Royce & Associates LP Grows Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Royce & Associates LP raised its holdings in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 13.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 528,092 shares of the company's stock after acquiring an additional 64,239 shares during the quarter. Royce & Associates LP owned approximately 1.94% of Shoe Carnival worth $17,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCVL. Pacer Advisors Inc. purchased a new position in shares of Shoe Carnival during the 3rd quarter worth approximately $37,440,000. Hodges Capital Management Inc. grew its holdings in Shoe Carnival by 20.0% during the 4th quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company's stock valued at $19,236,000 after buying an additional 96,753 shares during the last quarter. First Eagle Investment Management LLC increased its position in Shoe Carnival by 25.1% during the fourth quarter. First Eagle Investment Management LLC now owns 255,973 shares of the company's stock worth $8,468,000 after buying an additional 51,429 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Shoe Carnival by 138.3% in the third 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 last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Shoe Carnival in the fourth quarter valued at $1,075,000. Institutional investors and hedge funds own 66.05% of the company's stock.

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Shoe Carnival Stock Down 0.9 %

Shares of NASDAQ:SCVL traded down $0.21 during trading on Thursday, reaching $22.44. The stock had a trading volume of 1,228,729 shares, compared to its average volume of 324,742. The business has a fifty day moving average price of $25.41 and a 200-day moving average price of $33.08. The stock has a market cap of $609.81 million, a P/E ratio of 8.25 and a beta of 1.51. Shoe Carnival, Inc. has a fifty-two week low of $18.43 and a fifty-two week high of $46.92.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.12. The business had revenue of $262.90 million during the quarter, compared to analyst estimates of $277.89 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The company's revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 earnings per share. As a group, equities analysts forecast that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Increases Dividend

The company 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.67%. 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. Shoe Carnival's payout ratio is currently 19.85%.

Shoe Carnival declared that its board has authorized a share repurchase plan on Thursday, December 12th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Shoe Carnival 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.