Shoe Carnival, Inc. (NASDAQ:SCVL) Short Interest Update

Shoe Carnival, Inc. (NASDAQ:SCVL - Get Free Report) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 3,850,000 shares, an increase of 27.1% from the February 28th total of 3,030,000 shares. Based on an average trading volume of 493,600 shares, the short-interest ratio is currently 7.8 days. Currently, 21.7% of the company's shares are short sold.

Institutional Investors Weigh In On Shoe Carnival

A number of hedge funds and other institutional investors have recently modified their holdings of SCVL. Barclays PLC increased its holdings in Shoe Carnival by 189.7% in the third 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 last quarter. State Street Corp increased its holdings in shares of Shoe Carnival by 2.2% in the 3rd quarter. State Street Corp now owns 793,318 shares of the company's stock valued at $34,787,000 after acquiring an additional 17,086 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 acquiring an additional 6,946 shares in the last quarter. Hodges Capital Management Inc. raised its position in shares of 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 acquiring an additional 96,753 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in 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 purchasing an additional 3,452 shares in the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

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Shoe Carnival Stock Up 3.5 %

NASDAQ:SCVL traded up $0.68 on Friday, reaching $19.92. 1,399,091 shares of the company's stock were exchanged, compared to its average volume of 348,656. The firm has a market capitalization of $541.33 million, a price-to-earnings ratio of 7.32 and a beta of 1.35. Shoe Carnival has a 52-week low of $18.07 and a 52-week high of $46.92. The business has a fifty day moving average of $23.38 and a 200-day moving average of $31.52.

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

Shoe Carnival announced that its Board of Directors 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 repurchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Shoe Carnival Increases Dividend

The company also recently declared 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 annualized dividend and a yield of 3.01%. The ex-dividend date is Monday, April 7th. This is a boost from Shoe Carnival's previous quarterly dividend of $0.14. Shoe Carnival's payout ratio is 22.39%.

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.