Corebridge Financial Inc. Sells 741 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Corebridge Financial Inc. cut its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 7.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,511 shares of the company’s stock after selling 741 shares during the period. Corebridge Financial Inc.’s holdings in Shoe Carnival were worth $315,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SCVL. KLP Kapitalforvaltning AS bought a new position in shares of Shoe Carnival in the fourth quarter worth about $99,000. SG Americas Securities LLC purchased a new position in Shoe Carnival during the fourth quarter valued at approximately $178,000. FMR LLC boosted its position in shares of Shoe Carnival by 8.7% in the third 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. XTX Topco Ltd purchased a new stake in shares of Shoe Carnival in the third quarter worth $296,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Shoe Carnival during the 3rd quarter valued at $346,000. Institutional investors own 66.05% of the company’s stock.

Shoe Carnival Stock Performance

Shares of Shoe Carnival stock opened at $19.38 on Friday. Shoe Carnival, Inc. has a fifty-two week low of $18.07 and a fifty-two week high of $46.92. The company has a market capitalization of $526.65 million, a P/E ratio of 7.13 and a beta of 1.35. The company has a fifty day moving average of $22.49 and a 200 day moving average of $30.56.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, March 20th. The company reported $0.54 earnings per share for the quarter, topping 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 quarter in the prior year, the company posted $0.59 earnings per share. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. Analysts forecast that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $0.60 annualized dividend and a dividend yield of 3.10%. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.14. Shoe Carnival’s dividend payout ratio (DPR) is presently 22.39%.

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

Shoe Carnival Company 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.