Shoe Carnival, Inc. (NASDAQ:SCVL) Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC grew its position in Shoe Carnival, Inc. (NASDAQ:SCVL) by 25.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 255,973 shares of the company’s stock after acquiring an additional 51,429 shares during the period. First Eagle Investment Management LLC’s holdings in Shoe Carnival were worth $8,468,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Shoe Carnival in the fourth quarter valued at $1,075,000. Denali Advisors LLC increased its holdings 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 acquiring an additional 25,170 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Shoe Carnival by 51.7% during the 4th quarter. New York State Common Retirement Fund now owns 34,622 shares of the company’s stock worth $1,145,000 after acquiring an additional 11,800 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Shoe Carnival by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 95,181 shares of the company’s stock worth $3,149,000 after purchasing an additional 3,452 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Shoe Carnival by 22.0% in the fourth quarter. Rhumbline Advisers now owns 69,001 shares of the company’s stock valued at $2,283,000 after purchasing an additional 12,445 shares in the last quarter. 66.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Shoe Carnival Stock Performance

Shares of SCVL stock opened at $21.85 on Friday. The stock’s 50-day moving average is $26.10 and its two-hundred day moving average is $33.68. Shoe Carnival, Inc. has a 1 year low of $20.51 and a 1 year high of $46.92. The firm has a market cap of $593.77 million, a price-to-earnings ratio of 8.03 and a beta of 1.50.

Shoe Carnival declared that its board has initiated a share repurchase program on Thursday, December 12th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 5.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.