Raymond James Financial Inc. purchased a new position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 32,500 shares of the company's stock, valued at approximately $1,075,000. Raymond James Financial Inc. owned about 0.12% of Shoe Carnival as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its holdings in Shoe Carnival by 31.5% during the third quarter. The Manufacturers Life Insurance Company now owns 9,561 shares of the company's stock worth $419,000 after buying an additional 2,290 shares during the last quarter. FMR LLC grew its position in shares of Shoe Carnival by 8.7% in the 3rd 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 period. BNP Paribas Financial Markets increased its stake in shares of Shoe Carnival by 22.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 59,739 shares of the company's stock worth $2,620,000 after purchasing an additional 10,924 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Shoe Carnival by 16.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,069 shares of the company's stock valued at $2,196,000 after purchasing an additional 6,946 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Shoe Carnival in the 3rd quarter valued at about $76,000. Institutional investors own 66.05% of the company's stock.
Shoe Carnival Stock Performance
Shoe Carnival stock traded down $0.99 during midday trading on Tuesday, reaching $18.70. 674,575 shares of the company's stock were exchanged, compared to its average volume of 353,367. The stock's 50-day simple moving average is $22.88 and its 200 day simple moving average is $30.97. The firm has a market cap of $508.17 million, a price-to-earnings ratio of 6.88 and a beta of 1.35. Shoe Carnival, Inc. has a 52 week low of $18.07 and a 52 week high of $46.92.
Shoe Carnival (NASDAQ:SCVL - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.12. The company had revenue of $262.90 million during the quarter, compared to analysts' expectations of $277.89 million. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The business's revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share. Research analysts forecast that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.
Shoe Carnival Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, April 7th. This is a positive change from Shoe Carnival's previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 3.21%. Shoe Carnival's dividend payout ratio is presently 22.39%.
Shoe Carnival declared that its Board of Directors has approved a share buyback plan on Thursday, December 12th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.
About Shoe Carnival
(
Free Report)
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.
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