EMC Capital Management Decreases Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

EMC Capital Management cut its holdings in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 74.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,468 shares of the company's stock after selling 21,909 shares during the quarter. EMC Capital Management's holdings in Shoe Carnival were worth $247,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Pacer Advisors Inc. bought a new stake in shares of Shoe Carnival in the third quarter worth about $37,440,000. State Street Corp increased its holdings in shares of Shoe Carnival by 2.2% in the third quarter. State Street Corp now owns 793,318 shares of the company's stock worth $34,787,000 after purchasing an additional 17,086 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Shoe Carnival by 2.4% in the third quarter. Geode Capital Management LLC now owns 452,548 shares of the company's stock worth $19,848,000 after purchasing an additional 10,761 shares during the last quarter. Foundry Partners LLC increased its holdings in shares of Shoe Carnival by 0.6% in the third quarter. Foundry Partners LLC now owns 149,735 shares of the company's stock worth $6,566,000 after purchasing an additional 940 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings 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 worth $5,677,000 after purchasing an additional 6,566 shares during the last quarter. 66.05% of the stock is owned by institutional investors.

Shoe Carnival Stock Performance

SCVL stock traded up $0.83 during midday trading on Tuesday, reaching $26.29. 214,931 shares of the company traded hands, compared to its average volume of 399,700. Shoe Carnival, Inc. has a 52-week low of $25.43 and a 52-week high of $46.92. The business has a 50 day moving average of $32.26 and a 200-day moving average of $37.06. The firm has a market capitalization of $714.24 million, a price-to-earnings ratio of 9.63 and a beta of 1.50.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $316.97 million. During the same period in the prior year, the business posted $0.80 earnings per share. The company's quarterly revenue was down 4.1% compared to the same quarter last year. Research analysts anticipate that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, January 13th were paid 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 dividend yield of 2.05%. Shoe Carnival's dividend payout ratio is 19.85%.

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

Analyst Ratings Changes

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

Insider Activity

In other news, Chairman Wayne J. Weaver acquired 285,500 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average price of $33.91 per share, with a total value 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 trade represents a 7.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 34.70% of the company's stock.

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.