Brandywine Global Investment Management LLC Invests $2.75 Million in Shoe Carnival, Inc. (NASDAQ:SCVL)

Brandywine Global Investment Management LLC bought a new position in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 83,160 shares of the company's stock, valued at approximately $2,751,000. Brandywine Global Investment Management LLC owned approximately 0.31% of Shoe Carnival at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Shoe Carnival by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,397,109 shares of the company's stock valued at $46,216,000 after purchasing an additional 8,826 shares during the last quarter. Copeland Capital Management LLC lifted its holdings in Shoe Carnival by 2.5% in the fourth quarter. Copeland Capital Management LLC now owns 1,204,443 shares of the company's stock worth $39,843,000 after purchasing an additional 29,280 shares during the period. State Street Corp lifted its stake in shares of Shoe Carnival by 2.2% in the 3rd quarter. State Street Corp now owns 793,318 shares of the company's stock worth $34,787,000 after acquiring an additional 17,086 shares during the period. Hodges Capital Management Inc. lifted its position in Shoe Carnival by 20.0% in the fourth quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company's stock worth $19,236,000 after purchasing an additional 96,753 shares during the period. Finally, American Century Companies Inc. boosted its stake in Shoe Carnival by 7.4% during the fourth quarter. American Century Companies Inc. now owns 547,366 shares of the company's stock valued at $18,107,000 after buying an additional 37,569 shares in the last quarter. Institutional investors and hedge funds own 66.05% of the company's stock.

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Shoe Carnival Price Performance

Shares of SCVL traded down $0.23 during mid-day trading on Monday, hitting $19.69. The company's stock had a trading volume of 1,011,102 shares, compared to its average volume of 351,295. The stock has a market capitalization of $535.08 million, a price-to-earnings ratio of 7.24 and a beta of 1.35. Shoe Carnival, Inc. has a fifty-two week low of $18.07 and a fifty-two week high of $46.92. The firm has a 50-day moving average price of $23.22 and a 200 day moving average price of $31.25.

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

Shoe Carnival Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.05%. This is a positive change from Shoe Carnival's previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Monday, April 7th. Shoe Carnival's payout ratio is presently 22.39%.

Shoe Carnival announced that its board has initiated a share repurchase program on Thursday, December 12th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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.