Sei Investments Co. Buys 63,912 Shares of Shoe Carnival, Inc. $SHOE

Key Points

• Sei Investments increased its Shoe Carnival stake by 69.7% in the first quarter, acquiring 63,912 additional shares for a total of 155,660 shares worth approximately $2.43 million. Institutional investors and hedge funds collectively own 66.05% of the company.
• Analyst sentiment remains positive but cautious: Shoe Carnival has a consensus “Moderate Buy” rating and an average price target of $22, while recent ratings included one Strong Buy and two Holds.
• Shoe Carnival reported quarterly revenue of $270.73 million and earnings of $0.23 per share. The company also maintains a quarterly dividend of $0.17 per share, equivalent to a 4.3% annualized yield.

Sei Investments Co. raised its position in Shoe Carnival, Inc. (NASDAQ:SHOE - Free Report) by 69.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 155,660 shares of the company's stock after purchasing an additional 63,912 shares during the period. Sei Investments Co. owned 0.57% of Shoe Carnival worth $2,427,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the stock. ProShare Advisors LLC increased its stake in Shoe Carnival by 33.1% during the 4th quarter. ProShare Advisors LLC now owns 340,912 shares of the company's stock valued at $5,755,000 after purchasing an additional 84,861 shares in the last quarter. Meros Investment Management LP bought a new stake in shares of Shoe Carnival during the 4th quarter valued at $7,007,000. Hsbc Holdings PLC increased its holdings in Shoe Carnival by 123.5% during the 4th quarter. Hsbc Holdings PLC now owns 81,871 shares of the company's stock worth $1,392,000 after acquiring an additional 45,246 shares during the period. Royce & Associates LP raised its position in shares of Shoe Carnival by 38.6% in the fourth quarter. Royce & Associates LP now owns 577,201 shares of the company's stock worth $9,743,000 after buying an additional 160,747 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Shoe Carnival by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,651,332 shares of the company's stock valued at $25,744,000 after acquiring an additional 44,759 shares during the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SHOE shares. Zacks Research cut Shoe Carnival from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 12th. Weiss Ratings assumed coverage on shares of Shoe Carnival in a report on Monday, June 15th. They issued a "hold (c-)" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.00.

Shoe Carnival Price Performance

Shares of SHOE opened at $15.75 on Friday. Shoe Carnival, Inc. has a one year low of $14.00 and a one year high of $26.57. The firm has a market capitalization of $427.61 million, a P/E ratio of 11.67 and a beta of 1.43.

Shoe Carnival (NASDAQ:SHOE - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The company reported $0.23 EPS for the quarter. Shoe Carnival had a return on equity of 7.24% and a net margin of 3.31%.The firm had revenue of $270.73 million during the quarter. Equities research analysts predict that Shoe Carnival, Inc. will post 1.5 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.68 dividend on an annualized basis and a yield of 4.3%. Shoe Carnival's dividend payout ratio is presently 50.37%.

Shoe Carnival Company Profile

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.

Want to see what other hedge funds are holding SHOE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shoe Carnival, Inc. (NASDAQ:SHOE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source