Shoe Carnival, Inc. $SCVL Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 123.5% in the 4th quarter, HoldingsChannel reports. The firm owned 81,871 shares of the company’s stock after purchasing 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 filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its position in Shoe Carnival by 33.1% during the 4th quarter. ProShare Advisors LLC now owns 340,912 shares of the company’s stock worth $5,755,000 after purchasing an additional 84,861 shares during the period. CSM Advisors LLC lifted its holdings in shares of Shoe Carnival by 120.1% in the 3rd quarter. CSM Advisors LLC now owns 108,555 shares of the company’s stock valued at $2,258,000 after buying an additional 59,245 shares during the period. Divisadero Street Capital Management LP acquired a new stake in shares of Shoe Carnival in the 3rd quarter valued at approximately $3,813,000. Meros Investment Management LP purchased a new stake in shares of Shoe Carnival in the fourth quarter valued at approximately $7,007,000. Finally, Royce & Associates LP boosted its stake in shares of Shoe Carnival by 38.6% in the fourth quarter. Royce & Associates LP now owns 577,201 shares of the company’s stock valued at $9,743,000 after buying an additional 160,747 shares in the last quarter. Institutional investors and hedge funds own 66.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Shoe Carnival Stock Down 0.0%

Shoe Carnival stock opened at $17.43 on Monday. The firm has a market capitalization of $473.11 million, a PE ratio of 12.91 and a beta of 1.41. Shoe Carnival, Inc. has a 52 week low of $14.91 and a 52 week high of $26.57. The firm’s 50-day simple moving average is $17.14 and its 200 day simple moving average is $18.09.

Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Thursday, May 21st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The firm had revenue of $270.73 million during the quarter, compared to the consensus estimate of $268.73 million. Shoe Carnival had a net margin of 3.31% and a return on equity of 7.24%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.34 EPS. On average, research analysts expect that Shoe Carnival, Inc. will post 1.5 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

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

Shoe Carnival Company 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.