Brandywine Global Investment Management LLC Makes New $2.75 Million Investment in Shoe Carnival, Inc. (NASDAQ:SCVL)

Brandywine Global Investment Management LLC purchased a new stake in Shoe Carnival, Inc. (NASDAQ:SCVL) in the 4th quarter, Holdings Channel.com reports. The fund purchased 83,160 shares of the company’s stock, valued at approximately $2,751,000.

Several other hedge funds have also made changes to their positions in SCVL. Vanguard Group Inc. increased its stake in Shoe Carnival by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,397,109 shares of the company’s stock valued at $46,216,000 after purchasing an additional 8,826 shares during the last quarter. Copeland Capital Management LLC grew its holdings in Shoe Carnival by 2.5% in the 4th quarter. Copeland Capital Management LLC now owns 1,204,443 shares of the company’s stock valued at $39,843,000 after buying an additional 29,280 shares during the period. State Street Corp increased its stake in shares of Shoe Carnival by 2.2% during the 3rd quarter. State Street Corp now owns 793,318 shares of the company’s stock valued at $34,787,000 after acquiring an additional 17,086 shares during the last quarter. Hodges Capital Management Inc. boosted its position in shares of Shoe Carnival by 20.0% in the fourth quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company’s stock worth $19,236,000 after acquiring an additional 96,753 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Shoe Carnival by 7.4% in the fourth quarter. American Century Companies Inc. now owns 547,366 shares of the company’s stock valued at $18,107,000 after purchasing an additional 37,569 shares during the period. Institutional investors and hedge funds own 66.05% of the company’s stock.

Shoe Carnival Stock Performance

Shares of SCVL stock opened at $23.00 on Thursday. The firm has a market capitalization of $625.03 million, a price-to-earnings ratio of 8.46 and a beta of 1.35. Shoe Carnival, Inc. has a one year low of $20.51 and a one year high of $46.92. The company has a 50 day moving average price of $23.78 and a 200 day moving average price of $31.85.

Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Thursday, March 20th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The business had revenue of $262.90 million for the quarter, compared to analyst estimates of $277.89 million. During the same period last year, the company posted $0.59 EPS. The business’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, equities analysts forecast that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

Shoe Carnival declared that its Board of Directors has authorized a share repurchase plan on Thursday, December 12th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 5.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Shoe Carnival Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, April 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.61%. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.14. Shoe Carnival’s payout ratio is presently 22.39%.

Shoe Carnival Company 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.