American Century Companies Inc. bought a new stake in Shoe Carnival, Inc. (NASDAQ:SCVL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 64,339 shares of the company’s stock, valued at approximately $2,088,000. American Century Companies Inc. owned approximately 0.40% of Shoe Carnival at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Shoe Carnival by 77.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 132,700 shares of the company’s stock valued at $4,306,000 after buying an additional 57,900 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Shoe Carnival in the 1st quarter valued at $219,000. New York State Common Retirement Fund boosted its holdings in shares of Shoe Carnival by 97.5% in the 1st quarter. New York State Common Retirement Fund now owns 22,517 shares of the company’s stock valued at $536,000 after buying an additional 11,117 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Shoe Carnival by 18.2% in the 1st quarter. Prudential Financial Inc. now owns 203,199 shares of the company’s stock valued at $4,836,000 after buying an additional 31,240 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Shoe Carnival by 9,179.7% in the 2nd quarter. Bank of Montreal Can now owns 5,939 shares of the company’s stock valued at $192,000 after buying an additional 5,875 shares in the last quarter. Institutional investors and hedge funds own 79.13% of the company’s stock.
A number of analysts recently weighed in on the stock. BidaskClub cut shares of Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. TheStreet upgraded shares of Shoe Carnival from a “c+” rating to a “b” rating in a research note on Friday, May 25th. Wedbush increased their price target on shares of Shoe Carnival from $38.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 29th. Zacks Investment Research cut shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, Pivotal Research reiterated a “buy” rating and set a $30.00 price target on shares of Shoe Carnival in a research note on Tuesday, May 22nd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Shoe Carnival has a consensus rating of “Buy” and a consensus price target of $33.57.
Shares of NASDAQ:SCVL opened at $40.85 on Monday. The firm has a market cap of $656.75 million, a P/E ratio of 27.42 and a beta of 0.90. Shoe Carnival, Inc. has a 1-year low of $17.94 and a 1-year high of $45.00.
Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Tuesday, August 28th. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.20. The firm had revenue of $268.37 million during the quarter, compared to analysts’ expectations of $265.16 million. Shoe Carnival had a net margin of 2.98% and a return on equity of 12.06%. Shoe Carnival’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS. analysts forecast that Shoe Carnival, Inc. will post 2.16 earnings per share for the current year.
In related news, Director Kent A. Kleeberger sold 2,172 shares of the stock in a transaction on Friday, August 31st. The shares were sold at an average price of $44.11, for a total transaction of $95,806.92. Following the completion of the sale, the director now owns 16,460 shares in the company, valued at approximately $726,050.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.70% of the stock is owned by corporate insiders.
Shoe Carnival Company Profile
Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.
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