Empowered Funds LLC Grows Stock Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Empowered Funds LLC boosted its position in Shoe Carnival, Inc. (NASDAQ:SCVL) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 129,459 shares of the company’s stock after purchasing an additional 6,566 shares during the quarter. Empowered Funds LLC’s holdings in Shoe Carnival were worth $5,677,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Innealta Capital LLC acquired a new stake in Shoe Carnival during the second quarter worth about $41,000. Everence Capital Management Inc. acquired a new stake in shares of Shoe Carnival in the third quarter valued at $224,000. Aigen Investment Management LP acquired a new position in Shoe Carnival during the 3rd quarter worth about $237,000. Summit Global Investments purchased a new position in Shoe Carnival during the 2nd quarter valued at about $244,000. Finally, EMC Capital Management grew its position in Shoe Carnival by 11.9% in the 1st quarter. EMC Capital Management now owns 7,468 shares of the company’s stock valued at $274,000 after acquiring an additional 793 shares in the last quarter. 66.05% of the stock is owned by hedge funds and other institutional investors.

Shoe Carnival Stock Performance

SCVL stock opened at $35.38 on Friday. Shoe Carnival, Inc. has a fifty-two week low of $21.50 and a fifty-two week high of $46.92. The company’s 50 day moving average price is $39.40 and its 200 day moving average price is $38.70. The firm has a market capitalization of $961.27 million, a price-to-earnings ratio of 12.55 and a beta of 1.56.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. The business had revenue of $332.70 million during the quarter, compared to analysts’ expectations of $331.45 million. Shoe Carnival had a net margin of 6.26% and a return on equity of 13.26%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 EPS. Equities analysts forecast that Shoe Carnival, Inc. will post 2.65 EPS for the current fiscal year.

Shoe Carnival Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Monday, October 7th. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.15%.

Analysts Set New Price Targets

Separately, Williams Trading upped their price objective on Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th.

Shoe Carnival Profile

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.