Hodges Capital Management Inc. Acquires 96,753 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Hodges Capital Management Inc. boosted its stake in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 581,508 shares of the company's stock after purchasing an additional 96,753 shares during the quarter. Shoe Carnival makes up 1.2% of Hodges Capital Management Inc.'s investment portfolio, making the stock its 23rd largest position. Hodges Capital Management Inc. owned about 2.14% of Shoe Carnival worth $19,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pacer Advisors Inc. bought a new position in shares of Shoe Carnival during the 3rd quarter valued at $37,440,000. Millennium Management LLC boosted its position in Shoe Carnival by 726.1% during the 2nd quarter. Millennium Management LLC now owns 101,831 shares of the company's stock valued at $3,757,000 after acquiring an additional 89,504 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Shoe Carnival by 138.3% during the 3rd quarter. Victory Capital Management Inc. now owns 59,239 shares of the company's stock worth $2,598,000 after acquiring an additional 34,382 shares during the period. Copeland Capital Management LLC raised its position in shares of Shoe Carnival by 2.5% in the 4th quarter. Copeland Capital Management LLC now owns 1,204,443 shares of the company's stock worth $39,843,000 after acquiring an additional 29,280 shares in the last quarter. Finally, Petrus Trust Company LTA lifted its stake in shares of Shoe Carnival by 134.3% in the 3rd quarter. Petrus Trust Company LTA now owns 37,926 shares of the company's stock valued at $1,663,000 after purchasing an additional 21,737 shares during the period. Hedge funds and other institutional investors own 66.05% of the company's stock.

Insider Transactions at Shoe Carnival

In other Shoe Carnival news, Chairman Wayne J. Weaver bought 285,500 shares of the business's stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average cost of $33.91 per share, for a total transaction of $9,681,305.00. Following the completion of the transaction, the chairman now owns 4,173,529 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 34.70% of the company's stock.

Wall Street Analysts Forecast Growth

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

Shoe Carnival Trading Down 1.1 %

Shoe Carnival stock traded down $0.30 during mid-day trading on Thursday, hitting $26.56. The company had a trading volume of 353,143 shares, compared to its average volume of 403,073. Shoe Carnival, Inc. has a 12 month low of $25.43 and a 12 month high of $46.92. The stock's 50 day moving average price is $31.84 and its two-hundred day moving average price is $36.84. The company has a market capitalization of $721.77 million, a PE ratio of 9.76 and a beta of 1.50.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last issued its earnings results on Thursday, November 21st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.01. The firm had revenue of $306.90 million for 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 business's revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Equities research analysts anticipate that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

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

Shoe Carnival Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, January 13th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Monday, January 13th. Shoe Carnival's payout ratio is 19.85%.

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.