Pinnacle Associates Ltd. Has $953,000 Stock Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Key Points

• Pinnacle Associates Ltd. increased its stake in Shoe Carnival, Inc. by 68.4% in the first quarter, owning approximately 0.16% of the company, valued at $953,000.
• Shoe Carnival reported an EPS of $0.34 for the quarter, surpassing estimates, but experienced a 7.6% revenue decline year-over-year.
• The company also declared a dividend of $0.15 per share with a current yield of 2.69%, reflecting a modest payout ratio of 25.10%.

Pinnacle Associates Ltd. increased its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 68.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,339 shares of the company's stock after acquiring an additional 17,604 shares during the quarter. Pinnacle Associates Ltd. owned about 0.16% of Shoe Carnival worth $953,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SCVL. GAMMA Investing LLC increased its holdings in shares of Shoe Carnival by 404.0% during the 1st quarter. GAMMA Investing LLC now owns 2,510 shares of the company's stock worth $55,000 after purchasing an additional 2,012 shares during the period. Barclays PLC grew its position in Shoe Carnival by 13.8% during the fourth quarter. Barclays PLC now owns 34,533 shares of the company's stock worth $1,143,000 after buying an additional 4,191 shares in the last quarter. Renaissance Technologies LLC increased its stake in Shoe Carnival by 219.0% during the fourth quarter. Renaissance Technologies LLC now owns 148,868 shares of the company's stock valued at $4,925,000 after acquiring an additional 102,200 shares during the period. SG Americas Securities LLC raised its holdings in Shoe Carnival by 309.3% in the 1st quarter. SG Americas Securities LLC now owns 22,026 shares of the company's stock valued at $484,000 after acquiring an additional 16,645 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Shoe Carnival in the 4th quarter valued at approximately $1,075,000. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Shoe Carnival Trading Up 0.9%

Shares of NASDAQ:SCVL opened at $22.28 on Monday. The firm has a market capitalization of $609.14 million, a PE ratio of 9.32 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. The business's 50 day moving average is $20.09 and its 200-day moving average is $21.63.

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

Shoe Carnival Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.69%. Shoe Carnival's payout ratio is currently 25.10%.

Shoe Carnival 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.

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