Shoe Carnival, Inc. (NASDAQ:SCVL) Shares Bought by Pinnacle Associates Ltd.

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. grew its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 68.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,339 shares of the company's stock after buying an additional 17,604 shares during the period. Pinnacle Associates Ltd. owned 0.16% of Shoe Carnival worth $953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. NBC Securities Inc. raised its holdings in Shoe Carnival by 145,700.0% in the first quarter. NBC Securities Inc. now owns 1,458 shares of the company's stock worth $32,000 after purchasing an additional 1,457 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Shoe Carnival during the 1st quarter worth approximately $33,000. GAMMA Investing LLC grew its stake 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. CWM LLC grew its stake in shares of Shoe Carnival by 188.3% during the 1st quarter. CWM LLC now owns 3,883 shares of the company's stock worth $85,000 after purchasing an additional 2,536 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Shoe Carnival in the 4th quarter valued at $99,000. Institutional investors own 66.05% of the company's stock.

Shoe Carnival Stock Performance

Shoe Carnival stock traded down $0.31 during trading on Thursday, reaching $20.61. The company had a trading volume of 87,253 shares, compared to its average volume of 499,408. The firm's 50-day simple moving average is $20.19 and its 200 day simple moving average is $21.57. Shoe Carnival, Inc. has a 1-year low of $16.14 and a 1-year high of $46.92. The firm has a market capitalization of $563.39 million, a PE ratio of 8.60 and a beta of 1.37.

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 (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. The firm had revenue of $277.72 million for the quarter, compared to analyst estimates of $285.16 million. Shoe Carnival had a net margin of 5.58% and a return on equity of 10.43%. Shoe Carnival's revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. Analysts anticipate that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date 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.