Sonora Investment Management Group LLC Lowers Position in Shoe Carnival, Inc. $SCVL

Key Points

• Sonora Investment Management Group LLC has reduced its stake in Shoe Carnival, Inc. by 15.8%, now holding approximately 90,369 shares valued at $1.69 million.
• Shoe Carnival recently reported quarterly earnings of $0.70 EPS, exceeding expectations, but its revenue fell 7.9% from the same quarter last year.
• The company declared a quarterly dividend of $0.15 per share, yielding 2.8%, to be paid on October 20th to shareholders of record.

Sonora Investment Management Group LLC lowered its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 15.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,369 shares of the company's stock after selling 16,989 shares during the period. Sonora Investment Management Group LLC owned approximately 0.33% of Shoe Carnival worth $1,691,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SCVL. NBC Securities Inc. raised its holdings in shares of Shoe Carnival by 145,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,458 shares of the company's stock valued at $32,000 after acquiring an additional 1,457 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Shoe Carnival during the 1st quarter valued at about $33,000. GAMMA Investing LLC raised 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 valued at $55,000 after buying an additional 2,012 shares in the last quarter. CWM LLC raised its holdings in shares of Shoe Carnival by 188.3% during the 1st quarter. CWM LLC now owns 3,883 shares of the company's stock valued at $85,000 after buying an additional 2,536 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Shoe Carnival by 1,025.8% during the 1st quarter. US Bancorp DE now owns 4,661 shares of the company's stock valued at $103,000 after buying an additional 4,247 shares in the last quarter. Hedge funds and other institutional investors own 66.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SCVL shares. Zacks Research cut Shoe Carnival from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 26th. Seaport Res Ptn cut Shoe Carnival from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, Wall Street Zen raised Shoe Carnival from a "sell" rating to a "hold" rating in a report on Friday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce".

Shoe Carnival Price Performance

SCVL opened at $21.48 on Friday. The stock's 50 day simple moving average is $21.85 and its 200 day simple moving average is $20.46. Shoe Carnival, Inc. has a 1 year low of $16.14 and a 1 year high of $43.97. The firm has a market cap of $587.97 million, a price-to-earnings ratio of 9.46 and a beta of 1.35.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. Shoe Carnival had a return on equity of 9.65% and a net margin of 5.41%.The business had revenue of $306.39 million for the quarter, compared to analyst estimates of $318.31 million. During the same period last year, the company earned $0.83 EPS. Shoe Carnival's revenue for the quarter was down 7.9% compared to the same quarter last year. Shoe Carnival has set its FY 2025 guidance at 1.700-2.10 EPS. As a group, sell-side analysts anticipate that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Monday, October 6th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, October 6th. Shoe Carnival's dividend payout ratio (DPR) is presently 26.43%.

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.

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