Principal Financial Group Inc. Reduces Stake in Shoe Carnival, Inc. (SCVL)
Principal Financial Group Inc. lowered its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 9.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,996 shares of the company’s stock after selling 8,515 shares during the quarter. Principal Financial Group Inc. owned approximately 0.51% of Shoe Carnival worth $1,925,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of SCVL. Foundry Partners LLC bought a new position in shares of Shoe Carnival in the third quarter worth about $4,080,000. Northern Trust Corp lifted its holdings in shares of Shoe Carnival by 17.8% in the second quarter. Northern Trust Corp now owns 673,302 shares of the company’s stock worth $14,059,000 after acquiring an additional 101,530 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Shoe Carnival in the second quarter worth about $2,052,000. Citadel Advisors LLC bought a new position in shares of Shoe Carnival in the second quarter worth about $1,233,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Shoe Carnival by 592.8% in the second quarter. JPMorgan Chase & Co. now owns 52,365 shares of the company’s stock worth $1,094,000 after acquiring an additional 44,807 shares during the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.
SCVL has been the subject of a number of research reports. TheStreet raised shares of Shoe Carnival from a “c” rating to a “b-” rating in a report on Friday, November 17th. Zacks Investment Research raised shares of Shoe Carnival from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Tuesday, October 3rd. Susquehanna Bancshares reissued a “buy” rating and issued a $28.00 target price on shares of Shoe Carnival in a report on Friday, November 17th. Jefferies Group reissued a “hold” rating and issued a $20.00 target price (down previously from $21.00) on shares of Shoe Carnival in a report on Thursday, August 31st. Finally, Pivotal Research started coverage on shares of Shoe Carnival in a report on Tuesday, November 21st. They issued a “hold” rating and a $28.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.63.
Shoe Carnival, Inc. (NASDAQ SCVL) opened at $25.47 on Tuesday. The stock has a market cap of $436.85, a P/E ratio of 17.77, a P/E/G ratio of 1.46 and a beta of 1.06. Shoe Carnival, Inc. has a fifty-two week low of $15.07 and a fifty-two week high of $30.07.
Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Thursday, November 16th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.08. The business had revenue of $287.47 million during the quarter, compared to analyst estimates of $286.90 million. Shoe Carnival had a net margin of 2.17% and a return on equity of 7.81%. equities analysts expect that Shoe Carnival, Inc. will post 1.48 earnings per share for the current year.
In other Shoe Carnival news, Director Charles B. Tomm acquired 11,190 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was acquired at an average price of $22.69 per share, for a total transaction of $253,901.10. Following the acquisition, the director now directly owns 16,948 shares in the company, valued at $384,550.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 32.60% of the stock is owned by company insiders.
Shoe Carnival Profile
Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. It also offers online shopping on its e-commerce site at www.shoecarnival.com.
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