Tectonic Advisors LLC Purchases 1,056 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Tectonic Advisors LLC increased its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,986 shares of the company’s stock after purchasing an additional 1,056 shares during the period. Tectonic Advisors LLC owned 0.18% of Shoe Carnival worth $2,148,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in Shoe Carnival by 34.7% during the 2nd quarter. American Century Companies Inc. now owns 410,355 shares of the company’s stock valued at $15,138,000 after acquiring an additional 105,818 shares during the period. Millennium Management LLC increased its holdings in Shoe Carnival by 726.1% in the 2nd quarter. Millennium Management LLC now owns 101,831 shares of the company’s stock worth $3,757,000 after acquiring an additional 89,504 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Shoe Carnival by 40.4% during the first quarter. Empowered Funds LLC now owns 114,073 shares of the company’s stock worth $4,180,000 after buying an additional 32,827 shares in the last quarter. Maverick Capital Ltd. grew its holdings in shares of Shoe Carnival by 98.9% during the second quarter. Maverick Capital Ltd. now owns 56,790 shares of the company’s stock worth $2,095,000 after buying an additional 28,233 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Shoe Carnival by 16.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 190,953 shares of the company’s stock worth $6,997,000 after buying an additional 27,404 shares in the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Shoe Carnival Price Performance

NASDAQ SCVL opened at $35.59 on Friday. The firm’s 50-day moving average is $41.10 and its two-hundred day moving average is $38.37. Shoe Carnival, Inc. has a 12 month low of $21.18 and a 12 month high of $46.92. The stock has a market capitalization of $966.55 million, a P/E ratio of 13.13 and a beta of 1.53.

Shoe Carnival (NASDAQ:SCVL) last released its earnings results 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 firm had revenue of $332.70 million for the quarter, compared to analyst estimates of $331.45 million. Shoe Carnival had a net margin of 6.26% and a return on equity of 13.26%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. As a group, analysts anticipate that Shoe Carnival, Inc. will post 2.65 EPS for the current year.

Shoe Carnival Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Monday, October 7th. Shoe Carnival’s dividend payout ratio is presently 19.93%.

Wall Street Analysts Forecast Growth

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

Shoe Carnival 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.