North Star Investment Management Corp. Grows Stock Holdings in Shoe Carnival, Inc. $SCVL

North Star Investment Management Corp. boosted its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 51.6% in the third quarter, Holdings Channel reports. The institutional investor owned 96,892 shares of the company’s stock after purchasing an additional 33,000 shares during the period. North Star Investment Management Corp.’s holdings in Shoe Carnival were worth $2,014,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SCVL. First Horizon Advisors Inc. increased its holdings in shares of Shoe Carnival by 33.8% during the second quarter. First Horizon Advisors Inc. now owns 1,923 shares of the company’s stock valued at $36,000 after acquiring an additional 486 shares in the last quarter. CWM LLC grew its position in Shoe Carnival by 44.5% during the 2nd quarter. CWM LLC now owns 5,610 shares of the company’s stock valued at $105,000 after purchasing an additional 1,727 shares during the last quarter. GAMMA Investing LLC increased its stake in Shoe Carnival by 162.5% during the 2nd quarter. GAMMA Investing LLC now owns 6,590 shares of the company’s stock valued at $123,000 after purchasing an additional 4,080 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Shoe Carnival in the second quarter worth about $146,000. Finally, Rafferty Asset Management LLC bought a new position in shares of Shoe Carnival in the second quarter worth approximately $188,000. 66.05% of the stock is owned by institutional investors.

Insider Transactions at Shoe Carnival

In other Shoe Carnival news, Director Andrea R. Guthrie sold 2,477 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was 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 $492,981. The trade was a 9.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 35.50% of the company’s stock.

Shoe Carnival Stock Up 0.7%

Shares of Shoe Carnival stock opened at $17.63 on Tuesday. Shoe Carnival, Inc. has a twelve month low of $15.21 and a twelve month high of $32.66. The company’s 50 day moving average is $17.58 and its 200 day moving average is $19.88. The company has a market cap of $482.62 million, a price-to-earnings ratio of 8.40 and a beta of 1.31.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Thursday, November 20th. The company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. The business had revenue of $297.16 million during the quarter, compared to analyst estimates of $295.25 million. Shoe Carnival had a net margin of 5.06% and a return on equity of 8.75%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. Sell-side analysts expect that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

Shoe Carnival announced that its Board of Directors has initiated a share repurchase plan on Friday, December 12th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 9.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Shoe Carnival Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Monday, January 12th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, January 12th. Shoe Carnival’s dividend payout ratio (DPR) is presently 28.57%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Shoe Carnival in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Shoe Carnival has an average rating of “Hold”.

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.