Quantbot Technologies LP Purchases 52,077 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Quantbot Technologies LP grew its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 15,974.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,403 shares of the company's stock after buying an additional 52,077 shares during the quarter. Quantbot Technologies LP owned approximately 0.19% of Shoe Carnival worth $1,733,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd acquired a new position in shares of Shoe Carnival in the third quarter valued at approximately $62,000. Quarry LP acquired a new position in Shoe Carnival in the 3rd quarter valued at approximately $66,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Shoe Carnival during the third quarter valued at $76,000. FMR LLC raised its stake in shares of Shoe Carnival by 8.7% during the third quarter. FMR LLC now owns 4,266 shares of the company's stock valued at $187,000 after acquiring an additional 343 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of Shoe Carnival during the third quarter worth $228,000. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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 Stock Performance

Shares of SCVL traded up $0.17 during mid-day trading on Thursday, reaching $22.15. 413,627 shares of the company were exchanged, compared to its average volume of 331,046. The business has a 50 day simple moving average of $24.40 and a two-hundred day simple moving average of $32.40. Shoe Carnival, Inc. has a 52 week low of $20.51 and a 52 week high of $46.92. The stock has a market capitalization of $601.93 million, a PE ratio of 8.14 and a beta of 1.50.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The firm had revenue of $262.90 million for the quarter, compared to the consensus estimate of $277.89 million. During the same quarter in the previous year, the company earned $0.59 EPS. The company's revenue for the quarter was down 6.2% on a year-over-year basis. On average, analysts predict that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Increases Dividend

The firm also recently announced 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 is a positive change from Shoe Carnival's previous quarterly dividend of $0.14. The ex-dividend date is Monday, April 7th. This represents a $0.60 annualized dividend and a dividend yield of 2.71%. Shoe Carnival's dividend payout ratio is presently 22.39%.

Shoe Carnival announced that its board has authorized a stock repurchase plan 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 plans are generally a sign that the company's leadership believes its stock is undervalued.

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.