Fmr LLC Acquires 343 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Fmr LLC grew its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 8.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,266 shares of the company’s stock after acquiring an additional 343 shares during the period. Fmr LLC’s holdings in Shoe Carnival were worth $187,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Shoe Carnival during the 2nd quarter worth about $41,000. Rhumbline Advisers increased its position in shares of Shoe Carnival by 0.7% during the second quarter. Rhumbline Advisers now owns 56,711 shares of the company’s stock valued at $2,092,000 after buying an additional 394 shares during the period. Victory Capital Management Inc. increased its position in shares of Shoe Carnival by 11.3% during the second quarter. Victory Capital Management Inc. now owns 24,857 shares of the company’s stock valued at $917,000 after buying an additional 2,530 shares during the period. American Century Companies Inc. lifted its holdings in shares of Shoe Carnival by 34.7% in the second quarter. American Century Companies Inc. now owns 410,355 shares of the company’s stock worth $15,138,000 after buying an additional 105,818 shares in the last quarter. Finally, BOKF NA boosted its position in shares of Shoe Carnival by 68.6% in the second quarter. BOKF NA now owns 14,029 shares of the company’s stock valued at $518,000 after acquiring an additional 5,707 shares during the period. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Williams Trading upped their target price on shares of Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. StockNews.com raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a report on Saturday, November 30th.

Shoe Carnival Trading Up 1.9 %

Shares of SCVL opened at $34.65 on Friday. Shoe Carnival, Inc. has a 12-month low of $24.94 and a 12-month high of $46.92. The company has a market cap of $941.61 million, a PE ratio of 12.74 and a beta of 1.53. The stock has a 50-day moving average price of $35.67 and a 200-day moving average price of $38.45.

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

Shoe Carnival Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Monday, January 13th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Monday, January 13th. Shoe Carnival’s dividend payout ratio (DPR) is currently 19.85%.

Shoe Carnival declared that its board has approved a stock repurchase program 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 programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

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 shares were bought 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 34.70% of the company’s stock.

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.