Victory Capital Management Inc. Buys 25,617 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Key Points

• Victory Capital Management Inc. increased its stake in Shoe Carnival by 74.6%, owning approximately 0.22% of the company worth $1.32 million after acquiring an additional 25,617 shares.
• Shoe Carnival reported $0.34 EPS, exceeding expectations of $0.30, despite a 7.6% decline in quarterly revenue compared to the previous year.
• The company announced a quarterly dividend of $0.15 per share, reflecting an annualized yield of 2.87% and a payout ratio of 25.10%.

Victory Capital Management Inc. boosted its stake in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 74.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,947 shares of the company's stock after purchasing an additional 25,617 shares during the quarter. Victory Capital Management Inc. owned approximately 0.22% of Shoe Carnival worth $1,318,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Tectonic Advisors LLC lifted its position in Shoe Carnival by 79.4% in the 1st quarter. Tectonic Advisors LLC now owns 94,343 shares of the company's stock worth $2,075,000 after buying an additional 41,750 shares during the last quarter. CWM LLC grew its stake in Shoe Carnival by 188.3% in the first 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. Envestnet Asset Management Inc. grew its stake in Shoe Carnival by 7.1% in the first quarter. Envestnet Asset Management Inc. now owns 209,620 shares of the company's stock worth $4,610,000 after purchasing an additional 13,838 shares during the period. Principal Financial Group Inc. boosted its holdings in Shoe Carnival by 2.6% in the first quarter. Principal Financial Group Inc. now owns 97,677 shares of the company's stock worth $2,148,000 after acquiring an additional 2,496 shares in the last quarter. Finally, Sebold Capital Management Inc. boosted its holdings in Shoe Carnival by 11.2% in the first quarter. Sebold Capital Management Inc. now owns 21,576 shares of the company's stock worth $474,000 after acquiring an additional 2,172 shares in the last quarter. Institutional investors own 66.05% of the company's stock.

Shoe Carnival Stock Performance

Shares of NASDAQ:SCVL traded down $0.41 during midday trading on Friday, reaching $20.05. 363,469 shares of the company's stock traded hands, compared to its average volume of 346,781. The company has a market cap of $548.17 million, a price-to-earnings ratio of 8.39 and a beta of 1.46. Shoe Carnival, Inc. has a one year low of $16.14 and a one year high of $46.92. The stock has a 50 day moving average of $20.23 and a 200 day moving average of $21.37.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last posted its quarterly earnings data on Friday, May 30th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. The company had revenue of $277.72 million during the quarter, compared to analysts' expectations of $285.16 million. Shoe Carnival had a return on equity of 10.43% and a net margin of 5.58%. Shoe Carnival's revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Sell-side analysts predict that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were paid 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 yield of 3.0%. Shoe Carnival's dividend payout ratio is presently 25.10%.

Shoe Carnival 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.