Shoe Carnival (NASDAQ:SCVL) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Shoe Carnival (NASDAQ:SCVL – Get Rating) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the stock.

Shoe Carnival Stock Performance

Shares of Shoe Carnival stock opened at $23.70 on Thursday. The firm has a fifty day moving average of $26.62 and a two-hundred day moving average of $24.62. The stock has a market capitalization of $643.93 million, a price-to-earnings ratio of 6.09 and a beta of 1.43. Shoe Carnival has a 52 week low of $19.42 and a 52 week high of $34.06.

Hedge Funds Weigh In On Shoe Carnival

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. grew its holdings in shares of Shoe Carnival by 14.5% in the 4th quarter. Alliancebernstein L.P. now owns 22,236 shares of the company’s stock valued at $532,000 after buying an additional 2,817 shares during the period. State of Tennessee Treasury Department boosted its stake in Shoe Carnival by 88.0% in the 4th quarter. State of Tennessee Treasury Department now owns 12,872 shares of the company’s stock worth $308,000 after purchasing an additional 6,025 shares during the period. Legal & General Group Plc boosted its stake in Shoe Carnival by 2.6% in the 4th quarter. Legal & General Group Plc now owns 41,446 shares of the company’s stock worth $991,000 after purchasing an additional 1,048 shares during the period. Millennium Management LLC boosted its stake in Shoe Carnival by 38.8% in the 4th quarter. Millennium Management LLC now owns 630,822 shares of the company’s stock worth $15,083,000 after purchasing an additional 176,202 shares during the period. Finally, Morgan Stanley boosted its stake in Shoe Carnival by 22.0% in the 4th quarter. Morgan Stanley now owns 415,169 shares of the company’s stock worth $9,927,000 after purchasing an additional 74,840 shares during the period. Institutional investors and hedge funds own 65.33% of the company’s stock.

About Shoe Carnival

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Shoe Carnival, Inc engages in the retail of footwear products. It offers casual and athletic footwear for men, women, and children under the Skechers, Clarks, Adidas, Crocs, New Balance, Converse, Roxy, Nike, Vans, Madden Girl, Sperry, Rampage, Keds, PUMA, Timberland, Koolaburra, Jellypop, and ASICS brands.