Shoe Carnival, Inc. (NASDAQ:SCVL) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 452,548 shares of the company’s stock after acquiring an additional 10,761 shares during the period. Geode Capital Management LLC owned approximately 1.67% of Shoe Carnival worth $19,848,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SCVL. Pacer Advisors Inc. purchased a new position in shares of Shoe Carnival in the third quarter valued at approximately $37,440,000. State Street Corp grew its stake in Shoe Carnival by 2.2% during the 3rd quarter. State Street Corp now owns 793,318 shares of the company’s stock worth $34,787,000 after purchasing an additional 17,086 shares in the last quarter. American Century Companies Inc. increased its holdings in Shoe Carnival by 34.7% during the 2nd quarter. American Century Companies Inc. now owns 410,355 shares of the company’s stock worth $15,138,000 after purchasing an additional 105,818 shares during the period. Foundry Partners LLC increased its holdings in Shoe Carnival by 0.6% during the 3rd quarter. Foundry Partners LLC now owns 149,735 shares of the company’s stock worth $6,566,000 after purchasing an additional 940 shares during the period. Finally, Empowered Funds LLC raised its position in Shoe Carnival by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 129,459 shares of the company’s stock valued at $5,677,000 after purchasing an additional 6,566 shares in the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Shoe Carnival news, Chairman Wayne J. Weaver bought 285,500 shares of the company’s stock in a transaction on Friday, December 6th. The stock was 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 $141,524,368.39. The trade was a 7.34 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 34.70% of the company’s stock.

Analysts Set New Price Targets

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

Shoe Carnival Price Performance

Shares of Shoe Carnival stock opened at $35.67 on Friday. The firm’s fifty day simple moving average is $35.23 and its 200-day simple moving average is $38.40. Shoe Carnival, Inc. has a 12 month low of $24.94 and a 12 month high of $46.92. The stock has a market capitalization of $969.33 million, a price-to-earnings ratio of 13.11 and a beta of 1.53.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.70 by $0.01. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The business had revenue of $306.90 million during the quarter, compared to analysts’ expectations of $316.97 million. During the same quarter in the prior year, the business earned $0.80 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts anticipate that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival declared that its board has authorized a stock repurchase program on Thursday, December 12th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 5.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Shoe Carnival Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Monday, January 13th will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, January 13th. Shoe Carnival’s dividend payout ratio (DPR) is 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.