Barclays PLC Boosts Stock Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Barclays PLC boosted its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 189.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,342 shares of the company's stock after acquiring an additional 19,868 shares during the quarter. Barclays PLC owned 0.11% of Shoe Carnival worth $1,330,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new position in shares of Shoe Carnival in the third quarter worth $62,000. Quarry LP purchased a new position in Shoe Carnival in the 3rd quarter worth about $66,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Shoe Carnival during the 3rd quarter valued at about $76,000. FMR LLC boosted its holdings in shares of Shoe Carnival by 8.7% during the 3rd quarter. FMR LLC now owns 4,266 shares of the company's stock valued at $187,000 after acquiring an additional 343 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of Shoe Carnival in the third quarter worth approximately $224,000. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Shoe Carnival

In other news, Chairman Wayne J. Weaver purchased 285,500 shares of the stock in a transaction on Friday, December 6th. The shares were acquired at an average price of $33.91 per share, with a total value of $9,681,305.00. Following the completion of the acquisition, the chairman now directly owns 4,173,529 shares of the company's stock, valued at $141,524,368.39. This trade represents a 7.34 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 34.70% of the company's stock.

Analyst Ratings Changes

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 Price Performance

Shares of SCVL opened at $30.35 on Monday. The firm has a market capitalization of $824.76 million, a P/E ratio of 11.16 and a beta of 1.52. Shoe Carnival, Inc. has a one year low of $24.94 and a one year high of $46.92. The business has a fifty day moving average of $34.49 and a 200 day moving average of $38.03.

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

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

Shoe Carnival Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Monday, January 13th will be given a $0.135 dividend. The ex-dividend date of this dividend is Monday, January 13th. This represents a $0.54 annualized dividend and a yield of 1.78%. Shoe Carnival's payout ratio is presently 19.85%.

Shoe Carnival 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.