Royce & Associates LP Sells 50,499 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Royce & Associates LP reduced its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 9.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 463,853 shares of the company’s stock after selling 50,499 shares during the quarter. Royce & Associates LP owned about 1.71% of Shoe Carnival worth $20,340,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rhumbline Advisers increased its stake in Shoe Carnival by 0.7% in the second quarter. Rhumbline Advisers now owns 56,711 shares of the company’s stock worth $2,092,000 after purchasing an additional 394 shares during the period. SummerHaven Investment Management LLC boosted its holdings in Shoe Carnival by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 31,550 shares of the company’s stock worth $1,164,000 after acquiring an additional 402 shares in the last quarter. Sei Investments Co. boosted its holdings in Shoe Carnival by 1.1% in the second quarter. Sei Investments Co. now owns 52,816 shares of the company’s stock worth $1,948,000 after acquiring an additional 595 shares in the last quarter. EMC Capital Management lifted its holdings in shares of Shoe Carnival by 11.9% during the first quarter. EMC Capital Management now owns 7,468 shares of the company’s stock worth $274,000 after purchasing an additional 793 shares during the period. Finally, Tectonic Advisors LLC raised its position in Shoe Carnival by 2.2% during the third quarter. Tectonic Advisors LLC now owns 48,986 shares of the company’s stock valued at $2,148,000 after acquiring an additional 1,056 shares in the last quarter. 66.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Williams Trading lifted their price target on Shoe Carnival from $42.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, August 29th.

Shoe Carnival Price Performance

Shoe Carnival stock opened at $35.38 on Friday. Shoe Carnival, Inc. has a 12 month low of $21.50 and a 12 month high of $46.92. The stock has a market capitalization of $961.27 million, a PE ratio of 12.55 and a beta of 1.56. The business has a 50 day simple moving average of $39.40 and a 200-day simple moving average of $38.66.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $332.70 million for the quarter, compared to analyst estimates of $331.45 million. Shoe Carnival had a return on equity of 13.26% and a net margin of 6.26%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. On average, equities research analysts anticipate that Shoe Carnival, Inc. will post 2.65 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Monday, October 7th. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.15%.

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.