Principal Financial Group Inc. Sells 5,007 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Principal Financial Group Inc. trimmed its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,729 shares of the company’s stock after selling 5,007 shares during the quarter. Principal Financial Group Inc. owned approximately 0.34% of Shoe Carnival worth $4,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. American Century Companies Inc. grew 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 acquiring an additional 105,818 shares during the last quarter. Millennium Management LLC boosted its stake in Shoe Carnival by 726.1% in the second quarter. Millennium Management LLC now owns 101,831 shares of the company’s stock worth $3,757,000 after purchasing an additional 89,504 shares in the last quarter. Maverick Capital Ltd. grew its holdings in shares of Shoe Carnival by 98.9% during the second quarter. Maverick Capital Ltd. now owns 56,790 shares of the company’s stock worth $2,095,000 after purchasing an additional 28,233 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Shoe Carnival by 69.2% in the third quarter. Pinnacle Associates Ltd. now owns 46,540 shares of the company’s stock valued at $2,041,000 after buying an additional 19,030 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Shoe Carnival during the first quarter worth approximately $335,000. Institutional investors and hedge funds own 66.05% of the company’s stock.

Shoe Carnival Trading Up 1.1 %

SCVL stock opened at $33.85 on Friday. The stock has a 50-day moving average price of $38.92 and a two-hundred day moving average price of $38.67. Shoe Carnival, Inc. has a 1 year low of $22.75 and a 1 year high of $46.92. The stock has a market cap of $919.70 million, a PE ratio of 12.00 and a beta of 1.56.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The business had revenue of $332.70 million for the quarter, compared to analyst estimates of $331.45 million. Shoe Carnival had a return on equity of 13.26% and a net margin of 6.26%. Shoe Carnival’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 EPS. On average, analysts forecast that Shoe Carnival, Inc. will post 2.54 earnings per share for the current fiscal year.

Shoe Carnival Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.54 annualized dividend and a yield of 1.60%. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.15%.

Wall Street Analyst Weigh In

Separately, Williams Trading increased their price objective on shares of Shoe Carnival from $42.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, August 29th.

Shoe Carnival Company 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.