Denali Advisors LLC Increases Holdings in Shoe Carnival, Inc. (NASDAQ:SCVL)

Denali Advisors LLC raised its position in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 37.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 91,800 shares of the company's stock after acquiring an additional 25,170 shares during the period. Denali Advisors LLC owned approximately 0.34% of Shoe Carnival worth $3,037,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new position in shares of Shoe Carnival in the third quarter valued at approximately $62,000. Quarry LP bought a new position in shares of Shoe Carnival in the third quarter valued at approximately $66,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Shoe Carnival in the third quarter valued at approximately $76,000. SG Americas Securities LLC bought a new position in shares of Shoe Carnival in the fourth quarter valued at approximately $178,000. Finally, FMR LLC lifted its holdings in shares of Shoe Carnival by 8.7% in the third quarter. FMR LLC now owns 4,266 shares of the company's stock valued at $187,000 after purchasing an additional 343 shares in the last quarter. Institutional investors and hedge funds own 66.05% of the company's stock.

Analyst Ratings Changes

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

Remove Ads

Shoe Carnival Price Performance

Shares of SCVL stock traded up $0.31 during trading hours on Friday, reaching $22.14. The company had a trading volume of 484,856 shares, compared to its average volume of 399,912. Shoe Carnival, Inc. has a 12 month low of $21.54 and a 12 month high of $46.92. The business has a fifty day simple moving average of $28.57 and a 200-day simple moving average of $35.11. The company has a market cap of $601.65 million, a price-to-earnings ratio of 8.14 and a beta of 1.50.

Shoe Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Monday, January 13th were issued a dividend of $0.135 per share. The ex-dividend date was Monday, January 13th. This represents a $0.54 dividend on an annualized basis and a yield of 2.44%. Shoe Carnival's dividend payout ratio (DPR) is currently 19.85%.

Shoe Carnival announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 12th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Shoe Carnival news, Chairman Wayne J. Weaver purchased 285,500 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average cost of $33.91 per share, for a total transaction of $9,681,305.00. Following the completion of the acquisition, the chairman now owns 4,173,529 shares of the company's stock, valued at $141,524,368.39. The trade was a 7.34 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 34.70% of the stock is currently owned by corporate insiders.

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.