Victory Capital Management Inc. Boosts Stake in 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. grew its stake in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 74.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Sei Investments Co. lifted its holdings in shares of Shoe Carnival by 0.8% in the fourth quarter. Sei Investments Co. now owns 56,940 shares of the company's stock valued at $1,884,000 after purchasing an additional 437 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Shoe Carnival by 5.8% during the fourth quarter. Sterling Capital Management LLC now owns 9,284 shares of the company's stock valued at $307,000 after acquiring an additional 511 shares during the last quarter. North Star Investment Management Corp. increased its position in shares of Shoe Carnival by 1.4% during the first quarter. North Star Investment Management Corp. now owns 55,892 shares of the company's stock valued at $1,229,000 after acquiring an additional 750 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Shoe Carnival by 17.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,795 shares of the company's stock valued at $225,000 after acquiring an additional 987 shares during the last quarter. Finally, Snowden Capital Advisors LLC increased its position in shares of Shoe Carnival by 9.1% during the fourth quarter. Snowden Capital Advisors LLC now owns 13,447 shares of the company's stock valued at $445,000 after acquiring an additional 1,123 shares during the last quarter. Institutional investors own 66.05% of the company's stock.

Shoe Carnival Trading Down 2.0%

Shares of SCVL traded down $0.41 on Friday, reaching $20.05. 363,469 shares of the company's stock traded hands, compared to its average volume of 500,082. The stock has a market cap of $548.17 million, a PE ratio of 8.39 and a beta of 1.37. The stock's 50 day simple moving average is $20.21 and its two-hundred day simple moving average is $21.50. Shoe Carnival, Inc. has a 52-week low of $16.14 and a 52-week high of $46.92.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last released its earnings results on Friday, May 30th. The company reported $0.34 earnings per share (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 business had revenue of $277.72 million during the quarter, compared to the consensus estimate of $285.16 million. During the same period last year, the business posted $0.64 earnings per share. The business's revenue for the quarter was down 7.6% on a year-over-year basis. Analysts forecast that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, July 7th. Shoe Carnival's dividend payout ratio (DPR) is presently 25.10%.

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.