Hodges Capital Management Inc. Sells 64,424 Shares of Shoe Carnival, Inc. $SCVL

Hodges Capital Management Inc. decreased its holdings in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 14.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 389,980 shares of the company’s stock after selling 64,424 shares during the quarter. Hodges Capital Management Inc. owned approximately 1.42% of Shoe Carnival worth $6,080,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. 1492 Capital Management LLC bought a new stake in Shoe Carnival during the 1st quarter worth about $199,000. Hsbc Holdings PLC grew its holdings in shares of Shoe Carnival by 123.5% in the 4th quarter. Hsbc Holdings PLC now owns 81,871 shares of the company’s stock valued at $1,392,000 after acquiring an additional 45,246 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Shoe Carnival in the fourth quarter valued at about $172,000. Empowered Funds LLC increased its position in shares of Shoe Carnival by 10.6% in the fourth quarter. Empowered Funds LLC now owns 121,540 shares of the company’s stock valued at $2,052,000 after acquiring an additional 11,669 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Shoe Carnival during the fourth quarter worth about $510,000. Institutional investors own 66.05% of the company’s stock.

Analysts Set New Price Targets

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

Shoe Carnival Price Performance

Shares of SCVL opened at $17.43 on Monday. The company has a market cap of $473.11 million, a PE ratio of 12.91 and a beta of 1.41. The firm has a 50-day moving average of $17.26 and a 200-day moving average of $18.13. Shoe Carnival, Inc. has a one year low of $14.91 and a one year high of $26.57.

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

Shoe Carnival Dividend Announcement

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