SummerHaven Investment Management LLC Buys New Position in Shoe Carnival, Inc. $SCVL

SummerHaven Investment Management LLC bought a new stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 38,929 shares of the company’s stock, valued at approximately $809,000. SummerHaven Investment Management LLC owned 0.14% of Shoe Carnival at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in shares of Shoe Carnival by 13.0% during the first quarter. Royal Bank of Canada now owns 80,923 shares of the company’s stock valued at $1,779,000 after acquiring an additional 9,298 shares during the period. AQR Capital Management LLC lifted its position in Shoe Carnival by 367.2% in the first quarter. AQR Capital Management LLC now owns 52,303 shares of the company’s stock worth $1,150,000 after purchasing an additional 41,108 shares during the period. Millennium Management LLC boosted its stake in Shoe Carnival by 215.9% during the 1st quarter. Millennium Management LLC now owns 321,764 shares of the company’s stock valued at $7,076,000 after purchasing an additional 219,918 shares in the last quarter. Empowered Funds LLC increased its position in shares of Shoe Carnival by 3.0% during the 1st quarter. Empowered Funds LLC now owns 140,151 shares of the company’s stock valued at $3,082,000 after purchasing an additional 4,108 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of 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 during the period. 66.05% of the stock is owned by institutional investors and hedge funds.

Shoe Carnival Stock Performance

Shares of NASDAQ:SCVL opened at $18.50 on Thursday. The company has a market capitalization of $506.53 million, a PE ratio of 8.81 and a beta of 1.31. The stock has a fifty day moving average of $18.09 and a 200-day moving average of $19.74. Shoe Carnival, Inc. has a one year low of $15.21 and a one year high of $27.99.

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

Shoe Carnival Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Monday, January 12th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, January 12th. This represents a $0.60 dividend on an annualized basis and a yield of 3.2%. Shoe Carnival’s dividend payout ratio is currently 28.57%.

Shoe Carnival announced that its board has initiated a share buyback plan on Friday, December 12th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 9.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

SCVL has been the subject of several research analyst reports. Zacks Research lowered Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Shoe Carnival in a research report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Shoe Carnival Company Profile

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.