Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 1.24MM shares of Shoe Carnival, Inc. (SCVL). This represents 4.58% of the company.
In their previous filing dated February 10, 2022 they reported 1.43MM shares and 5.08% of the company, a decrease in shares of 12.93% and a decrease in total ownership of 0.50% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 54.88% Upside
As of February 7, 2023, the average one-year price target for Shoe Carnival is $42.84. The forecasts range from a low of $31.31 to a high of $57.75. The average price target represents an increase of 54.88% from its latest reported closing price of $27.66.
The projected annual revenue for Shoe Carnival is $1,308MM, an increase of 1.80%. The projected annual EPS is $4.05, an increase of 3.13%.
What is the Fund Sentiment?
There are 426 funds or institutions reporting positions in Shoe Carnival. This is a decrease of 26 owner(s) or 5.75% in the last quarter. Average portfolio weight of all funds dedicated to SCVL is 0.10%, an increase of 9.90%. Total shares owned by institutions increased in the last three months by 2.13% to 21,151K shares. The put/call ratio of SCVL is 0.45, indicating a bullish outlook.
What are large shareholders doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,251K shares representing 4.61% ownership of the company. In it's prior filing, the firm reported owning 1,195K shares, representing an increase of 4.54%. The firm increased its portfolio allocation in SCVL by 5.48% over the last quarter.
Copeland Capital Management holds 1,135K shares representing 4.18% ownership of the company. In it's prior filing, the firm reported owning 1,058K shares, representing an increase of 6.78%. The firm decreased its portfolio allocation in SCVL by 60.88% over the last quarter.
Royce & Associates holds 681K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 682K shares, representing a decrease of 0.04%. The firm increased its portfolio allocation in SCVL by 8.94% over the last quarter.
DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 668K shares representing 2.46% ownership of the company. In it's prior filing, the firm reported owning 540K shares, representing an increase of 19.12%. The firm increased its portfolio allocation in SCVL by 35.35% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 481K shares representing 1.77% ownership of the company. In it's prior filing, the firm reported owning 386K shares, representing an increase of 19.59%. The firm increased its portfolio allocation in SCVL by 28.41% over the last quarter.
Shoe Carnival Declares $0.09 Dividend
On September 23, 2022 the company declared a regular quarterly dividend of $0.09 per share ($0.36 annualized). Shareholders of record as of October 3, 2022 received the payment on October 18, 2022. Previously, the company paid $0.09 per share.
At the current share price of $27.66 / share, the stock's dividend yield is 1.30%. Looking back five years and taking a sample every week, the average dividend yield has been 1.08%, the lowest has been 0.41%, and the highest has been 2.12%. The standard deviation of yields is 0.28 (n=237).
The current dividend yield is 0.79 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 1.12%, demonstrating that it has increased its dividend over time.
Shoe Carnival Background Information
(This description is provided by the company.)
Headquartered in Evansville, IN, Shoe Carnival, Inc. is one of the nation’s largest family footwear retailers, offering a broad assortment of moderately priced dress, casual and athletic footwear for men, women and children with emphasis on national name brands. As of December 17, 2020, the Company operates 383 stores in 35 states and Puerto Rico, and offers online shopping at www.shoecarnival.com.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
