Pacer Advisors Inc. Invests $37.44 Million in Shoe Carnival, Inc. (NASDAQ:SCVL)

Pacer Advisors Inc. bought a new stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 853,825 shares of the company’s stock, valued at approximately $37,440,000.

Several other large investors have also added to or reduced their stakes in the business. American Century Companies Inc. raised its holdings in shares of Shoe Carnival by 34.7% during the second quarter. American Century Companies Inc. now owns 410,355 shares of the company’s stock valued at $15,138,000 after purchasing an additional 105,818 shares during the period. Millennium Management LLC raised its stake in Shoe Carnival by 726.1% during 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 period. Victory Capital Management Inc. raised its stake in Shoe Carnival by 138.3% during the 3rd quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock worth $2,598,000 after buying an additional 34,382 shares during the period. Maverick Capital Ltd. boosted its holdings in Shoe Carnival by 98.9% in the second quarter. Maverick Capital Ltd. now owns 56,790 shares of the company’s stock worth $2,095,000 after acquiring an additional 28,233 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in 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 acquiring an additional 19,030 shares during the period. Institutional investors and hedge funds own 66.05% of the company’s stock.

Shoe Carnival Stock Up 0.1 %

SCVL stock opened at $33.90 on Friday. The stock’s 50 day moving average is $38.92 and its 200-day moving average is $38.67. Shoe Carnival, Inc. has a twelve month low of $22.75 and a twelve month high of $46.92. The firm has a market capitalization of $921.06 million, a PE ratio of 12.46 and a beta of 1.56. The company has a quick ratio of 0.70, a current ratio of 3.88 and a debt-to-equity ratio of 0.50.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Thursday, September 5th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The company had revenue of $332.70 million during the quarter, compared to the consensus estimate of $331.45 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. Sell-side analysts expect that Shoe Carnival, Inc. will post 2.67 EPS for the current fiscal year.

Shoe Carnival Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Monday, October 7th. Shoe Carnival’s dividend payout ratio is presently 19.85%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Williams Trading upped their target price on Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. StockNews.com lowered shares of Shoe Carnival from a “hold” rating to a “sell” rating in a research note on Friday.

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.