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

Meros Investment Management LP bought a new position in Shoe Carnival, Inc. (NASDAQ:SCVL) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 415,110 shares of the company’s stock, valued at approximately $7,007,000. Shoe Carnival makes up about 2.8% of Meros Investment Management LP’s investment portfolio, making the stock its 14th biggest holding.

Several other large investors have also bought and sold shares of SCVL. Millennium Management LLC raised its holdings in Shoe Carnival by 215.9% in the first quarter. Millennium Management LLC now owns 321,764 shares of the company’s stock worth $7,076,000 after buying an additional 219,918 shares during the last quarter. Divisadero Street Capital Management LP purchased a new position in Shoe Carnival in the third quarter worth about $3,813,000. Royce & Associates LP raised its holdings in Shoe Carnival by 38.6% in the fourth quarter. Royce & Associates LP now owns 577,201 shares of the company’s stock worth $9,743,000 after buying an additional 160,747 shares during the last quarter. Jane Street Group LLC raised its holdings in Shoe Carnival by 341.9% in the fourth quarter. Jane Street Group LLC now owns 205,942 shares of the company’s stock worth $3,476,000 after buying an additional 159,339 shares during the last quarter. Finally, Jump Financial LLC raised its holdings in Shoe Carnival by 1,050.1% in the second quarter. Jump Financial LLC now owns 173,670 shares of the company’s stock worth $3,249,000 after buying an additional 158,570 shares during the last quarter. 66.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Shoe Carnival

In other Shoe Carnival news, CFO W Kerry Jackson bought 31,000 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was bought at an average cost of $16.13 per share, for a total transaction of $500,030.00. Following the completion of the transaction, the chief financial officer owned 215,529 shares of the company’s stock, valued at $3,476,482.77. This represents a 16.80% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 33.60% of the company’s stock.

Shoe Carnival Trading Down 0.0%

Shares of NASDAQ SCVL opened at $17.43 on Tuesday. The firm has a 50 day moving average of $17.34 and a 200 day moving average of $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 12-month low of $14.91 and a 12-month high of $26.57.

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

Shoe Carnival Dividend Announcement

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

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.