Avantax Advisory Services Inc. Decreases Holdings in Shoe Carnival, Inc. (NASDAQ:SCVL)

Avantax Advisory Services Inc. cut its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 9.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,388 shares of the company’s stock after selling 1,582 shares during the period. Avantax Advisory Services Inc. owned about 0.05% of Shoe Carnival worth $316,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Copeland Capital Management LLC raised its stake in Shoe Carnival by 16.2% during the 1st quarter. Copeland Capital Management LLC now owns 1,399,330 shares of the company’s stock valued at $30,771,000 after buying an additional 194,887 shares during the last quarter. Vanguard Group Inc. raised its stake in Shoe Carnival by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,397,109 shares of the company’s stock valued at $46,216,000 after buying an additional 8,826 shares during the last quarter. Invesco Ltd. raised its stake in Shoe Carnival by 10.1% during the 4th quarter. Invesco Ltd. now owns 880,047 shares of the company’s stock valued at $29,112,000 after buying an additional 80,871 shares during the last quarter. New South Capital Management Inc. raised its stake in Shoe Carnival by 189.9% during the 1st quarter. New South Capital Management Inc. now owns 699,824 shares of the company’s stock valued at $15,389,000 after buying an additional 458,412 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Shoe Carnival by 4.7% during the 4th quarter. Northern Trust Corp now owns 507,661 shares of the company’s stock valued at $16,793,000 after buying an additional 22,859 shares during the last quarter. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Shoe Carnival Price Performance

Shares of SCVL stock opened at $20.55 on Friday. Shoe Carnival, Inc. has a 1 year low of $16.14 and a 1 year high of $46.92. The firm has a fifty day moving average price of $20.38 and a 200-day moving average price of $21.17. The company has a market cap of $561.84 million, a price-to-earnings ratio of 8.60 and a beta of 1.46.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Friday, May 30th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Shoe Carnival had a net margin of 5.58% and a return on equity of 10.43%. The firm had revenue of $277.72 million during the quarter, compared to the consensus estimate of $285.16 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. Equities research analysts expect that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.9%. Shoe Carnival’s payout ratio is presently 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.