Shoe Carnival (NASDAQ:SCVL) Reaches New 52-Week Low - Should You Sell?

Shoe Carnival, Inc. (NASDAQ:SCVL - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $21.73 and last traded at $21.79, with a volume of 22122 shares traded. The stock had previously closed at $22.47.

Analyst Ratings Changes

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

The company has a market capitalization of $581.00 million, a P/E ratio of 7.86 and a beta of 1.50. The business's 50-day moving average price is $28.32 and its two-hundred day moving average price is $34.89.

Shoe Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, January 13th were issued a $0.135 dividend. The ex-dividend date was Monday, January 13th. This represents a $0.54 annualized dividend and a dividend yield of 2.53%. Shoe Carnival's dividend payout ratio (DPR) is currently 19.85%.

Shoe Carnival declared that its board has authorized a stock buyback plan on Thursday, December 12th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

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Insider Activity at Shoe Carnival

In related news, Chairman Wayne J. Weaver bought 285,500 shares of the company's stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $33.91 per share, for a total transaction of $9,681,305.00. Following the acquisition, the chairman now owns 4,173,529 shares of the company's stock, valued at approximately $141,524,368.39. This represents a 7.34 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 34.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Shoe Carnival

Several large investors have recently made changes to their positions in SCVL. FMR LLC boosted its stake in Shoe Carnival by 8.7% in the 3rd quarter. FMR LLC now owns 4,266 shares of the company's stock worth $187,000 after purchasing an additional 343 shares during the period. Sei Investments Co. boosted its position in shares of Shoe Carnival by 0.8% during the fourth quarter. Sei Investments Co. now owns 56,940 shares of the company's stock worth $1,884,000 after buying an additional 437 shares during the period. Sterling Capital Management LLC boosted its position in shares of Shoe Carnival by 5.8% during the fourth quarter. Sterling Capital Management LLC now owns 9,284 shares of the company's stock worth $307,000 after buying an additional 511 shares during the period. Foundry Partners LLC grew its holdings in shares of Shoe Carnival by 0.6% during the third quarter. Foundry Partners LLC now owns 149,735 shares of the company's stock worth $6,566,000 after buying an additional 940 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Shoe Carnival by 17.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,795 shares of the company's stock valued at $225,000 after buying an additional 987 shares during the last quarter. Institutional investors own 66.05% of the company's stock.

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.