Shoe Carnival, Inc. (NASDAQ:SCVL) Shares Sold by New South Capital Management Inc.

New South Capital Management Inc. cut its holdings in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 241,412 shares of the company’s stock after selling 18,038 shares during the quarter. New South Capital Management Inc.’s holdings in Shoe Carnival were worth $7,986,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SCVL. Pacer Advisors Inc. purchased a new stake in shares of Shoe Carnival in the 3rd quarter valued at approximately $37,440,000. Hodges Capital Management Inc. grew its position in shares of Shoe Carnival by 20.0% in the 4th quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company’s stock valued at $19,236,000 after buying an additional 96,753 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Shoe Carnival by 138.3% in the 3rd quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock valued at $2,598,000 after buying an additional 34,382 shares during the last quarter. Copeland Capital Management LLC grew its position in shares of Shoe Carnival by 2.5% in the 4th quarter. Copeland Capital Management LLC now owns 1,204,443 shares of the company’s stock valued at $39,843,000 after buying an additional 29,280 shares during the last quarter. Finally, Denali Advisors LLC grew its position in shares of Shoe Carnival by 37.8% in the 4th quarter. Denali Advisors LLC now owns 91,800 shares of the company’s stock valued at $3,037,000 after buying an additional 25,170 shares during the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Shoe Carnival Price Performance

NASDAQ SCVL opened at $21.32 on Thursday. The firm’s fifty day moving average price is $27.79 and its 200 day moving average price is $34.58. The company has a market capitalization of $579.37 million, a price-to-earnings ratio of 7.84 and a beta of 1.50. Shoe Carnival, Inc. has a 12 month low of $20.51 and a 12 month high of $46.92.

Shoe Carnival announced that its Board of Directors has approved a stock buyback plan on Thursday, December 12th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 5.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Shoe Carnival Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, January 13th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Monday, January 13th. Shoe Carnival’s payout ratio is currently 19.85%.

Insiders Place Their Bets

In related news, Chairman Wayne J. Weaver acquired 285,500 shares of Shoe Carnival stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average price of $33.91 per share, for a total transaction of $9,681,305.00. Following the completion of the purchase, the chairman now directly owns 4,173,529 shares of the company’s stock, valued at approximately $141,524,368.39. This trade represents a 7.34 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 34.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research 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.