additional 458,412 shares during the period. Northern Trust Corp grew its position in Shoe Carnival by 4.7% in the 4th quarter. Northern Trust Corp now owns 507,661 shares of the company's stock valued at $16,793,000 after purchasing an additional 22,859 shares during the period. Bridgeway Capital Management LLC grew its position in Shoe Carnival by 2.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 240,543 shares of the company's stock valued at $7,957,000 after purchasing an additional 6,584 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Shoe Carnival by 8.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 234,776 shares of the company's stock valued at $5,163,000 after purchasing an additional 19,225 shares during the period. Institutional investors and hedge funds own 66.05% of the company's stock.

Shoe Carnival Stock Up 3.2%

NASDAQ:SCVL traded up $0.69 during trading hours on Wednesday, hitting $21.99. 373,750 shares of the company traded hands, compared to its average volume of 336,191. The firm's 50-day simple moving average is $20.76 and its 200-day simple moving average is $20.52. Shoe Carnival, Inc. has a one year low of $16.14 and a one year high of $46.92. The company has a market cap of $601.21 million, a PE ratio of 9.20 and a beta of 1.46.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last issued its quarterly earnings data on Friday, May 30th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. Shoe Carnival had a return on equity of 10.43% and a net margin of 5.58%.The business had revenue of $277.72 million for the quarter, compared to analysts' expectations of $285.16 million. During the same period last year, the business earned $0.64 EPS. The business's revenue was down 7.6% on a year-over-year basis. Shoe Carnival has set its FY 2025 guidance at 1.600-2.10 EPS. As a group, equities research analysts expect that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, July 7th. This represents a $0.60 annualized dividend and a yield of 2.7%. Shoe Carnival's dividend payout ratio (DPR) is 25.10%.

Wall Street Analysts Forecast Growth

Separately, Seaport Res Ptn downgraded shares of Shoe Carnival from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $51.00.

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.