Bank of America Corp DE Decreases Stock Holdings in Shoe Carnival, Inc. (NASDAQ:SCVL)

Bank of America Corp DE decreased its holdings in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 31.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 31,442 shares of the company’s stock after selling 14,101 shares during the period. Bank of America Corp DE’s holdings in Shoe Carnival were worth $1,040,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new position in Shoe Carnival in the 4th quarter valued at $99,000. SG Americas Securities LLC purchased a new position in Shoe Carnival in the 4th quarter valued at $178,000. 1492 Capital Management LLC purchased a new position in Shoe Carnival in the 4th quarter valued at $215,000. Price T Rowe Associates Inc. MD lifted its holdings in Shoe Carnival by 17.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,795 shares of the company’s stock valued at $225,000 after purchasing an additional 987 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Shoe Carnival in the 4th quarter valued at $233,000. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Shoe Carnival Stock Performance

Shares of SCVL stock opened at $19.59 on Friday. The stock’s fifty day moving average is $18.81 and its two-hundred day moving average is $25.06. The firm has a market capitalization of $535.43 million, a P/E ratio of 7.20 and a beta of 1.41. Shoe Carnival, Inc. has a fifty-two week low of $16.14 and a fifty-two week high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings data on Friday, May 30th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $277.72 million for the quarter, compared to analyst estimates of $285.16 million. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. On average, equities analysts forecast that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Monday, April 7th. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.14. Shoe Carnival’s payout ratio is currently 25.10%.

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. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.