Shoe Carnival, Inc. $SCVL Stock Holdings Lifted by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 123.5% in the fourth quarter, Holdings Channel reports. The firm owned 81,871 shares of the company’s stock after buying an additional 45,246 shares during the period. Hsbc Holdings PLC’s holdings in Shoe Carnival were worth $1,392,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Huntington National Bank raised its position in Shoe Carnival by 164.8% during the third quarter. Huntington National Bank now owns 1,491 shares of the company’s stock valued at $31,000 after acquiring an additional 928 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Shoe Carnival in the fourth quarter worth approximately $28,000. Kestra Advisory Services LLC bought a new stake in Shoe Carnival in the fourth quarter worth approximately $44,000. Los Angeles Capital Management LLC acquired a new position in shares of Shoe Carnival during the 4th quarter worth $86,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Shoe Carnival by 66.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,005 shares of the company’s stock worth $146,000 after purchasing an additional 2,809 shares during the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO W Kerry Jackson purchased 31,000 shares of the firm’s stock in a transaction 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 acquisition, the chief financial officer directly owned 215,529 shares of the company’s stock, valued at approximately $3,476,482.77. The trade was a 16.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 33.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SCVL shares. Zacks Research upgraded shares of Shoe Carnival from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Shoe Carnival in a research report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $22.00.

Shoe Carnival Stock Down 0.0%

Shares of SCVL stock opened at $17.43 on Wednesday. Shoe Carnival, Inc. has a 12 month low of $14.91 and a 12 month high of $26.57. The company has a market cap of $473.11 million, a PE ratio of 12.91 and a beta of 1.41. The business’s 50 day moving average is $17.36 and its two-hundred day moving average is $18.16.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Thursday, May 21st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $270.73 million during the quarter, compared to analysts’ expectations of $268.73 million. Shoe Carnival had a net margin of 3.31% and a return on equity of 7.24%. Shoe Carnival’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 earnings per share. As a group, equities analysts expect that Shoe Carnival, Inc. will post 1.5 EPS for the current fiscal year.

Shoe Carnival Announces Dividend

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

Shoe Carnival Profile

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.