Principal Financial Group Inc. Sells 5,007 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Principal Financial Group Inc. lessened its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL) by 5.2% during the third quarter, Holdings Channel reports. The fund owned 91,729 shares of the company’s stock after selling 5,007 shares during the period. Principal Financial Group Inc.’s holdings in Shoe Carnival were worth $4,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Shoe Carnival in the second quarter valued at about $41,000. Everence Capital Management Inc. acquired a new stake in Shoe Carnival during the third quarter worth approximately $224,000. Summit Global Investments acquired a new stake in Shoe Carnival during the second quarter worth approximately $244,000. EMC Capital Management boosted its holdings in shares of Shoe Carnival by 11.9% during the first quarter. EMC Capital Management now owns 7,468 shares of the company’s stock worth $274,000 after acquiring an additional 793 shares during the period. Finally, Creative Planning acquired a new position in shares of Shoe Carnival in the second quarter valued at approximately $281,000. Institutional investors and hedge funds own 66.05% of the company’s stock.

Shoe Carnival Stock Up 1.1 %

Shares of Shoe Carnival stock opened at $33.85 on Friday. The stock has a market capitalization of $919.70 million, a price-to-earnings ratio of 12.00 and a beta of 1.56. Shoe Carnival, Inc. has a twelve month low of $22.75 and a twelve month high of $46.92. The company has a 50-day simple moving average of $38.92 and a two-hundred day simple moving average of $38.67.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $332.70 million during the quarter, compared to the consensus estimate of $331.45 million. Shoe Carnival had a net margin of 6.26% and a return on equity of 13.26%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share. On average, sell-side analysts anticipate that Shoe Carnival, Inc. will post 2.54 earnings per share for the current fiscal year.

Shoe Carnival Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Monday, October 7th. Shoe Carnival’s payout ratio is currently 19.15%.

Wall Street Analyst Weigh In

Separately, Williams Trading boosted 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 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.