Copeland Capital Management LLC Grows Stake in Shoe Carnival, Inc. (NASDAQ:SCVL)

Copeland Capital Management LLC lifted its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,204,443 shares of the company's stock after purchasing an additional 29,280 shares during the quarter. Copeland Capital Management LLC owned about 4.43% of Shoe Carnival worth $39,843,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new stake in shares of Shoe Carnival in the 3rd quarter valued at about $37,440,000. State Street Corp boosted its holdings 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 valued at $34,787,000 after buying an additional 17,086 shares during the last quarter. Geode Capital Management LLC lifted its stake in Shoe Carnival by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 452,548 shares of the company's stock valued at $19,848,000 after purchasing an additional 10,761 shares during the last quarter. Foundry Partners LLC boosted its stake in shares of Shoe Carnival by 0.6% during the 3rd quarter. Foundry Partners LLC now owns 149,735 shares of the company's stock worth $6,566,000 after acquiring an additional 940 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Shoe Carnival by 5.3% in the third quarter. Empowered Funds LLC now owns 129,459 shares of the company's stock valued at $5,677,000 after purchasing an additional 6,566 shares during the period. Institutional investors own 66.05% of the company's stock.

Insider Transactions at Shoe Carnival

In other news, Chairman Wayne J. Weaver bought 285,500 shares of the stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $33.91 per share, for a total transaction of $9,681,305.00. Following the completion of the purchase, the chairman now directly owns 4,173,529 shares in the company, valued at $141,524,368.39. This represents a 7.34 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 34.70% of the stock is currently owned by insiders.

Shoe Carnival Trading Up 0.3 %

Shoe Carnival stock traded up $0.08 during mid-day trading on Wednesday, reaching $26.53. The company had a trading volume of 133,053 shares, compared to its average volume of 398,703. Shoe Carnival, Inc. has a fifty-two week low of $25.43 and a fifty-two week high of $46.92. The company has a market cap of $720.68 million, a P/E ratio of 9.75 and a beta of 1.50. The business has a fifty day simple moving average of $32.12 and a 200 day simple moving average of $36.98.

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 the consensus estimate of $0.70 by $0.01. The firm had revenue of $306.90 million during the quarter, compared to the consensus estimate of $316.97 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The company's revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 earnings per share. Research analysts forecast that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival declared that its Board of Directors has approved a share repurchase program on Thursday, December 12th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Shoe Carnival Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, January 13th were paid a $0.135 dividend. The ex-dividend date of this dividend was Monday, January 13th. This represents a $0.54 annualized dividend and a dividend yield of 2.04%. Shoe Carnival's dividend payout ratio is presently 19.85%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Shoe Carnival from a "sell" rating to a "hold" rating in a research note on Saturday, November 30th.

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.