38,929 Shares in Shoe Carnival, Inc. $SCVL Acquired by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC acquired a new position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 38,929 shares of the company’s stock, valued at approximately $809,000.

A number of other hedge funds also recently modified their holdings of SCVL. First Horizon Advisors Inc. raised its position in 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 buying an additional 486 shares during the period. CWM LLC grew its stake 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 acquiring an additional 1,727 shares in the last quarter. GAMMA Investing LLC grew 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 acquiring an additional 4,080 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Shoe Carnival in the 2nd quarter valued at about $146,000. Finally, Rafferty Asset Management LLC purchased a new stake in shares of Shoe Carnival in the second quarter worth approximately $188,000. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Shoe Carnival Stock Performance

Shares of NASDAQ SCVL opened at $18.50 on Thursday. The business has a 50 day simple moving average of $18.09 and a 200 day simple moving average of $19.74. Shoe Carnival, Inc. has a 52 week low of $15.21 and a 52 week high of $27.99. The stock has a market cap of $506.53 million, a price-to-earnings ratio of 8.81 and a beta of 1.31.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Thursday, November 20th. The company reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. The firm had revenue of $297.16 million for 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 revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 earnings per share. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. On average, analysts predict that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival declared that its board has approved a stock buyback program on Friday, December 12th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 9.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Shoe Carnival Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on SCVL shares. 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 reissued a “hold (c-)” rating on shares of Shoe Carnival in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus 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.