Allspring Global Investments Holdings LLC Cuts Stock Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Allspring Global Investments Holdings LLC lessened its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 27.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,549 shares of the company’s stock after selling 63,306 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.60% of Shoe Carnival worth $4,941,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. MTM Investment Management LLC purchased a new position in Shoe Carnival in the fourth quarter worth $231,000. Clarity Financial LLC purchased a new stake in shares of Shoe Carnival during the 4th quarter valued at about $429,000. Exchange Traded Concepts LLC purchased a new stake in shares of Shoe Carnival during the 4th quarter valued at about $404,000. Public Employees Retirement System of Ohio raised its holdings in shares of Shoe Carnival by 49.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 265,412 shares of the company’s stock valued at $6,378,000 after buying an additional 87,415 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Shoe Carnival by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,308,114 shares of the company’s stock valued at $31,434,000 after buying an additional 26,662 shares during the period. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Carl N. Scibetta sold 5,415 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $35.45, for a total value of $191,961.75. Following the completion of the sale, the executive vice president now directly owns 118,077 shares in the company, valued at approximately $4,185,829.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Andrea R. Guthrie sold 2,467 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $32.46, for a total value of $80,078.82. Following the completion of the sale, the director now directly owns 20,106 shares in the company, valued at approximately $652,640.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Carl N. Scibetta sold 5,415 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $35.45, for a total value of $191,961.75. Following the completion of the sale, the executive vice president now owns 118,077 shares of the company’s stock, valued at $4,185,829.65. The disclosure for this sale can be found here. 34.50% of the stock is owned by company insiders.

Shoe Carnival Stock Up 2.1 %

SCVL stock opened at $33.15 on Friday. Shoe Carnival, Inc. has a 52-week low of $19.24 and a 52-week high of $37.08. The stock’s 50 day moving average is $32.75 and its two-hundred day moving average is $28.15. The company has a market capitalization of $898.37 million, a PE ratio of 12.37 and a beta of 1.56.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings data on Thursday, March 21st. The company reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.59. Shoe Carnival had a return on equity of 13.17% and a net margin of 6.24%. The company had revenue of $280.20 million for the quarter, compared to the consensus estimate of $280.30 million. During the same period in the previous year, the business earned $0.79 EPS. Shoe Carnival’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Shoe Carnival, Inc. will post 2.65 EPS for the current year.

Shoe Carnival Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, April 5th. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.12. This represents a $0.54 annualized dividend and a yield of 1.63%. Shoe Carnival’s payout ratio is currently 20.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SCVL shares. Williams Trading upgraded Shoe Carnival from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Friday, March 22nd. Monness Crespi & Hardt downgraded Shoe Carnival from a “buy” rating to a “neutral” rating in a report on Tuesday, March 19th.

About Shoe Carnival

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.