First Eagle Investment Management LLC Sells 40,301 Shares of Shoe Carnival, Inc. $SCVL

First Eagle Investment Management LLC cut its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL) by 11.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,384 shares of the company’s stock after selling 40,301 shares during the quarter. First Eagle Investment Management LLC owned 1.15% of Shoe Carnival worth $5,882,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Voya Investment Management LLC grew its stake in shares of Shoe Carnival by 99.6% in the first quarter. Voya Investment Management LLC now owns 20,547 shares of the company’s stock worth $452,000 after acquiring an additional 10,251 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Shoe Carnival by 31.8% in the second quarter. Exchange Traded Concepts LLC now owns 63,123 shares of the company’s stock worth $1,181,000 after purchasing an additional 15,241 shares during the last quarter. Northern Trust Corp grew its position in Shoe Carnival by 8.5% in the 1st quarter. Northern Trust Corp now owns 550,844 shares of the company’s stock worth $12,113,000 after purchasing an additional 43,183 shares during the period. Copeland Capital Management LLC raised its stake in Shoe Carnival by 22.8% during the 2nd quarter. Copeland Capital Management LLC now owns 1,718,101 shares of the company’s stock valued at $32,146,000 after buying an additional 318,771 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Shoe Carnival by 74.6% during the 1st quarter. Victory Capital Management Inc. now owns 59,947 shares of the company’s stock valued at $1,318,000 after buying an additional 25,617 shares during the period. Institutional investors own 66.05% of the company’s stock.

Insider Transactions at Shoe Carnival

In related news, Director Andrea R. Guthrie sold 2,477 shares of Shoe Carnival stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $20.20, for a total transaction of $50,035.40. Following the sale, the director owned 24,405 shares of the company’s stock, valued at approximately $492,981. This trade represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 35.50% of the company’s stock.

Shoe Carnival Price Performance

Shares of NASDAQ SCVL opened at $17.40 on Friday. The stock has a market cap of $476.29 million, a PE ratio of 7.67 and a beta of 1.35. Shoe Carnival, Inc. has a 1 year low of $16.14 and a 1 year high of $39.29. The firm has a fifty day moving average price of $20.88 and a 200-day moving average price of $20.30.

Shoe Carnival (NASDAQ:SCVL) last released its earnings results on Thursday, September 4th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. Shoe Carnival had a net margin of 5.41% and a return on equity of 9.65%. The company had revenue of $306.39 million for the quarter, compared to analysts’ expectations of $318.31 million. During the same quarter in the previous year, the company earned $0.83 EPS. Shoe Carnival’s revenue for the quarter was down 7.9% on a year-over-year basis. Shoe Carnival has set its FY 2025 guidance at 1.700-2.10 EPS. On average, research analysts expect that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Monday, October 6th were given a dividend of $0.15 per share. The ex-dividend date was Monday, October 6th. This represents a $0.60 annualized dividend and a dividend yield of 3.4%. Shoe Carnival’s dividend payout ratio (DPR) is currently 26.43%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SCVL. Seaport Res Ptn lowered Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shoe Carnival in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Shoe Carnival from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Wall Street Zen upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Shoe Carnival has a consensus rating of “Moderate Buy”.

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.