Maverick Capital Ltd. Has $2.10 Million Stake in Shoe Carnival, Inc. (NASDAQ:SCVL)

Maverick Capital Ltd. boosted its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 98.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,790 shares of the company’s stock after purchasing an additional 28,233 shares during the period. Maverick Capital Ltd. owned 0.21% of Shoe Carnival worth $2,095,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its position in Shoe Carnival by 40.4% during the first quarter. Empowered Funds LLC now owns 114,073 shares of the company’s stock valued at $4,180,000 after buying an additional 32,827 shares during the period. Wasatch Advisors LP lifted its position in shares of Shoe Carnival by 22.2% in the fourth quarter. Wasatch Advisors LP now owns 295,412 shares of the company’s stock worth $8,924,000 after purchasing an additional 53,702 shares in the last quarter. Maryland State Retirement & Pension System acquired a new stake in shares of Shoe Carnival during the first quarter worth approximately $240,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Shoe Carnival during the first quarter valued at approximately $383,000. Finally, CANADA LIFE ASSURANCE Co grew its position in Shoe Carnival by 11.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 15,369 shares of the company’s stock valued at $562,000 after purchasing an additional 1,562 shares in the last quarter. 66.05% of the stock is owned by institutional investors and hedge funds.

Shoe Carnival Price Performance

Shares of SCVL stock opened at $43.30 on Friday. Shoe Carnival, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $46.92. The stock’s 50-day moving average is $41.50 and its two-hundred day moving average is $37.65. The firm has a market cap of $1.18 billion, a P/E ratio of 15.98 and a beta of 1.53.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The firm 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 firm’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 earnings per share. As a group, research analysts expect that Shoe Carnival, Inc. will post 2.65 EPS for the current year.

Shoe Carnival Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be issued a dividend of $0.135 per share. The ex-dividend date is Monday, October 7th. This represents a $0.54 annualized dividend and a yield of 1.25%. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.93%.

Analysts Set New Price Targets

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