Summit Global Investments Acquires Shares of 6,626 Shoe Carnival, Inc. (NASDAQ:SCVL)

Summit Global Investments acquired a new stake in Shoe Carnival, Inc. (NASDAQ:SCVL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,626 shares of the company’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SRS Capital Advisors Inc. increased its stake in Shoe Carnival by 392.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,300 shares of the company’s stock worth $39,000 after purchasing an additional 1,036 shares during the period. Maryland State Retirement & Pension System acquired a new stake in shares of Shoe Carnival during the first quarter worth $240,000. EMC Capital Management lifted its stake in shares of Shoe Carnival by 11.9% in the first quarter. EMC Capital Management now owns 7,468 shares of the company’s stock valued at $274,000 after purchasing an additional 793 shares during the period. BOKF NA purchased a new position in shares of Shoe Carnival during the 1st quarter worth approximately $308,000. Finally, Louisiana State Employees Retirement System purchased a new stake in Shoe Carnival during the 4th quarter worth about $272,000. 66.05% of the stock is owned by institutional investors and hedge funds.

Shoe Carnival Price Performance

SCVL stock traded up $0.48 during midday trading on Wednesday, hitting $43.24. The stock had a trading volume of 56,624 shares, compared to its average volume of 202,216. The firm has a market cap of $1.17 billion, a PE ratio of 15.98 and a beta of 1.49. Shoe Carnival, Inc. has a 12-month low of $19.87 and a 12-month high of $44.48. The company’s 50-day moving average price is $39.03 and its 200 day moving average price is $35.50.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Thursday, May 23rd. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.60 by $0.04. The company had revenue of $300.37 million during the quarter, compared to analyst estimates of $292.38 million. Shoe Carnival had a return on equity of 13.02% and a net margin of 6.20%. As a group, sell-side analysts anticipate that Shoe Carnival, Inc. will post 2.65 EPS for the current year.

Shoe Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were given a dividend of $0.135 per share. The ex-dividend date was Monday, July 8th. This represents a $0.54 dividend on an annualized basis and a yield of 1.25%. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.93%.

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.