Shoe Carnival, Inc. (NASDAQ:SCVL) Stock Position Lifted by Empowered Funds LLC

Empowered Funds LLC raised its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 5.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 136,043 shares of the company’s stock after purchasing an additional 6,584 shares during the quarter. Empowered Funds LLC’s holdings in Shoe Carnival were worth $4,500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCVL. Pacer Advisors Inc. acquired a new position in shares of Shoe Carnival in the third quarter worth $37,440,000. Hodges Capital Management Inc. grew its stake in Shoe Carnival by 20.0% in the fourth quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company’s stock valued at $19,236,000 after purchasing an additional 96,753 shares in the last quarter. Victory Capital Management Inc. increased its position in Shoe Carnival by 138.3% in the 3rd quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock worth $2,598,000 after purchasing an additional 34,382 shares during the last quarter. Copeland Capital Management LLC raised its stake in shares of Shoe Carnival by 2.5% during the 4th quarter. Copeland Capital Management LLC now owns 1,204,443 shares of the company’s stock worth $39,843,000 after purchasing an additional 29,280 shares in the last quarter. Finally, Petrus Trust Company LTA lifted its holdings in shares of Shoe Carnival by 134.3% during the 3rd quarter. Petrus Trust Company LTA now owns 37,926 shares of the company’s stock valued at $1,663,000 after buying an additional 21,737 shares during the last quarter. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a report on Saturday, November 30th.

Insider Activity

In other news, Chairman Wayne J. Weaver acquired 285,500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average cost of $33.91 per share, with a total value of $9,681,305.00. Following the acquisition, the chairman now owns 4,173,529 shares in the company, valued at approximately $141,524,368.39. This represents a 7.34 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 34.70% of the company’s stock.

Shoe Carnival Trading Down 0.3 %

SCVL stock opened at $25.49 on Wednesday. The firm has a market cap of $692.56 million, a PE ratio of 9.37 and a beta of 1.50. Shoe Carnival, Inc. has a 1 year low of $24.84 and a 1 year high of $46.92. The company has a fifty day simple moving average of $31.29 and a 200 day simple moving average of $36.45.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Thursday, November 21st. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The company had revenue of $306.90 million during the quarter, compared to analysts’ expectations of $316.97 million. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. As a group, analysts forecast that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

Shoe Carnival Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, January 13th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Monday, January 13th. This represents a $0.54 annualized dividend and a yield of 2.12%. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.85%.

Shoe Carnival announced that its board has initiated a share buyback plan on Thursday, December 12th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 5.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Shoe Carnival Profile

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.