Semanteon Capital Management LP Acquires Shares of 40,556 Shoe Carnival, Inc. (NASDAQ:SCVL)

Semanteon Capital Management LP acquired a new stake in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 40,556 shares of the company's stock, valued at approximately $1,342,000. Semanteon Capital Management LP owned approximately 0.15% of Shoe Carnival at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SCVL. Copeland Capital Management LLC grew its position in Shoe Carnival by 2.5% in the 4th quarter. Copeland Capital Management LLC now owns 1,204,443 shares of the company's stock valued at $39,843,000 after acquiring an additional 29,280 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of Shoe Carnival in the third quarter valued at approximately $37,440,000. State Street Corp increased its stake in Shoe Carnival by 2.2% during the 3rd quarter. State Street Corp now owns 793,318 shares of the company's stock worth $34,787,000 after buying an additional 17,086 shares during the period. Hodges Capital Management Inc. increased its stake in Shoe Carnival by 20.0% during the 4th quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company's stock worth $19,236,000 after buying an additional 96,753 shares during the period. Finally, Royce & Associates LP lifted its holdings in Shoe Carnival by 13.8% during the 4th quarter. Royce & Associates LP now owns 528,092 shares of the company's stock worth $17,469,000 after buying an additional 64,239 shares in the last quarter. Hedge funds and other institutional investors own 66.05% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Shoe Carnival Stock Performance

SCVL stock traded down $0.46 during mid-day trading on Tuesday, reaching $21.81. The company had a trading volume of 591,803 shares, compared to its average volume of 327,856. The firm has a fifty day simple moving average of $24.90 and a 200 day simple moving average of $32.68. The company has a market capitalization of $592.69 million, a price-to-earnings ratio of 8.02 and a beta of 1.50. Shoe Carnival, Inc. has a fifty-two week low of $20.51 and a fifty-two week high of $46.92.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $277.89 million. During the same quarter last year, the company earned $0.59 earnings per share. The firm's revenue was down 6.2% compared to the same quarter last year. As a group, analysts predict that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.75%. This is an increase from Shoe Carnival's previous quarterly dividend of $0.14. Shoe Carnival's payout ratio is presently 22.39%.

Shoe Carnival announced that its Board of Directors has initiated a share buyback program on Thursday, December 12th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 5.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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.