Pacer Advisors Inc. Makes New Investment in Shoe Carnival, Inc. (NASDAQ:SCVL)

Key Points

• Pacer Advisors Inc. has made a new investment of approximately $4.94 million in Shoe Carnival by acquiring 224,451 shares, representing a 0.83% ownership stake in the company.
• Shoe Carnival reported quarterly earnings of $0.34 per share, surpassing analyst estimates of $0.30, although revenue was down 7.6% year-over-year.
• The company has announced a quarterly dividend of $0.15 per share, translating to an annualized yield of 2.68% on its stock.

Pacer Advisors Inc. bought a new stake in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 224,451 shares of the company's stock, valued at approximately $4,936,000. Pacer Advisors Inc. owned approximately 0.83% of Shoe Carnival as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Copeland Capital Management LLC increased its holdings in shares of 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 in the last quarter. Vanguard Group Inc. grew its position in shares of Shoe Carnival by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,397,109 shares of the company's stock valued at $46,216,000 after purchasing an additional 8,826 shares during the last quarter. Invesco Ltd. grew its position in shares of Shoe Carnival by 10.1% in the fourth quarter. Invesco Ltd. now owns 880,047 shares of the company's stock valued at $29,112,000 after purchasing an additional 80,871 shares during the last quarter. New South Capital Management Inc. increased its stake in shares of Shoe Carnival by 189.9% during the 1st quarter. New South Capital Management Inc. now owns 699,824 shares of the company's stock worth $15,389,000 after purchasing an additional 458,412 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Shoe Carnival by 7.4% during the 4th quarter. American Century Companies Inc. now owns 547,366 shares of the company's stock worth $18,107,000 after purchasing an additional 37,569 shares in the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Shoe Carnival Stock Performance

SCVL stock traded down $0.42 on Friday, reaching $20.04. The company had a trading volume of 129,666 shares, compared to its average volume of 498,412. The company's fifty day moving average is $20.21 and its 200 day moving average is $21.50. The company has a market cap of $547.89 million, a P/E ratio of 8.39 and a beta of 1.37. Shoe Carnival, Inc. has a 1 year low of $16.14 and a 1 year high of $46.92.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last posted its quarterly earnings data on Friday, May 30th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. The business had revenue of $277.72 million for the quarter, compared to analyst estimates of $285.16 million. Shoe Carnival had a return on equity of 10.43% and a net margin of 5.58%. The business's revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. On average, sell-side analysts predict that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Announces Dividend

The firm also recently declared 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, July 7th. Shoe Carnival's dividend payout ratio is currently 25.10%.

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.