Prudential Financial Inc. cut its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL) by 10.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,946 shares of the company’s stock after selling 22,823 shares during the period. Prudential Financial Inc. owned 1.17% of Shoe Carnival worth $7,236,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of SCVL. Bank of Montreal Can boosted its stake in shares of Shoe Carnival by 9,179.7% during 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 during the period. Texas Permanent School Fund acquired a new stake in shares of Shoe Carnival during the 2nd quarter valued at $226,000. Aperio Group LLC acquired a new stake in shares of Shoe Carnival during the 2nd quarter valued at $309,000. TD Asset Management Inc. acquired a new stake in shares of Shoe Carnival during the 2nd quarter valued at $571,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Shoe Carnival by 77.4% during 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 during the period. 81.61% of the stock is currently owned by institutional investors.
Shares of NASDAQ:SCVL opened at $35.07 on Friday. The firm has a market cap of $587.25 million, a price-to-earnings ratio of 23.54 and a beta of 0.73. Shoe Carnival, Inc. has a 12-month low of $21.01 and a 12-month high of $45.00.
Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, November 15th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.15. Shoe Carnival had a net margin of 3.17% and a return on equity of 12.51%. The business had revenue of $269.18 million during the quarter, compared to analyst estimates of $265.40 million. Equities research analysts expect that Shoe Carnival, Inc. will post 2.38 earnings per share for the current fiscal year.
In related news, Director Kent A. Kleeberger sold 1,500 shares of Shoe Carnival stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of $36.77, for a total value of $55,155.00. Following the completion of the sale, the director now owns 14,960 shares of the company’s stock, valued at approximately $550,079.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.70% of the stock is currently owned by insiders.
A number of brokerages have issued reports on SCVL. Pivotal Research lowered shares of Shoe Carnival from a “buy” rating to a “hold” rating and lifted their target price for the company from $43.00 to $45.00 in a research note on Tuesday, September 4th. BidaskClub raised shares of Shoe Carnival from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 30th. Zacks Investment Research lowered shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 31st. Wedbush decreased their target price on shares of Shoe Carnival from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, November 16th. Finally, ValuEngine lowered shares of Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $38.60.
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Shoe Carnival 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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