Shoe Carnival, Inc. (NASDAQ:SCVL) Holdings Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 3.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 95,181 shares of the company’s stock after purchasing an additional 3,452 shares during the quarter. Principal Financial Group Inc. owned 0.35% of Shoe Carnival worth $3,149,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Harvest Fund Management Co. Ltd acquired a new stake in Shoe Carnival during the 3rd quarter worth about $62,000. Quarry LP bought a new position in Shoe Carnival in the 3rd quarter worth approximately $66,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Shoe Carnival during the third quarter valued at approximately $76,000. FMR LLC increased its position in shares of Shoe Carnival by 8.7% during the third quarter. FMR LLC now owns 4,266 shares of the company’s stock valued at $187,000 after purchasing an additional 343 shares during the period. Finally, Paloma Partners Management Co bought a new stake in shares of Shoe Carnival during the third quarter valued at approximately $228,000. Institutional investors and hedge funds own 66.05% of the company’s stock.

Insider Buying and Selling

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, for a total transaction of $9,681,305.00. Following the completion of the acquisition, the chairman now owns 4,173,529 shares in the company, valued at $141,524,368.39. This represents a 7.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 34.70% of the stock is owned by corporate insiders.

Shoe Carnival Stock Down 0.7 %

Shares of SCVL opened at $21.24 on Wednesday. Shoe Carnival, Inc. has a 12-month low of $20.51 and a 12-month high of $46.92. The stock’s fifty day simple moving average is $28.06 and its 200-day simple moving average is $34.74. The firm has a market capitalization of $577.20 million, a PE ratio of 7.81 and a beta of 1.50.

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

Shoe Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, January 13th were issued a $0.135 dividend. The ex-dividend date was Monday, January 13th. This represents a $0.54 annualized dividend and a dividend yield of 2.54%. Shoe Carnival’s dividend payout ratio (DPR) is currently 19.85%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Shoe Carnival from a “sell” rating to a “hold” rating in a research note 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.