CIBC Private Wealth Group LLC Invests $225,000 in Shoe Carnival, Inc. (NASDAQ:SCVL)

CIBC Private Wealth Group LLC bought a new position in Shoe Carnival, Inc. (NASDAQ:SCVL) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,617 shares of the company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SCVL. Smith Asset Management Group LP purchased a new position in shares of Shoe Carnival in the fourth quarter valued at $69,000. Advisor Group Inc. increased its stake in shares of Shoe Carnival by 1,066.1% during the fourth quarter. Advisor Group Inc. now owns 2,134 shares of the company’s stock valued at $71,000 after buying an additional 1,951 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Shoe Carnival by 232.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,044 shares of the company’s stock valued at $102,000 after buying an additional 2,128 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of Shoe Carnival during the fourth quarter valued at $111,000. Finally, Oregon Public Employees Retirement Fund purchased a new position in shares of Shoe Carnival during the fourth quarter valued at $128,000. 97.10% of the stock is owned by institutional investors and hedge funds.

In other news, Director Jeffrey C. Gerstel sold 1,200 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $36.50, for a total transaction of $43,800.00. Following the sale, the director now owns 5,526 shares in the company, valued at $201,699. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.60% of the stock is owned by insiders.

Several equities analysts have recently commented on the company. ValuEngine lowered Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Wedbush reiterated an “outperform” rating and issued a $47.00 target price on shares of Shoe Carnival in a research note on Wednesday, May 15th. Zacks Investment Research lowered Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Pivotal Research reiterated a “buy” rating and issued a $45.00 target price on shares of Shoe Carnival in a research note on Wednesday, March 20th. Finally, Sidoti upgraded Shoe Carnival from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Shoe Carnival has an average rating of “Hold” and an average target price of $38.00.

SCVL opened at $26.39 on Wednesday. Shoe Carnival, Inc. has a 1 year low of $23.98 and a 1 year high of $45.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.27 and a current ratio of 2.62. The stock has a market capitalization of $375.97 million, a price-to-earnings ratio of 10.77 and a beta of 1.07.

Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Wednesday, May 22nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.06). Shoe Carnival had a net margin of 3.81% and a return on equity of 12.21%. The company had revenue of $253.80 million during the quarter, compared to analysts’ expectations of $259.24 million. During the same quarter last year, the firm earned $0.83 EPS. Shoe Carnival’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts predict that Shoe Carnival, Inc. will post 2.77 EPS for the current fiscal year.

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About Shoe Carnival

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, scarves, and wallets.

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Institutional Ownership by Quarter for Shoe Carnival (NASDAQ:SCVL)

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