Tectonic Advisors LLC Increases Stock Holdings in Shoe Carnival, Inc. (NASDAQ:SCVL)

Tectonic Advisors LLC grew its position in Shoe Carnival, Inc. (NASDAQ:SCVL) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,986 shares of the company’s stock after buying an additional 1,056 shares during the quarter. Tectonic Advisors LLC’s holdings in Shoe Carnival were worth $2,148,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its position in Shoe Carnival by 34.7% during the 2nd quarter. American Century Companies Inc. now owns 410,355 shares of the company’s stock worth $15,138,000 after purchasing an additional 105,818 shares in the last quarter. Millennium Management LLC boosted its stake in Shoe Carnival by 726.1% in 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 during the last quarter. Empowered Funds LLC boosted its stake in Shoe Carnival by 40.4% in the 1st quarter. Empowered Funds LLC now owns 114,073 shares of the company’s stock worth $4,180,000 after buying an additional 32,827 shares during the last quarter. Maverick Capital Ltd. boosted its stake in Shoe Carnival by 98.9% in 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Shoe Carnival by 16.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 190,953 shares of the company’s stock worth $6,997,000 after buying an additional 27,404 shares during the last quarter. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Shoe Carnival Stock Down 1.2 %

NASDAQ:SCVL opened at $35.59 on Friday. The business’s 50 day moving average is $41.10 and its two-hundred day moving average is $38.37. Shoe Carnival, Inc. has a 52 week low of $21.18 and a 52 week high of $46.92. The company has a market cap of $966.55 million, a PE ratio of 13.13 and a beta of 1.53.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. The business had revenue of $332.70 million for the quarter, compared to the consensus estimate of $331.45 million. Shoe Carnival had a return on equity of 13.26% and a net margin of 6.26%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $0.71 EPS. As a group, sell-side analysts expect that Shoe Carnival, Inc. will post 2.65 EPS for the current fiscal year.

Shoe Carnival Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Monday, October 7th. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.93%.

Analyst Upgrades and Downgrades

Separately, Williams Trading lifted their price target on shares of 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 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.