First Eagle Investment Management LLC Buys 51,429 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

First Eagle Investment Management LLC grew its stake in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 25.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 255,973 shares of the company's stock after purchasing an additional 51,429 shares during the quarter. First Eagle Investment Management LLC owned about 0.94% of Shoe Carnival worth $8,468,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC raised its stake in Shoe Carnival by 189.7% during the 3rd quarter. Barclays PLC now owns 30,342 shares of the company's stock worth $1,330,000 after buying an additional 19,868 shares during the period. Victory Capital Management Inc. raised its stake in Shoe Carnival by 138.3% during the 3rd quarter. Victory Capital Management Inc. now owns 59,239 shares of the company's stock worth $2,598,000 after buying an additional 34,382 shares during the period. State Street Corp raised 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Shoe Carnival by 16.1% during 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 worth $2,196,000 after buying an additional 6,946 shares during the period. Finally, Hodges Capital Management Inc. raised 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. Institutional investors and hedge funds own 66.05% of the company's stock.

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Analysts Set New Price Targets

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

Shoe Carnival Price Performance

SCVL stock traded down $0.07 during trading hours on Wednesday, reaching $22.65. 867,762 shares of the stock were exchanged, compared to its average volume of 321,061. The firm's 50-day moving average is $25.57 and its 200-day moving average is $33.15. The company has a market cap of $615.51 million, a price-to-earnings ratio of 8.33 and a beta of 1.51. Shoe Carnival, Inc. has a 12 month low of $20.51 and a 12 month high of $46.92.

Shoe Carnival Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Monday, April 7th. This is a boost from Shoe Carnival's previous quarterly dividend of $0.14. Shoe Carnival's dividend payout ratio is 19.85%.

Shoe Carnival declared that its board has initiated a share buyback program on Thursday, December 12th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 5.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are 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.