Russell Investments Group Ltd. Increases Stake in Shoe Carnival, Inc. $SCVL

Key Points

• Russell Investments Group Ltd. increased its stake in Shoe Carnival by 30.1% in Q1, acquiring an additional 20,356 shares, bringing its total ownership to 87,880 shares valued at approximately $1.93 million.
• Shoe Carnival reported a net margin of 5.58% with earnings per share of $0.34, surpassing analysts' estimates, despite revenue declining 7.6% year-over-year.
• The company announced a quarterly dividend of $0.15 per share, yielding 2.8%, with a dividend payout ratio of 25.10%.

Russell Investments Group Ltd. boosted its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 30.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,880 shares of the company's stock after purchasing an additional 20,356 shares during the quarter. Russell Investments Group Ltd. owned about 0.32% of Shoe Carnival worth $1,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in SCVL. NBC Securities Inc. boosted its position in Shoe Carnival by 145,700.0% during the first quarter. NBC Securities Inc. now owns 1,458 shares of the company's stock valued at $32,000 after purchasing an additional 1,457 shares in the last quarter. Versant Capital Management Inc bought a new stake in Shoe Carnival during the first quarter valued at about $33,000. GAMMA Investing LLC boosted its position in Shoe Carnival by 404.0% during the first quarter. GAMMA Investing LLC now owns 2,510 shares of the company's stock valued at $55,000 after purchasing an additional 2,012 shares in the last quarter. CWM LLC boosted its position in Shoe Carnival by 188.3% during the first quarter. CWM LLC now owns 3,883 shares of the company's stock valued at $85,000 after purchasing an additional 2,536 shares in the last quarter. Finally, US Bancorp DE boosted its position in Shoe Carnival by 1,025.8% during the first quarter. US Bancorp DE now owns 4,661 shares of the company's stock valued at $103,000 after purchasing an additional 4,247 shares in the last quarter. Institutional investors own 66.05% of the company's stock.

Shoe Carnival Stock Down 1.0%

Shares of Shoe Carnival stock traded down $0.22 on Friday, reaching $20.90. 344,496 shares of the stock were exchanged, compared to its average volume of 355,838. Shoe Carnival, Inc. has a twelve month low of $16.14 and a twelve month high of $46.92. The firm has a market capitalization of $571.41 million, a price-to-earnings ratio of 8.74 and a beta of 1.46. The business has a 50 day moving average price of $20.83 and a two-hundred day moving average price of $20.46.

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

Shoe Carnival Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.9%. Shoe Carnival's payout ratio is 25.10%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Zacks Research downgraded Shoe Carnival from a "hold" rating to a "strong sell" rating in a research report on Tuesday. Seaport Res Ptn downgraded Shoe Carnival from a "strong-buy" rating to a "hold" rating in a report on Tuesday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Shoe Carnival currently has a consensus rating of "Reduce".

Shoe Carnival Company 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.