Foundry Partners LLC Boosts Stake in Shoe Carnival, Inc. by 100% in 1st Quarter
July 31, 2023 – Foundry Partners LLC has increased its position in Shoe Carnival, Inc. by a staggering 100% during the first quarter of this year, according to the latest disclosure filed with the Securities & Exchange Commission (SEC). The institutional investor now owns an impressive 308,346 shares of Shoe Carnival stock after acquiring an additional 154,146 shares over the three-month period. As of its most recent filing with the SEC, Foundry Partners LLC’s stake represents approximately 1.13% of Shoe Carnival’s total market value, which is estimated at $7,909,000.
Shoe Carnival, Inc., along with its subsidiaries, operates as a prominent family footwear retailer across the United States. With a diverse range of products encompassing dress shoes, casual shoes, work shoes, athletic shoes, sandals, and boots for men, women, and children—Shoe Carnival caters to customers of all ages and preferences. In addition to footwear offerings, the company also provides various accessories to complement their extensive selection.
In line with current market trends and evolution towards e-commerce dominance within retail sectors globally, Shoe Carnival offers an online shopping platform on their website shoecarnival.com. Additionally, they have tapped into the growing popularity of mobile applications for shopping purposes.
On Friday, shares of Shoe Carnival (NASDAQ: SCVL) experienced a minor surge in trading activity as they rose by $0.59 to reach $26.39 per share on NASDAQ exchange. A total of 245,714 shares were traded during this session compared to an average daily volume of approximately 339,179 shares traded. With a market capitalization valued at around $721.40 million and a price-to-earnings ratio standing at 7.15 alongside a beta factor of 1.44, Shoe Carnival remains a competitive player in the industry.
The company’s performance over the past year has showcased a one-year low of $19.24 per share and a one-year high of $29.47 per share, proving resilience in an ever-changing market landscape. The 50-day moving average price for Shoe Carnival, Inc. is currently recorded at $22.56, while the two-hundred-day moving average stands at $24.47.
Shoe Carnival’s ability to adapt to shifting consumer behavior and preferences will play a crucial role in their success going forward. With a focus on providing an exceptional shopping experience whether in-store or online, they aim to maintain their status as a leading family footwear retailer nationwide.
In conclusion, Foundry Partners LLC’s notable increase in its stake in Shoe Carnival highlights their confidence in the company’s potential for growth and success within the footwear retail sector. With an expanding digital presence and a wide range of high-quality products available, Shoe Carnival is well-positioned to continue captivating customers across all demographics for years to come.
Disclaimer: This article is intended for informational purposes only and should not be construed as investment advice. Users should conduct their research and seek professional guidance before making any investment decisions based on the information provided above.
Shoe Carnival, Inc.
Updated on: 05/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
8:00 PM (UTC)
Date:04 December, 2023
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Shoe Carnival: A Steady Path to Success and Investor Confidence
Shoe Carnival: A Fascinating Journey of Success and Investor Interest
31st July 2023
Shoe Carnival, Inc. has emerged as a prominent family footwear retailer in the United States. The company, renowned for its wide variety of shoes and accessories, operates both brick-and-mortar stores as well as an efficient online platform. With a strong focus on customer satisfaction, Shoe Carnival strives to meet the diverse needs of individuals across all age groups.
In recent times, Shoe Carnival’s performance in the market has piqued the interest of several hedge funds and institutional investors. Zurcher Kantonalbank Zurich Cantonalbank has significantly increased its stake in the company by 52% during the fourth quarter. This move showcases their confidence in Shoe Carnival’s potential for growth. Captrust Financial Advisors also raised its holdings by 54.3% during the first quarter, indicating their faith in the company’s positive trajectory.
Another noteworthy addition to Shoe Carnival’s investor list is Point72 Hong Kong Ltd, which augmented its holdings by 14.8% during the second quarter. Furthermore, Teachers Retirement System of The State of Kentucky made a strategic decision to purchase a new position worth approximately $127,000 in Shoe Carnival during the third quarter of last year. These developments demonstrate that institutional investors recognize the value and potential profitability that lie within this dynamic retail company.
The industry has seen favorable research analyst reports on Shoe Carnival’s prospects as well. However, Williams Trading recently revised its rating from “buy” to “hold” in May 2023 due to factors undisclosed at press time. Nonetheless, StockNews.com initiated coverage on Shoe Carnival with a “hold” rating on May 18th.
Despite recent fluctuations in investor interest and analyst assessments, it is important to note that financial performance remains crucial for any entity looking to maintain market dominance and shareholder trust. On May 24th this year, Shoe Carnival declared its quarterly earnings and reported an EPS (earnings per share) of $0.60. While this fell short of the consensus estimate of $0.72 by ($0.12), Shoe Carnival displayed a commendable net margin of 8.13% and an impressive return on equity figure of 19.43%. The company further recorded revenue of $281.18 million for the quarter, slightly below analyst expectations of $292.20 million.
Interestingly, Shoe Carnival also announced a quarterly dividend payment, which was disbursed to shareholders on July 19th this year. Investors who held shares as of July 5th received a dividend amounting to $0.10 per share, leading to an annualized dividend of $0.40 and a favorable dividend yield of 1.52%. Importantly, the ex-dividend date for this particular payment was observed on July 3rd.
As we assess the journey and accomplishments of Shoe Carnival since its inception, it is evident that the company has resonated with consumers across the nation through its commitment to offering quality products and excellent customer service levels. While investor sentiment may fluctuate due to economic conditions or changing market dynamics, Shoe Carnival’s enduring reputation as a reliable footwear retailer remains intact.
Moving forward into the rest of the financial year, research analysts predict that Shoe Carnival Inc., will post an impressive 3.6 earnings per share figure, indicating that the company holds considerable potential for lucrative returns in upcoming quarters.
In conclusion, it is apparent that Shoe Carnival’s growth trajectory has attracted interest from hedge funds and institutional investors alike. With its diverse range of shoes and accessories available through both physical stores and e-commerce platforms, coupled with strong financial performance indicators demonstrated in recent quarterly reports, Shoe Carnival appears well-positioned for steady growth in the ever-evolving retail landscape.