Harvest Fund Management Co. Ltd Takes $62,000 Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Harvest Fund Management Co. Ltd acquired a new position in Shoe Carnival, Inc. (NASDAQ:SCVL) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,423 shares of the company’s stock, valued at approximately $62,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Shoe Carnival by 138.3% in the third quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock worth $2,598,000 after acquiring an additional 34,382 shares during the period. Pinnacle Associates Ltd. raised its holdings in Shoe Carnival by 69.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 46,540 shares of the company’s stock worth $2,041,000 after purchasing an additional 19,030 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in Shoe Carnival by 11.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 15,369 shares of the company’s stock worth $562,000 after purchasing an additional 1,562 shares during the period. Creative Planning purchased a new position in Shoe Carnival during the second quarter valued at $281,000. Finally, Millennium Management LLC grew its holdings in Shoe Carnival by 726.1% during the second quarter. Millennium Management LLC now owns 101,831 shares of the company’s stock valued at $3,757,000 after purchasing an additional 89,504 shares during the period. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Shoe Carnival Trading Up 0.2 %

Shares of SCVL stock opened at $33.61 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.89 and a current ratio of 3.88. The stock has a fifty day simple moving average of $38.44 and a two-hundred day simple moving average of $38.69. The firm has a market capitalization of $913.18 million, a PE ratio of 12.33 and a beta of 1.56. Shoe Carnival, Inc. has a 52-week low of $22.75 and a 52-week high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last released its earnings results 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 firm had revenue of $332.70 million during the quarter, compared to analysts’ expectations of $331.45 million. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $0.71 earnings per share. On average, analysts predict that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The business also recently disclosed 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 1.61%. The ex-dividend date of this dividend was Monday, October 7th. Shoe Carnival’s payout ratio is currently 19.85%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SCVL. Williams Trading raised their price objective on Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. StockNews.com downgraded shares of Shoe Carnival from a “hold” rating to a “sell” rating in a report on Friday, November 22nd.

Shoe Carnival Company 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.