Dimensional Fund Advisors LP Sells 98,652 Shares of Shoe Carnival, Inc. (SCVL)
Dimensional Fund Advisors LP reduced its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL) by 6.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,471,450 shares of the company’s stock after selling 98,652 shares during the period. Dimensional Fund Advisors LP owned about 8.53% of Shoe Carnival worth $30,724,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Marshall Wace North America L.P. purchased a new stake in shares of Shoe Carnival in the 2nd quarter valued at $2,052,000. Russell Investments Group Ltd. boosted its holdings in shares of Shoe Carnival by 67.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 89,641 shares of the company’s stock valued at $1,872,000 after acquiring an additional 36,100 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Shoe Carnival by 5.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 65,717 shares of the company’s stock valued at $1,615,000 after acquiring an additional 3,463 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Shoe Carnival by 35.7% in the 2nd quarter. Prudential Financial Inc. now owns 153,749 shares of the company’s stock valued at $3,210,000 after acquiring an additional 40,480 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Shoe Carnival by 9.5% in the 1st quarter. Swiss National Bank now owns 24,300 shares of the company’s stock valued at $597,000 after acquiring an additional 2,100 shares during the last quarter. 62.64% of the stock is currently owned by institutional investors and hedge funds.
Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Wednesday, August 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $235.10 million for the quarter, compared to analyst estimates of $232.26 million. Shoe Carnival had a net margin of 2.09% and a return on equity of 7.37%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $0.22 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, September 29th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.60%. Shoe Carnival’s dividend payout ratio (DPR) is presently 24.79%.
Several analysts have recently commented on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 price objective (down from $21.00) on shares of Shoe Carnival in a report on Thursday, August 31st. BidaskClub downgraded shares of Shoe Carnival from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Zacks Investment Research downgraded shares of Shoe Carnival from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Susquehanna Bancshares Inc upped their price objective on shares of Shoe Carnival from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, August 31st. Finally, Wedbush assumed coverage on shares of Shoe Carnival in a report on Monday, August 14th. They issued an “outperform” rating and a $21.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.57.
In other Shoe Carnival news, Director Charles B. Tomm bought 11,190 shares of the stock in a transaction dated Friday, September 29th. The shares were acquired at an average cost of $22.69 per share, for a total transaction of $253,901.10. Following the completion of the transaction, the director now owns 16,948 shares in the company, valued at approximately $384,550.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 28.50% of the company’s stock.
Shoe Carnival Profile
Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. It also offers online shopping on its e-commerce site at www.shoecarnival.com.
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