Pacific Ridge Capital Partners LLC bought a new position in Shoe Carnival, Inc. (NASDAQ:SCVL – Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 152,404 shares of the company’s stock, valued at approximately $2,573,000. Pacific Ridge Capital Partners LLC owned approximately 0.56% of Shoe Carnival as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank increased its holdings in shares of Shoe Carnival by 164.8% during the 3rd quarter. Huntington National Bank now owns 1,491 shares of the company’s stock valued at $31,000 after purchasing an additional 928 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Shoe Carnival by 305.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,029 shares of the company’s stock worth $42,000 after purchasing an additional 1,528 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Shoe Carnival by 66.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,005 shares of the company’s stock worth $146,000 after buying an additional 2,809 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Shoe Carnival in the second quarter valued at about $146,000. Finally, Rafferty Asset Management LLC purchased a new position in shares of Shoe Carnival in the second quarter worth about $188,000. Institutional investors and hedge funds own 66.05% of the company’s stock.
Insider Buying and Selling at Shoe Carnival
In other news, CFO W Kerry Jackson acquired 31,000 shares of Shoe Carnival stock in a transaction that occurred on Thursday, April 2nd. The shares were acquired at an average price of $16.13 per share, with a total value of $500,030.00. Following the completion of the purchase, the chief financial officer owned 215,529 shares of the company’s stock, valued at approximately $3,476,482.77. This represents a 16.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 33.60% of the stock is currently owned by corporate insiders.
Shoe Carnival Trading Down 5.1%
Shoe Carnival (NASDAQ:SCVL – Get Free Report) last posted its earnings results on Thursday, March 26th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. Shoe Carnival had a return on equity of 7.75% and a net margin of 4.60%.The firm had revenue of $254.07 million for the quarter, compared to analyst estimates of $255.83 million. During the same quarter in the prior year, the company earned $0.54 EPS. Shoe Carnival’s revenue was down 3.3% on a year-over-year basis. As a group, research analysts expect that Shoe Carnival, Inc. will post 1.5 earnings per share for the current year.
Shoe Carnival Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Monday, April 6th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, April 6th. This represents a $0.68 annualized dividend and a dividend yield of 4.0%. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.15. Shoe Carnival’s dividend payout ratio is 35.79%.
Analysts Set New Price Targets
Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Shoe Carnival in a report on Friday, March 27th. Williams Trading set a $22.00 price objective on Shoe Carnival in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.00.
View Our Latest Analysis on Shoe Carnival
About Shoe Carnival
Shoe Carnival, Inc (NASDAQ: SCVL) is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.
Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.
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