Rhumbline Advisers Purchases 12,445 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Rhumbline Advisers raised its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 22.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,001 shares of the company’s stock after acquiring an additional 12,445 shares during the quarter. Rhumbline Advisers owned approximately 0.25% of Shoe Carnival worth $2,283,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SCVL. New York State Teachers Retirement System boosted its holdings in shares of Shoe Carnival by 6.0% during the 3rd quarter. New York State Teachers Retirement System now owns 23,545 shares of the company’s stock valued at $1,032,000 after acquiring an additional 1,341 shares in the last quarter. Aigen Investment Management LP bought a new position in Shoe Carnival in the third quarter valued at about $237,000. Victory Capital Management Inc. boosted its stake in shares of Shoe Carnival by 138.3% during the third quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock valued at $2,598,000 after purchasing an additional 34,382 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Shoe Carnival by 5.3% during the third quarter. Empowered Funds LLC now owns 129,459 shares of the company’s stock worth $5,677,000 after purchasing an additional 6,566 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Shoe Carnival in the third quarter valued at approximately $606,000. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Shoe Carnival Stock Down 3.4 %

NASDAQ SCVL opened at $21.38 on Tuesday. The company has a market capitalization of $581.00 million, a price-to-earnings ratio of 7.86 and a beta of 1.50. Shoe Carnival, Inc. has a twelve month low of $21.27 and a twelve month high of $46.92. The stock has a fifty day simple moving average of $28.32 and a 200 day simple moving average of $34.89.

Shoe Carnival announced that its board has approved a stock repurchase program on Thursday, December 12th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 5.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Shoe Carnival Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Monday, January 13th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Monday, January 13th. Shoe Carnival’s dividend payout ratio is presently 19.85%.

Insiders Place Their Bets

In other news, Chairman Wayne J. Weaver bought 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 transaction, the chairman now directly owns 4,173,529 shares of the company’s stock, valued at approximately $141,524,368.39. This represents a 7.34 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 34.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.