EMC Capital Management Sells 21,909 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

EMC Capital Management trimmed its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 74.6% during the fourth quarter, HoldingsChannel reports. The firm owned 7,468 shares of the company’s stock after selling 21,909 shares during the quarter. EMC Capital Management’s holdings in Shoe Carnival were worth $247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SCVL. Barclays PLC increased its stake in Shoe Carnival by 189.7% during the 3rd quarter. Barclays PLC now owns 30,342 shares of the company’s stock worth $1,330,000 after purchasing an additional 19,868 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Shoe Carnival by 138.3% during the third quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock worth $2,598,000 after acquiring an additional 34,382 shares in the last quarter. State Street Corp raised its holdings in shares of Shoe Carnival by 2.2% during the third quarter. State Street Corp now owns 793,318 shares of the company’s stock worth $34,787,000 after acquiring an additional 17,086 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Shoe Carnival by 16.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,069 shares of the company’s stock valued at $2,196,000 after acquiring an additional 6,946 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in Shoe Carnival by 69.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 46,540 shares of the company’s stock worth $2,041,000 after purchasing an additional 19,030 shares during the period. Institutional investors and hedge funds own 66.05% of the company’s stock.

Insider Activity at Shoe Carnival

In other news, Chairman Wayne J. Weaver bought 285,500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average cost of $33.91 per share, with a total value of $9,681,305.00. Following the completion of the purchase, the chairman now owns 4,173,529 shares of the company’s stock, valued at $141,524,368.39. This represents a 7.34 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 34.70% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Shoe Carnival Stock Up 3.2 %

NASDAQ:SCVL opened at $27.75 on Friday. The company has a market cap of $753.97 million, a P/E ratio of 10.20 and a beta of 1.52. Shoe Carnival, Inc. has a twelve month low of $25.38 and a twelve month high of $46.92. The business has a 50 day moving average price of $32.58 and a two-hundred day moving average price of $37.29.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The business had revenue of $306.90 million for the quarter, compared to analyst estimates of $316.97 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. As a group, analysts anticipate that Shoe Carnival, Inc. will post 2.6 earnings per share for the current fiscal year.

Shoe Carnival announced that its Board of Directors has approved a share repurchase plan on Thursday, December 12th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 5.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Shoe Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, January 13th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Monday, January 13th. Shoe Carnival’s payout ratio is 19.85%.

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.