Quinn Opportunity Partners LLC Acquires New Shares in Shoe Carnival, Inc. $SCVL

Quinn Opportunity Partners LLC bought a new position in Shoe Carnival, Inc. (NASDAQ:SCVL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 44,000 shares of the company’s stock, valued at approximately $823,000. Quinn Opportunity Partners LLC owned about 0.16% of Shoe Carnival at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in Shoe Carnival by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 97,677 shares of the company’s stock valued at $2,148,000 after buying an additional 2,496 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Shoe Carnival by 7.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 209,620 shares of the company’s stock valued at $4,610,000 after purchasing an additional 13,838 shares during the last quarter. CWM LLC raised its holdings in shares of Shoe Carnival by 188.3% in the first quarter. CWM LLC now owns 3,883 shares of the company’s stock worth $85,000 after buying an additional 2,536 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Shoe Carnival by 74.6% during the first quarter. Victory Capital Management Inc. now owns 59,947 shares of the company’s stock valued at $1,318,000 after purchasing an additional 25,617 shares during the period. Finally, Pinnacle Associates Ltd. boosted its position in Shoe Carnival by 68.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 43,339 shares of the company’s stock valued at $953,000 after buying an additional 17,604 shares during the period. 66.05% of the stock is owned by hedge funds and other institutional investors.

Shoe Carnival Stock Down 0.6%

Shares of SCVL opened at $16.94 on Thursday. The firm’s 50 day moving average price is $20.62 and its 200 day moving average price is $20.28. Shoe Carnival, Inc. has a fifty-two week low of $16.14 and a fifty-two week high of $38.80. The company has a market cap of $463.70 million, a P/E ratio of 7.46 and a beta of 1.35.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, September 4th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. Shoe Carnival had a net margin of 5.41% and a return on equity of 9.65%. The business had revenue of $306.39 million during the quarter, compared to analysts’ expectations of $318.31 million. During the same period in the previous year, the company earned $0.83 EPS. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. Shoe Carnival has set its FY 2025 guidance at 1.700-2.10 EPS. Research analysts forecast that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Monday, October 6th were given a $0.15 dividend. The ex-dividend date was Monday, October 6th. This represents a $0.60 dividend on an annualized basis and a yield of 3.5%. Shoe Carnival’s dividend payout ratio (DPR) is presently 26.43%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SCVL shares. Seaport Res Ptn lowered Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Zacks Research raised Shoe Carnival from a “strong sell” rating to a “strong-buy” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shoe Carnival in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Insider Activity at Shoe Carnival

In other news, Director Andrea R. Guthrie sold 2,477 shares of Shoe Carnival stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $20.20, for a total transaction of $50,035.40. Following the completion of the sale, the director directly owned 24,405 shares in the company, valued at approximately $492,981. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 35.50% of the company’s stock.

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.