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

Shoe Carnival, Inc. (NASDAQ:SCVL - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $20.51 and last traded at $21.24, with a volume of 654021 shares changing hands. The stock had previously closed at $21.38.

Wall Street Analysts Forecast Growth

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

Shoe Carnival Stock Up 2.6 %

The stock has a market capitalization of $625.30 million, a PE ratio of 8.46 and a beta of 1.50. The firm's fifty day moving average price is $27.24 and its two-hundred day moving average price is $34.40.

Shoe Carnival Announces Dividend

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

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

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Institutional Trading of Shoe Carnival

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Shoe Carnival by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,397,109 shares of the company's stock worth $46,216,000 after purchasing an additional 8,826 shares during the last quarter. Copeland Capital Management LLC boosted its holdings in shares of Shoe Carnival by 2.5% in the fourth quarter. Copeland Capital Management LLC now owns 1,204,443 shares of the company's stock worth $39,843,000 after buying an additional 29,280 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Shoe Carnival by 10.1% in the fourth quarter. Invesco Ltd. now owns 880,047 shares of the company's stock worth $29,112,000 after buying an additional 80,871 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Shoe Carnival during the third quarter valued at approximately $37,440,000. Finally, State Street Corp increased its holdings 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 buying an additional 17,086 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.