Soviero Asset Management LP Acquires Shares of 50,563 Shoe Carnival, Inc. (NASDAQ:SCVL)

Soviero Asset Management LP purchased a new stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 50,563 shares of the company's stock, valued at approximately $1,673,000. Soviero Asset Management LP owned 0.19% of Shoe Carnival at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SCVL. Franklin Resources Inc. purchased a new position in shares of Shoe Carnival in the 3rd quarter valued at $530,000. SG Americas Securities LLC purchased a new stake in shares of Shoe Carnival in the fourth quarter worth about $178,000. Sonora Investment Management Group LLC boosted its position in shares of Shoe Carnival by 35.6% in the fourth quarter. Sonora Investment Management Group LLC now owns 49,956 shares of the company's stock worth $1,653,000 after buying an additional 13,115 shares during the period. Copeland Capital Management LLC boosted its position in shares of Shoe Carnival by 2.5% in the fourth quarter. Copeland Capital Management LLC now owns 1,204,443 shares of the company's stock worth $39,843,000 after buying an additional 29,280 shares during the period. Finally, Hodges Capital Management Inc. boosted its position in shares of Shoe Carnival by 20.0% in the fourth quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company's stock worth $19,236,000 after buying an additional 96,753 shares during the period. Hedge funds and other institutional investors own 66.05% of the company's stock.

Shoe Carnival Stock Down 3.6%

Shares of NASDAQ SCVL traded down $0.71 on Friday, hitting $18.80. The company had a trading volume of 301,309 shares, compared to its average volume of 393,449. Shoe Carnival, Inc. has a 12-month low of $16.14 and a 12-month high of $46.92. The business has a 50 day moving average of $19.40 and a two-hundred day moving average of $26.28. The firm has a market capitalization of $513.84 million, a P/E ratio of 6.91 and a beta of 1.41.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The company had revenue of $262.90 million during the quarter, compared to the consensus estimate of $277.89 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company's revenue was down 6.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a $0.15 dividend. This is a boost from Shoe Carnival's previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, April 7th. This represents a $0.60 annualized dividend and a dividend yield of 3.19%. Shoe Carnival's payout ratio is 22.39%.

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.