Charles Schwab Investment Management Inc. Sells 47,359 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Charles Schwab Investment Management Inc. cut its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 18.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 215,551 shares of the company's stock after selling 47,359 shares during the period. Charles Schwab Investment Management Inc. owned about 0.79% of Shoe Carnival worth $7,130,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SCVL. Barclays PLC boosted its stake in shares of Shoe Carnival by 189.7% during the 3rd quarter. Barclays PLC now owns 30,342 shares of the company's stock valued at $1,330,000 after buying an additional 19,868 shares during the period. Victory Capital Management Inc. boosted its position in Shoe Carnival by 138.3% during the third quarter. Victory Capital Management Inc. now owns 59,239 shares of the company's stock valued at $2,598,000 after purchasing an additional 34,382 shares during the last quarter. State Street Corp boosted its position in Shoe Carnival by 2.2% during the third quarter. State Street Corp now owns 793,318 shares of the company's stock valued at $34,787,000 after purchasing an additional 17,086 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Shoe Carnival by 16.1% in the third 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 in the last quarter. Finally, Hodges Capital Management Inc. increased its position in Shoe Carnival by 20.0% in the 4th quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company's stock worth $19,236,000 after purchasing an additional 96,753 shares during the last quarter. Institutional investors and hedge funds 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 note on Saturday, November 30th.

Shoe Carnival Stock Up 0.8 %

Shares of SCVL traded up $0.17 during mid-day trading on Thursday, hitting $22.15. 413,627 shares of the company's stock were exchanged, compared to its average volume of 330,315. The stock has a market cap of $601.93 million, a price-to-earnings ratio of 8.14 and a beta of 1.50. The firm has a fifty day moving average of $24.56 and a two-hundred day moving average of $32.47. Shoe Carnival, Inc. has a twelve month low of $20.51 and a twelve month high of $46.92.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last posted its earnings results on Thursday, March 20th. The company reported $0.54 EPS for the quarter, topping 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 the consensus estimate of $277.89 million. During the same period in the prior year, the business posted $0.59 earnings per share. The business's quarterly revenue was down 6.2% on a year-over-year basis. On average, equities analysts predict that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

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

Shoe Carnival Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a $0.15 dividend. This is a positive change from Shoe Carnival's previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 2.71%. The ex-dividend date is Monday, April 7th. Shoe Carnival's payout ratio is 22.39%.

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.