Shoe Carnival, Inc. (NASDAQ:SCVL – Get Rating) – Seaport Res Ptn cut their Q3 2023 earnings per share (EPS) estimates for shares of Shoe Carnival in a report issued on Monday, November 14th. Seaport Res Ptn analyst M. Kummetz now forecasts that the company will post earnings of $1.18 per share for the quarter, down from their prior estimate of $1.19. The consensus estimate for Shoe Carnival’s current full-year earnings is $3.86 per share. Seaport Res Ptn also issued estimates for Shoe Carnival’s Q4 2023 earnings at $0.73 EPS.
Separately, StockNews.com began coverage on Shoe Carnival in a research note on Wednesday, October 12th. They set a “hold” rating on the stock.
Shoe Carnival Price Performance
Shoe Carnival (NASDAQ:SCVL – Get Rating) last announced its earnings results on Thursday, August 25th. The company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). Shoe Carnival had a net margin of 9.48% and a return on equity of 27.73%. The business had revenue of $312.27 million for the quarter, compared to the consensus estimate of $351.16 million. During the same quarter in the previous year, the company earned $1.54 EPS.
Hedge Funds Weigh In On Shoe Carnival
Several institutional investors and hedge funds have recently bought and sold shares of SCVL. Northwestern Mutual Wealth Management Co. boosted its stake in Shoe Carnival by 164.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,000 shares of the company’s stock valued at $58,000 after buying an additional 1,244 shares during the period. Captrust Financial Advisors boosted its stake in Shoe Carnival by 54.3% during the first quarter. Captrust Financial Advisors now owns 2,278 shares of the company’s stock valued at $66,000 after buying an additional 802 shares during the period. First Horizon Advisors Inc. raised its position in Shoe Carnival by 2,011.6% during the second quarter. First Horizon Advisors Inc. now owns 3,273 shares of the company’s stock valued at $70,000 after purchasing an additional 3,118 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Shoe Carnival by 18.4% during the third quarter. Mutual of America Capital Management LLC now owns 3,403 shares of the company’s stock valued at $73,000 after purchasing an additional 530 shares in the last quarter. Finally, Point72 Hong Kong Ltd raised its position in Shoe Carnival by 14.8% during the second quarter. Point72 Hong Kong Ltd now owns 4,661 shares of the company’s stock valued at $101,000 after purchasing an additional 602 shares in the last quarter. 64.04% of the stock is owned by institutional investors.
Insider Activity at Shoe Carnival
In related news, Director Andrea R. Guthrie sold 1,665 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $24.04, for a total transaction of $40,026.60. Following the completion of the sale, the director now directly owns 26,398 shares of the company’s stock, valued at $634,607.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 32.60% of the stock is currently owned by company insiders.
Shoe Carnival Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 18th. Investors of record on Tuesday, October 4th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Monday, October 3rd. Shoe Carnival’s payout ratio is 8.28%.
About Shoe Carnival
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. As of January 29, 2022, it operated 372 stores in 35 states and Puerto Rico under the Shoe Carnival banner; and 21 locations across the Southeast under the Shoe Station banner.
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