Empowered Funds LLC Raises Holdings in Shoe Carnival, Inc. (NASDAQ:SCVL)

Empowered Funds LLC lifted its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 5.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 129,459 shares of the company’s stock after purchasing an additional 6,566 shares during the quarter. Empowered Funds LLC owned about 0.48% of Shoe Carnival worth $5,677,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SCVL. Pinnacle Associates Ltd. raised its holdings in shares of Shoe Carnival by 69.2% in the third quarter. Pinnacle Associates Ltd. now owns 46,540 shares of the company’s stock worth $2,041,000 after buying an additional 19,030 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Shoe Carnival by 11.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 15,369 shares of the company’s stock valued at $562,000 after purchasing an additional 1,562 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Shoe Carnival during the 1st quarter valued at about $383,000. Creative Planning acquired a new position in shares of Shoe Carnival in the second quarter valued at about $281,000. Finally, Sei Investments Co. raised its stake in shares of Shoe Carnival by 16.1% in the first quarter. Sei Investments Co. now owns 52,221 shares of the company’s stock worth $1,914,000 after purchasing an additional 7,232 shares during the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Williams Trading increased their price target on shares of Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, August 29th.

Shoe Carnival Stock Down 4.2 %

Shares of SCVL stock opened at $35.38 on Friday. The stock has a market cap of $961.27 million, a PE ratio of 12.55 and a beta of 1.56. Shoe Carnival, Inc. has a 52-week low of $21.50 and a 52-week high of $46.92. The business has a 50-day simple moving average of $39.40 and a 200-day simple moving average of $38.70.

Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Thursday, September 5th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. The firm had revenue of $332.70 million during the quarter, compared to analyst estimates of $331.45 million. Shoe Carnival had a net margin of 6.26% and a return on equity of 13.26%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. Sell-side analysts anticipate that Shoe Carnival, Inc. will post 2.65 earnings per share for the current fiscal year.

Shoe Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a dividend of $0.135 per share. The ex-dividend date was Monday, October 7th. This represents a $0.54 dividend on an annualized basis and a yield of 1.53%. Shoe Carnival’s dividend payout ratio is currently 19.15%.

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.