Public Sector Pension Investment Board Raises Stake in Shoe Carnival, Inc. (NASDAQ:SCVL)

Public Sector Pension Investment Board increased its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,420 shares of the company’s stock after buying an additional 1,946 shares during the period. Public Sector Pension Investment Board owned 0.15% of Shoe Carnival worth $1,454,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new position in Shoe Carnival in the 2nd quarter worth about $41,000. Maryland State Retirement & Pension System bought a new position in Shoe Carnival in the first quarter worth approximately $240,000. Summit Global Investments purchased a new position in Shoe Carnival during the 2nd quarter worth $244,000. EMC Capital Management raised its position in Shoe Carnival by 11.9% during the 1st quarter. EMC Capital Management now owns 7,468 shares of the company’s stock valued at $274,000 after purchasing an additional 793 shares in the last quarter. Finally, BOKF NA purchased a new stake in shares of Shoe Carnival in the 1st quarter worth $308,000. Institutional investors own 66.05% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Williams Trading raised their price target on Shoe Carnival from $42.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, August 29th.

Shoe Carnival Stock Performance

Shares of SCVL opened at $43.85 on Tuesday. The company has a 50 day moving average price of $41.68 and a 200-day moving average price of $37.90. Shoe Carnival, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $46.92. The stock has a market capitalization of $1.19 billion, a PE ratio of 16.18 and a beta of 1.53.

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

Shoe Carnival Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.54 dividend on an annualized basis and a yield of 1.23%. Shoe Carnival’s dividend payout ratio is presently 19.93%.

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.