Everence Capital Management Inc. Invests $224,000 in Shoe Carnival, Inc. (NASDAQ:SCVL)

Everence Capital Management Inc. purchased a new position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,100 shares of the company’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning bought a new position in shares of Shoe Carnival during the 2nd quarter worth $281,000. Millennium Management LLC grew its position in shares of Shoe Carnival by 726.1% during the 2nd quarter. Millennium Management LLC now owns 101,831 shares of the company’s stock worth $3,757,000 after buying an additional 89,504 shares in the last quarter. Maverick Capital Ltd. grew its position in shares of Shoe Carnival by 98.9% during the 2nd quarter. Maverick Capital Ltd. now owns 56,790 shares of the company’s stock worth $2,095,000 after buying an additional 28,233 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Shoe Carnival by 5.2% during the second quarter. Public Sector Pension Investment Board now owns 39,420 shares of the company’s stock valued at $1,454,000 after purchasing an additional 1,946 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Shoe Carnival by 1.1% during the second quarter. Sei Investments Co. now owns 52,816 shares of the company’s stock valued at $1,948,000 after purchasing an additional 595 shares in the last quarter. Institutional investors own 66.05% of the company’s stock.

Shoe Carnival Price Performance

Shares of SCVL stock opened at $36.16 on Wednesday. Shoe Carnival, Inc. has a 1-year low of $21.18 and a 1-year high of $46.92. The stock’s 50-day moving average is $41.36 and its 200 day moving average is $38.41. The company has a market cap of $982.47 million, a P/E ratio of 12.82 and a beta of 1.53.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.83 EPS for the quarter, beating 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 analysts’ expectations of $331.45 million. During the same period last year, the business posted $0.71 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. On average, analysts anticipate that Shoe Carnival, Inc. will post 2.65 EPS for the current year.

Shoe Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Monday, October 7th. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.15%.

Analyst Upgrades and Downgrades

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

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.