Hodges Capital Management Inc. Sells 215,021 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Hodges Capital Management Inc. reduced its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 27.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 572,622 shares of the company’s stock after selling 215,021 shares during the period. Shoe Carnival comprises approximately 1.3% of Hodges Capital Management Inc.’s portfolio, making the stock its 19th biggest position. Hodges Capital Management Inc. owned about 2.11% of Shoe Carnival worth $20,981,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCVL. First Dallas Securities Inc. bought a new stake in Shoe Carnival during the 3rd quarter worth approximately $5,816,000. Soviero Asset Management LP increased its holdings in Shoe Carnival by 244.3% during the 4th quarter. Soviero Asset Management LP now owns 241,000 shares of the company’s stock worth $7,281,000 after purchasing an additional 171,000 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Shoe Carnival by 49.1% in the third quarter. Public Employees Retirement System of Ohio now owns 265,412 shares of the company’s stock valued at $6,378,000 after acquiring an additional 87,415 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Shoe Carnival by 60.0% in the third quarter. Envestnet Asset Management Inc. now owns 223,519 shares of the company’s stock valued at $5,371,000 after acquiring an additional 83,860 shares in the last quarter. Finally, Wasatch Advisors LP grew its holdings in shares of Shoe Carnival by 22.2% in the fourth quarter. Wasatch Advisors LP now owns 295,412 shares of the company’s stock valued at $8,924,000 after acquiring an additional 53,702 shares in the last quarter. 66.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SCVL has been the subject of several recent analyst reports. Monness Crespi & Hardt lowered Shoe Carnival from a “buy” rating to a “neutral” rating in a report on Tuesday, March 19th. Williams Trading upgraded Shoe Carnival from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Friday, March 22nd.

Insiders Place Their Bets

In other news, Director Andrea R. Guthrie sold 2,467 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $32.46, for a total value of $80,078.82. Following the transaction, the director now owns 20,106 shares of the company’s stock, valued at $652,640.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 34.70% of the company’s stock.

Shoe Carnival Price Performance

Shares of NASDAQ:SCVL traded up $0.06 during trading on Friday, hitting $36.89. 596,798 shares of the company were exchanged, compared to its average volume of 232,446. The company has a market cap of $1.00 billion, a PE ratio of 13.61 and a beta of 1.49. The stock has a 50 day moving average of $36.04 and a 200 day moving average of $32.32. Shoe Carnival, Inc. has a 52-week low of $19.87 and a 52-week high of $39.65.

Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Thursday, May 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. The firm had revenue of $300.37 million for the quarter, compared to the consensus estimate of $292.38 million. Shoe Carnival had a return on equity of 13.02% and a net margin of 6.20%. Sell-side analysts forecast that Shoe Carnival, Inc. will post 2.65 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be given a dividend of $0.135 per share. The ex-dividend date is Monday, July 8th. This represents a $0.54 annualized dividend and a dividend yield of 1.46%. Shoe Carnival’s dividend payout ratio is currently 19.93%.

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.