Meros Investment Management LP Buys New Shares in Shoe Carnival, Inc. $SCVL

Meros Investment Management LP bought a new stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 415,110 shares of the company’s stock, valued at approximately $7,007,000. Shoe Carnival comprises about 2.8% of Meros Investment Management LP’s investment portfolio, making the stock its 14th largest holding. Meros Investment Management LP owned about 1.52% of Shoe Carnival as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank grew its holdings in shares of Shoe Carnival by 164.8% during the 3rd quarter. Huntington National Bank now owns 1,491 shares of the company’s stock valued at $31,000 after purchasing an additional 928 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Shoe Carnival during the 4th quarter valued at $28,000. Kestra Advisory Services LLC bought a new position in shares of Shoe Carnival during the 4th quarter valued at $44,000. Los Angeles Capital Management LLC bought a new position in shares of Shoe Carnival during the 4th quarter valued at $86,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Shoe Carnival by 66.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,005 shares of the company’s stock valued at $146,000 after purchasing an additional 2,809 shares during the last quarter. Institutional investors own 66.05% of the company’s stock.

Shoe Carnival Trading Down 0.0%

Shares of SCVL opened at $17.43 on Tuesday. The firm’s 50-day moving average price is $17.34 and its 200-day moving average price is $18.16. The firm has a market capitalization of $473.11 million, a price-to-earnings ratio of 12.91 and a beta of 1.41. Shoe Carnival, Inc. has a 1-year low of $14.91 and a 1-year high of $26.57.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings data on Thursday, May 21st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Shoe Carnival had a net margin of 3.31% and a return on equity of 7.24%. The business had revenue of $270.73 million for the quarter, compared to analyst estimates of $268.73 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Shoe Carnival’s quarterly revenue was down 2.5% on a year-over-year basis. On average, research analysts forecast that Shoe Carnival, Inc. will post 1.5 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, July 6th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $0.68 annualized dividend and a yield of 3.9%. Shoe Carnival’s payout ratio is presently 50.37%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SCVL shares. Zacks Research raised shares of Shoe Carnival from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Shoe Carnival in a report on Friday, March 27th. Finally, Williams Trading set a $22.00 target price on shares of Shoe Carnival in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $22.00.

Insider Buying and Selling

In other Shoe Carnival news, CFO W Kerry Jackson acquired 31,000 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were acquired at an average price of $16.13 per share, with a total value of $500,030.00. Following the completion of the purchase, the chief financial officer directly owned 215,529 shares of the company’s stock, valued at approximately $3,476,482.77. The trade was a 16.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 33.60% of the stock is owned by insiders.

About Shoe Carnival

Shoe Carnival, Inc (NASDAQ: SCVL) is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.

Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.