Shoe Carnival, Inc. (NASDAQ:SCVL) Stake Lessened by New South Capital Management Inc.

New South Capital Management Inc. trimmed its holdings in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 241,412 shares of the company's stock after selling 18,038 shares during the period. New South Capital Management Inc. owned approximately 0.89% of Shoe Carnival worth $7,986,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Denali Advisors LLC grew its position in Shoe Carnival by 37.8% in the 4th quarter. Denali Advisors LLC now owns 91,800 shares of the company's stock valued at $3,037,000 after buying an additional 25,170 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of Shoe Carnival by 51.7% in the 4th quarter. New York State Common Retirement Fund now owns 34,622 shares of the company's stock worth $1,145,000 after acquiring an additional 11,800 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Shoe Carnival by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 95,181 shares of the company's stock valued at $3,149,000 after acquiring an additional 3,452 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Shoe Carnival by 22.0% during the fourth quarter. Rhumbline Advisers now owns 69,001 shares of the company's stock valued at $2,283,000 after acquiring an additional 12,445 shares during the period. Finally, Empowered Funds LLC raised its holdings in Shoe Carnival by 5.1% during the fourth quarter. Empowered Funds LLC now owns 136,043 shares of the company's stock worth $4,500,000 after purchasing an additional 6,584 shares in the last quarter. 66.05% of the stock is currently owned by institutional investors.

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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 2.6 %

Shoe Carnival stock traded up $0.58 during midday trading on Friday, hitting $23.01. The company's stock had a trading volume of 663,073 shares, compared to its average volume of 429,295. Shoe Carnival, Inc. has a 12 month low of $20.51 and a 12 month high of $46.92. The company has a market capitalization of $625.30 million, a PE ratio of 8.46 and a beta of 1.50. The stock's 50-day moving average price is $26.99 and its 200-day moving average price is $34.20.

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

Shoe Carnival Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, January 13th were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Monday, January 13th. Shoe Carnival's dividend payout ratio is presently 19.85%.

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.