Arrowstreet Capital Limited Partnership Has $13.54 Million Stock Holdings in Shoe Carnival, Inc. (NASDAQ:SCVL)

Arrowstreet Capital Limited Partnership lifted its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 17.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 409,320 shares of the company's stock after acquiring an additional 59,603 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.51% of Shoe Carnival worth $13,540,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCVL. Quarry LP bought a new position in Shoe Carnival during the 3rd quarter valued at $66,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Shoe Carnival in the third quarter valued at $76,000. KLP Kapitalforvaltning AS bought a new position in Shoe Carnival during the fourth quarter valued at about $99,000. SG Americas Securities LLC acquired a new position in Shoe Carnival during the fourth quarter worth about $178,000. Finally, FMR LLC grew its holdings in Shoe Carnival by 8.7% during the third quarter. FMR LLC now owns 4,266 shares of the company's stock worth $187,000 after acquiring an additional 343 shares during the period. Institutional investors own 66.05% of the company's stock.

Shoe Carnival Stock Performance

NASDAQ SCVL traded up $2.19 on Wednesday, reaching $20.89. The company's stock had a trading volume of 1,243,660 shares, compared to its average volume of 357,840. Shoe Carnival, Inc. has a twelve month low of $18.07 and a twelve month high of $46.92. The firm's 50 day moving average is $22.62 and its two-hundred day moving average is $30.74. The stock has a market cap of $567.69 million, a PE ratio of 7.68 and a beta of 1.35.

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Shoe Carnival (NASDAQ:SCVL - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. The business had revenue of $262.90 million for the quarter, compared to the consensus estimate of $277.89 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The business's revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Equities research analysts anticipate that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

Shoe Carnival Increases Dividend

The business 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. This represents a $0.60 annualized dividend and a dividend yield of 2.87%. This is an increase from Shoe Carnival's previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Monday, April 7th. Shoe Carnival's dividend payout ratio is currently 22.39%.

Shoe Carnival declared that its Board of Directors has authorized a share buyback program on Thursday, December 12th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

About Shoe Carnival

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.