Empowered Funds LLC Buys Shares of 113,428 Shoe Carnival, Inc. $SHOE

Empowered Funds LLC purchased a new stake in shares of Shoe Carnival, Inc. (NASDAQ:SHOE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 113,428 shares of the company’s stock, valued at approximately $1,682,000.

Other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of Shoe Carnival in the 4th quarter worth about $28,000. Huntington National Bank boosted its stake in Shoe Carnival by 45.5% during the 4th quarter. Huntington National Bank now owns 2,169 shares of the company’s stock valued at $37,000 after purchasing an additional 678 shares during the period. Kestra Advisory Services LLC bought a new position in Shoe Carnival in the 4th quarter worth about $44,000. Legal & General Group Plc bought a new position in Shoe Carnival in the 2nd quarter worth about $56,000. Finally, State of Wyoming acquired a new stake in shares of Shoe Carnival in the second quarter valued at approximately $61,000. Institutional investors own 66.05% of the company’s stock.

Shoe Carnival Trading Up 1.2%

Shares of NASDAQ SHOE opened at $13.65 on Friday. The company has a market capitalization of $370.60 million, a PE ratio of 10.11 and a beta of 1.40. The company’s 50-day moving average is $15.03. Shoe Carnival, Inc. has a fifty-two week low of $12.78 and a fifty-two week high of $26.57.

Shoe Carnival (NASDAQ:SHOE) last announced its earnings results on Thursday, May 21st. The company reported $0.23 earnings per share (EPS) for the quarter. The firm had revenue of $270.73 million during the quarter. Shoe Carnival had a net margin of 3.31% and a return on equity of 7.24%. Analysts expect that Shoe Carnival, Inc. will post 1.5 EPS for the current year.

Shoe Carnival Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 6th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Monday, July 6th. Shoe Carnival’s dividend payout ratio is currently 50.37%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SHOE. Weiss Ratings began coverage on Shoe Carnival in a report on Monday, June 15th. They set a “hold (c-)” rating on the stock. Zacks Research cut Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.00.

Shoe Carnival Profile

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.