Copeland Capital Management LLC Reduces Position in Shoe Carnival, Inc. $SCVL

Copeland Capital Management LLC reduced its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,624,827 shares of the company’s stock after selling 93,274 shares during the period. Copeland Capital Management LLC owned approximately 5.94% of Shoe Carnival worth $33,780,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. First Horizon Advisors Inc. raised its holdings in Shoe Carnival by 33.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,923 shares of the company’s stock valued at $36,000 after acquiring an additional 486 shares during the last quarter. CWM LLC increased its holdings in shares of Shoe Carnival by 44.5% in the second quarter. CWM LLC now owns 5,610 shares of the company’s stock valued at $105,000 after purchasing an additional 1,727 shares during the last quarter. GAMMA Investing LLC lifted its position in Shoe Carnival by 162.5% during the second quarter. GAMMA Investing LLC now owns 6,590 shares of the company’s stock worth $123,000 after buying an additional 4,080 shares in the last quarter. AlphaQuest LLC boosted its stake in Shoe Carnival by 82.2% during the first quarter. AlphaQuest LLC now owns 6,418 shares of the company’s stock worth $141,000 after buying an additional 2,896 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Shoe Carnival during the second quarter worth $146,000. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Andrea R. Guthrie sold 2,477 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $20.20, for a total transaction of $50,035.40. Following the completion of the transaction, the director directly owned 24,405 shares of the company’s stock, valued at approximately $492,981. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 35.50% of the company’s stock.

Shoe Carnival Stock Performance

Shares of SCVL stock opened at $17.41 on Tuesday. The stock has a market capitalization of $476.69 million, a P/E ratio of 8.29 and a beta of 1.32. Shoe Carnival, Inc. has a fifty-two week low of $15.21 and a fifty-two week high of $35.41. The company has a 50 day moving average price of $17.80 and a 200 day moving average price of $19.96.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Thursday, November 20th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. Shoe Carnival had a net margin of 5.06% and a return on equity of 8.75%. The business had revenue of $297.16 million during the quarter, compared to the consensus estimate of $295.25 million. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. On average, research analysts forecast that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

Shoe Carnival declared that its board has approved a stock repurchase program on Friday, December 12th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 9.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Shoe Carnival Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Monday, January 12th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a $0.60 dividend on an annualized basis and a yield of 3.4%. Shoe Carnival’s dividend payout ratio (DPR) is currently 28.57%.

Analysts Set New Price Targets

SCVL has been the topic of several analyst reports. Wall Street Zen upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of Shoe Carnival in a report on Monday, December 22nd. Finally, Zacks Research lowered shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

About Shoe Carnival

Shoe Carnival, Inc (NASDAQ: SCVL) is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.

Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.