Victory Capital Management Inc. Decreases Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Victory Capital Management Inc. decreased its position in Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 42.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,330 shares of the company's stock after selling 24,909 shares during the period. Victory Capital Management Inc. owned approximately 0.13% of Shoe Carnival worth $1,136,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SCVL. FMR LLC raised its holdings in shares of 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 acquiring an additional 343 shares during the last quarter. Foundry Partners LLC raised its holdings in shares of Shoe Carnival by 0.6% in the 3rd quarter. Foundry Partners LLC now owns 149,735 shares of the company's stock worth $6,566,000 after acquiring an additional 940 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Shoe Carnival in the 3rd quarter worth about $62,000. Quarry LP acquired a new stake in shares of Shoe Carnival in the 3rd quarter worth about $66,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Shoe Carnival in the 3rd quarter worth about $76,000. Institutional investors and hedge funds own 66.05% of the company's stock.

Shoe Carnival Stock Performance

NASDAQ:SCVL traded down $0.92 on Friday, hitting $21.52. The stock had a trading volume of 1,109,926 shares, compared to its average volume of 327,034. The stock has a market cap of $584.81 million, a P/E ratio of 7.91 and a beta of 1.50. Shoe Carnival, Inc. has a 1 year low of $20.51 and a 1 year high of $46.92. The firm's fifty day simple moving average is $25.07 and its two-hundred day simple moving average is $32.84.

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

Shoe Carnival announced that its Board of Directors has initiated a stock buyback program on Thursday, December 12th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 5.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Shoe Carnival Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a $0.15 dividend. This is a positive change from Shoe Carnival's previous quarterly dividend of $0.14. The ex-dividend date is Monday, April 7th. This represents a $0.60 annualized dividend and a yield of 2.79%. Shoe Carnival's dividend payout ratio (DPR) is 22.39%.

Analyst Upgrades and Downgrades

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

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.