Shoe Carnival, Inc. (NASDAQ:SCVL) Stake Cut by New South Capital Management Inc.

New South Capital Management Inc. cut its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 35.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 259,450 shares of the company’s stock after selling 143,750 shares during the period. New South Capital Management Inc.’s holdings in Shoe Carnival were worth $11,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in Shoe Carnival during the second quarter worth $41,000. Everence Capital Management Inc. bought a new stake in Shoe Carnival in the third quarter valued at $224,000. Summit Global Investments bought a new stake in Shoe Carnival in the second quarter valued at $244,000. EMC Capital Management lifted its stake in Shoe Carnival by 11.9% in the first quarter. EMC Capital Management now owns 7,468 shares of the company’s stock valued at $274,000 after buying an additional 793 shares during the last quarter. Finally, Creative Planning bought a new stake in Shoe Carnival in the second quarter valued at $281,000. 66.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Shoe Carnival Price Performance

Shares of NASDAQ SCVL traded up $0.71 during midday trading on Tuesday, reaching $38.95. 4,295 shares of the company traded hands, compared to its average volume of 237,502. Shoe Carnival, Inc. has a 52 week low of $21.50 and a 52 week high of $46.92. The stock has a 50-day moving average price of $39.56 and a 200 day moving average price of $38.65. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 13.56 and a beta of 1.56.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. Shoe Carnival had a net margin of 6.26% and a return on equity of 13.26%. The business had revenue of $332.70 million for the quarter, compared to analysts’ expectations of $331.45 million. During the same period in the previous year, the business earned $0.71 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. As a group, analysts expect that Shoe Carnival, Inc. will post 2.65 EPS for the current year.

Shoe Carnival Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Monday, October 7th. Shoe Carnival’s payout ratio is currently 19.15%.

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.