First Eagle Investment Management LLC Sells 64,700 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

First Eagle Investment Management LLC lowered its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 16.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 329,044 shares of the company’s stock after selling 64,700 shares during the period. First Eagle Investment Management LLC owned approximately 1.21% of Shoe Carnival worth $12,138,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SCVL. Hsbc Holdings PLC raised its stake in shares of Shoe Carnival by 21.3% in the second quarter. Hsbc Holdings PLC now owns 9,293 shares of the company’s stock valued at $338,000 after purchasing an additional 1,634 shares in the last quarter. BOKF NA raised its stake in shares of Shoe Carnival by 68.6% in the 2nd quarter. BOKF NA now owns 14,029 shares of the company’s stock valued at $518,000 after buying an additional 5,707 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of 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 acquiring an additional 105,818 shares during the period. Victory Capital Management Inc. boosted its position in shares of Shoe Carnival by 11.3% during the 2nd quarter. Victory Capital Management Inc. now owns 24,857 shares of the company’s stock valued at $917,000 after acquiring an additional 2,530 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Shoe Carnival by 0.7% in the second quarter. Rhumbline Advisers now owns 56,711 shares of the company’s stock valued at $2,092,000 after acquiring an additional 394 shares during the period. Institutional investors own 66.05% of the company’s stock.

Shoe Carnival Stock Up 2.7 %

Shoe Carnival stock opened at $45.82 on Friday. The business’s 50-day simple moving average is $40.87 and its 200 day simple moving average is $37.14. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 16.91 and a beta of 1.53. Shoe Carnival, Inc. has a 12-month low of $21.18 and a 12-month high of $46.49.

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

Shoe Carnival Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be given a dividend of $0.135 per share. The ex-dividend date is Monday, October 7th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.18%. Shoe Carnival’s dividend payout ratio is 19.93%.

Analysts Set New Price Targets

Separately, Williams Trading lifted their price objective on Shoe Carnival from $42.00 to $51.00 and gave the company a “buy” rating in a 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.