JPMorgan Chase & Co. trimmed its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 20.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,655 shares of the company’s stock after selling 10,710 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.24% of Shoe Carnival worth $926,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the business. Legal & General Group Plc grew its stake in Shoe Carnival by 2.5% during the second quarter. Legal & General Group Plc now owns 22,564 shares of the company’s stock worth $471,000 after buying an additional 557 shares during the last quarter. Alliancebernstein L.P. grew its stake in Shoe Carnival by 13.6% during the second quarter. Alliancebernstein L.P. now owns 10,850 shares of the company’s stock worth $227,000 after buying an additional 1,300 shares during the last quarter. Citigroup Inc. grew its stake in Shoe Carnival by 12.5% during the second quarter. Citigroup Inc. now owns 17,658 shares of the company’s stock worth $368,000 after buying an additional 1,961 shares during the last quarter. California Public Employees Retirement System grew its stake in Shoe Carnival by 6.4% during the second quarter. California Public Employees Retirement System now owns 49,800 shares of the company’s stock worth $1,040,000 after buying an additional 3,000 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Shoe Carnival by 11.1% during the second quarter. Wells Fargo & Company MN now owns 48,873 shares of the company’s stock worth $1,021,000 after buying an additional 4,880 shares during the last quarter. 66.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Shoe Carnival, Inc. (NASDAQ:SCVL) opened at $25.27 on Friday. Shoe Carnival, Inc. has a 52 week low of $15.07 and a 52 week high of $28.38. The company has a market cap of $447.70, a P/E ratio of 19.00, a PEG ratio of 1.49 and a beta of 1.06.
Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Thursday, November 16th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.08. Shoe Carnival had a net margin of 2.17% and a return on equity of 7.81%. The business had revenue of $287.47 million for the quarter, compared to analysts’ expectations of $286.90 million. equities analysts anticipate that Shoe Carnival, Inc. will post 1.48 EPS for the current fiscal year.
Shoe Carnival announced that its board has approved a stock buyback plan on Tuesday, December 19th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 22nd. Stockholders of record on Monday, January 8th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, January 5th. This represents a $0.30 annualized dividend and a dividend yield of 1.19%. Shoe Carnival’s dividend payout ratio (DPR) is currently 22.56%.
Several analysts have weighed in on the stock. Zacks Investment Research cut shares of Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. BidaskClub raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Jefferies Group set a $22.00 price objective on shares of Shoe Carnival and gave the stock a “hold” rating in a research note on Saturday, November 18th. TheStreet raised shares of Shoe Carnival from a “c” rating to a “b-” rating in a research note on Friday, November 17th. Finally, Susquehanna Bancshares reaffirmed a “buy” rating and set a $28.00 price objective on shares of Shoe Carnival in a research note on Friday, November 17th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Shoe Carnival currently has a consensus rating of “Hold” and an average price target of $25.86.
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About Shoe Carnival
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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