Bank of New York Mellon Corp Sells 6,912 Shares of Shoe Carnival, Inc. (SCVL)
Bank of New York Mellon Corp lessened its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL) by 3.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 220,886 shares of the company’s stock after selling 6,912 shares during the period. Bank of New York Mellon Corp owned approximately 1.28% of Shoe Carnival worth $4,612,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Shoe Carnival by 5.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,059 shares of the company’s stock worth $100,000 after purchasing an additional 200 shares in the last quarter. JPMorgan Chase & Co. raised its position in Shoe Carnival by 482.3% in the first quarter. JPMorgan Chase & Co. now owns 7,558 shares of the company’s stock worth $186,000 after purchasing an additional 6,260 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in Shoe Carnival in the first quarter worth about $249,000. United Capital Financial Advisers LLC acquired a new position in Shoe Carnival in the first quarter worth about $303,000. Finally, Sanders Morris Harris LLC acquired a new position in Shoe Carnival in the second quarter worth about $280,000. 62.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Shoe Carnival, Inc. (NASDAQ SCVL) opened at 22.18 on Friday. The company has a market capitalization of $377.48 million, a PE ratio of 18.35 and a beta of 0.94. Shoe Carnival, Inc. has a 52 week low of $15.08 and a 52 week high of $31.79. The firm’s 50-day moving average is $19.16 and its 200 day moving average is $20.67.
Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Wednesday, August 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $235.10 million during the quarter, compared to analysts’ expectations of $232.26 million. Shoe Carnival had a net margin of 2.09% and a return on equity of 7.37%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 EPS. On average, analysts anticipate that Shoe Carnival, Inc. will post $1.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, September 29th. Shoe Carnival’s payout ratio is presently 24.79%.
In other news, Director Charles B. Tomm bought 11,190 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was bought at an average cost of $22.69 per share, for a total transaction of $253,901.10. Following the transaction, the director now owns 16,948 shares of the company’s stock, valued at $384,550.12. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 28.50% of the stock is currently owned by insiders.
Several research analysts recently issued reports on the stock. Sidoti lowered shares of Shoe Carnival from a “buy” rating to a “neutral” rating and set a $24.00 price target for the company. in a research report on Tuesday. Zacks Investment Research raised shares of Shoe Carnival from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Tuesday. Jefferies Group LLC reissued a “hold” rating and issued a $20.00 price target (down previously from $21.00) on shares of Shoe Carnival in a research report on Thursday, August 31st. UBS AG raised shares of Shoe Carnival from a “neutral” rating to a “positive” rating in a research note on Wednesday, September 20th. Finally, Susquehanna Bancshares Inc raised shares of Shoe Carnival from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $19.00 to $23.00 in a research note on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Shoe Carnival has a consensus rating of “Hold” and a consensus target price of $22.57.
About Shoe Carnival
Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. It also offers online shopping on its e-commerce site at www.shoecarnival.com.
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