OxFORD Asset Management LLP boosted its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL) by 100.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,784 shares of the company’s stock after purchasing an additional 25,952 shares during the quarter. OxFORD Asset Management LLP owned about 0.30% of Shoe Carnival worth $1,152,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. purchased a new stake in Shoe Carnival in the 3rd quarter valued at $1,338,000. Schwab Charles Investment Management Inc. raised its position in Shoe Carnival by 11.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 139,075 shares of the company’s stock worth $3,113,000 after buying an additional 14,272 shares during the last quarter. Citadel Advisors LLC raised its position in Shoe Carnival by 86.0% during the 3rd quarter. Citadel Advisors LLC now owns 109,802 shares of the company’s stock worth $2,457,000 after buying an additional 50,759 shares during the last quarter. Macquarie Group Ltd. raised its position in Shoe Carnival by 104.8% during the 3rd quarter. Macquarie Group Ltd. now owns 64,500 shares of the company’s stock worth $1,444,000 after buying an additional 33,000 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Shoe Carnival by 7.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 89,684 shares of the company’s stock worth $2,009,000 after buying an additional 6,375 shares during the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.
Shares of Shoe Carnival, Inc. (NASDAQ:SCVL) traded down $1.14 on Friday, hitting $25.27. 264,422 shares of the stock were exchanged, compared to its average volume of 264,733. The stock has a market cap of $435.58, a P/E ratio of 18.45, a PEG ratio of 1.46 and a beta of 1.06. Shoe Carnival, Inc. has a 1-year low of $15.07 and a 1-year high of $28.38.
Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Thursday, November 16th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.08. The business had revenue of $287.47 million during the quarter, compared to the consensus estimate of $286.90 million. Shoe Carnival had a net margin of 2.17% and a return on equity of 7.81%. sell-side analysts forecast that Shoe Carnival, Inc. will post 1.48 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 22nd. Stockholders of record on Monday, January 8th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, January 5th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.19%. Shoe Carnival’s dividend payout ratio is presently 21.90%.
Shoe Carnival declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 19th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
SCVL has been the subject of a number of analyst reports. Wedbush restated an “outperform” rating and set a $25.00 price objective (down previously from $27.00) on shares of Shoe Carnival in a research report on Friday, November 17th. Susquehanna Bancshares upgraded 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 report on Wednesday, September 20th. Zacks Investment Research upgraded shares of Shoe Carnival from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Wednesday, September 20th. Sidoti downgraded shares of Shoe Carnival from a “buy” rating to a “neutral” rating and set a $24.00 price objective for the company. in a research report on Tuesday, October 3rd. Finally, UBS Group upgraded shares of Shoe Carnival from a “neutral” rating to a “positive” rating in a research report on Wednesday, September 20th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $25.86.
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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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