Jefferies Financial Group Inc. Takes Position in Shoe Carnival, Inc. $SHOE

Key Points

• Jefferies Financial Group acquired 108,300 Shoe Carnival shares worth approximately $1.6 million, giving it a roughly 0.40% stake. Institutional and hedge-fund investors collectively own 66.05% of the company.
• Analyst sentiment is mixed but remains a consensus “Moderate Buy,” with an average price target of $22.00; recent ratings included downgrades to “Hold.”
• Shoe Carnival shares opened at $13.69, near their 12-month low of $13.55. The company reported quarterly EPS of $0.23 and maintains a quarterly dividend of $0.17 per share, representing a 5.0% yield.

Jefferies Financial Group Inc. bought a new position in shares of Shoe Carnival, Inc. (NASDAQ:SHOE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 108,300 shares of the company's stock, valued at approximately $1,606,000. Jefferies Financial Group Inc. owned about 0.40% of Shoe Carnival at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in shares of Shoe Carnival in the fourth quarter worth $28,000. Huntington National Bank grew its holdings in shares of Shoe Carnival by 45.5% during the fourth quarter. Huntington National Bank now owns 2,169 shares of the company's stock valued at $37,000 after buying an additional 678 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Shoe Carnival during the fourth quarter valued at $44,000. Legal & General Group Plc acquired a new position in shares of Shoe Carnival in the 2nd quarter valued at $56,000. Finally, State of Wyoming purchased a new position in Shoe Carnival in the 2nd quarter worth $61,000. 66.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SHOE. Zacks Research downgraded Shoe Carnival from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 12th. Weiss Ratings started coverage on shares of Shoe Carnival in a research note on Monday, June 15th. They issued a "hold (c-)" rating on the stock. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.00.

Shoe Carnival Stock Performance

Shares of SHOE opened at $13.69 on Friday. The firm has a market capitalization of $371.68 million, a price-to-earnings ratio of 10.14 and a beta of 1.43. The firm has a 50 day simple moving average of $15.22. Shoe Carnival, Inc. has a 12 month low of $13.55 and a 12 month high of $26.57.

Shoe Carnival (NASDAQ:SHOE - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The company reported $0.23 earnings per share (EPS) for the quarter. The firm 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%. On average, analysts anticipate that Shoe Carnival, Inc. will post 1.5 earnings per share for the current fiscal year.

Shoe Carnival Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Monday, July 6th. Shoe Carnival's dividend payout ratio is 50.37%.

About Shoe Carnival

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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