Sei Investments Co. Boosts Stock Holdings in Shoe Carnival, Inc. $SHOE

Sei Investments Co. raised its stake in shares of Shoe Carnival, Inc. (NASDAQ:SHOE) by 69.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,660 shares of the company’s stock after acquiring an additional 63,912 shares during the quarter. Sei Investments Co.’s holdings in Shoe Carnival were worth $2,427,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SHOE. Royal Bank of Canada grew its position in shares of Shoe Carnival by 13.0% in the 1st quarter. Royal Bank of Canada now owns 80,923 shares of the company’s stock worth $1,779,000 after buying an additional 9,298 shares during the last quarter. AQR Capital Management LLC boosted its stake in Shoe Carnival by 367.2% in the first quarter. AQR Capital Management LLC now owns 52,303 shares of the company’s stock valued at $1,150,000 after acquiring an additional 41,108 shares in the last quarter. Millennium Management LLC boosted its stake in Shoe Carnival by 215.9% in the first quarter. Millennium Management LLC now owns 321,764 shares of the company’s stock valued at $7,076,000 after acquiring an additional 219,918 shares in the last quarter. Empowered Funds LLC grew its holdings in Shoe Carnival by 3.0% in the first quarter. Empowered Funds LLC now owns 140,151 shares of the company’s stock worth $3,082,000 after purchasing an additional 4,108 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Shoe Carnival by 4.5% in the second quarter. Legal & General Group Plc now owns 46,758 shares of the company’s stock worth $875,000 after purchasing an additional 1,998 shares during the last quarter. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Shoe Carnival Stock Up 0.7%

NASDAQ SHOE opened at $15.75 on Friday. Shoe Carnival, Inc. has a fifty-two week low of $14.00 and a fifty-two week high of $26.57. The stock has a market cap of $427.61 million, a price-to-earnings ratio of 11.67 and a beta of 1.43.

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

Shoe Carnival Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.3%. The ex-dividend date was Monday, July 6th. Shoe Carnival’s payout ratio is presently 50.37%.

About Shoe Carnival

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.