Hodges Capital Management Inc. Sells 64,424 Shares of Shoe Carnival, Inc. $SCVL

Hodges Capital Management Inc. reduced its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 14.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 389,980 shares of the company’s stock after selling 64,424 shares during the period. Hodges Capital Management Inc.’s holdings in Shoe Carnival were worth $6,080,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Shoe Carnival by 1.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,157 shares of the company’s stock valued at $661,000 after buying an additional 549 shares in the last quarter. Huntington National Bank boosted its holdings in Shoe Carnival by 45.5% in the fourth quarter. Huntington National Bank now owns 2,169 shares of the company’s stock valued at $37,000 after acquiring an additional 678 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Shoe Carnival by 6.1% during the second quarter. Prudential Financial Inc. now owns 18,768 shares of the company’s stock worth $351,000 after buying an additional 1,072 shares during the period. Exchange Traded Concepts LLC grew its holdings in Shoe Carnival by 9.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 13,449 shares of the company’s stock worth $227,000 after acquiring an additional 1,156 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in Shoe Carnival during the fourth quarter worth approximately $28,000. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Shoe Carnival Trading Down 0.0%

NASDAQ:SCVL opened at $17.43 on Monday. The stock has a market capitalization of $473.11 million, a PE ratio of 12.91 and a beta of 1.41. The firm’s 50 day moving average is $17.26 and its 200 day moving average is $18.13. Shoe Carnival, Inc. has a 12 month low of $14.91 and a 12 month high of $26.57.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Thursday, May 21st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $270.73 million during the quarter, compared to the consensus estimate of $268.73 million. Shoe Carnival had a return on equity of 7.24% and a net margin of 3.31%.The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 EPS. Research analysts predict that Shoe Carnival, Inc. will post 1.5 earnings per share for the current year.

Shoe Carnival Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, July 6th will be given a dividend of $0.17 per share. The ex-dividend date is Monday, July 6th. This represents a $0.68 annualized dividend and a dividend yield of 3.9%. Shoe Carnival’s dividend payout ratio is currently 50.37%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SCVL. Zacks Research raised shares of Shoe Carnival from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Shoe Carnival in a research report on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $22.00.

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.