Denali Advisors LLC Purchases New Stake in Shoe Carnival, Inc. $SHOE

Denali Advisors LLC acquired a new position in shares of Shoe Carnival, Inc. (NASDAQ:SHOE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 72,422 shares of the company’s stock, valued at approximately $1,074,000.

Other institutional investors and hedge funds have also modified their holdings of the company. ProShare Advisors LLC lifted its stake in shares of Shoe Carnival by 33.1% in the 4th quarter. ProShare Advisors LLC now owns 340,912 shares of the company’s stock valued at $5,755,000 after purchasing an additional 84,861 shares during the last quarter. Meros Investment Management LP bought a new position in shares of Shoe Carnival in the 4th quarter valued at approximately $7,007,000. Sei Investments Co. lifted its holdings in Shoe Carnival by 69.7% in the 1st quarter. Sei Investments Co. now owns 155,660 shares of the company’s stock worth $2,427,000 after purchasing an additional 63,912 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Shoe Carnival by 38.6% during the 4th quarter. Royce & Associates LP now owns 577,201 shares of the company’s stock worth $9,743,000 after buying an additional 160,747 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of Shoe Carnival by 123.5% in the fourth quarter. Hsbc Holdings PLC now owns 81,871 shares of the company’s stock valued at $1,392,000 after purchasing an additional 45,246 shares during the last quarter. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Shoe Carnival Trading Down 3.7%

Shares of NASDAQ SHOE opened at $15.29 on Friday. The stock’s 50 day simple moving average is $15.38. The firm has a market capitalization of $415.12 million, a P/E ratio of 11.33 and a beta of 1.43. Shoe Carnival, Inc. has a twelve month low of $14.00 and a twelve month high of $26.57.

Shoe Carnival (NASDAQ:SHOE) last released its earnings results on Thursday, May 21st. The company reported $0.23 earnings per share for the quarter. The firm had revenue of $270.73 million during the quarter. Shoe Carnival had a return on equity of 7.24% and a net margin of 3.31%. Equities analysts forecast that Shoe Carnival, Inc. will post 1.5 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 6th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Monday, July 6th. Shoe Carnival’s dividend payout ratio is presently 50.37%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SHOE shares. Zacks Research downgraded shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Weiss Ratings assumed coverage on Shoe Carnival in a report on Monday, June 15th. They set a “hold (c-)” rating for the company. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Shoe Carnival Company Profile

Shoe Carnival, Inc (NASDAQ: SCVL) is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.

Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.