Hodges Capital Management Inc. Grows Holdings in Shoe Carnival, Inc. (NASDAQ:SCVL)

Hodges Capital Management Inc. lifted its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 20.0% during the 4th quarter, HoldingsChannel reports. The fund owned 581,508 shares of the company’s stock after purchasing an additional 96,753 shares during the period. Shoe Carnival accounts for 1.2% of Hodges Capital Management Inc.’s portfolio, making the stock its 23rd biggest position. Hodges Capital Management Inc.’s holdings in Shoe Carnival were worth $19,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Copeland Capital Management LLC boosted its position in Shoe Carnival by 2.5% during the fourth quarter. Copeland Capital Management LLC now owns 1,204,443 shares of the company’s stock worth $39,843,000 after purchasing an additional 29,280 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of Shoe Carnival during the 3rd quarter worth approximately $37,440,000. State Street Corp lifted its position in shares of Shoe Carnival by 2.2% during the 3rd quarter. State Street Corp now owns 793,318 shares of the company’s stock valued at $34,787,000 after buying an additional 17,086 shares in the last quarter. Geode Capital Management LLC grew its stake in Shoe Carnival by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 452,548 shares of the company’s stock valued at $19,848,000 after acquiring an additional 10,761 shares during the period. Finally, Foundry Partners LLC increased its holdings in Shoe Carnival by 0.6% in the 3rd quarter. Foundry Partners LLC now owns 149,735 shares of the company’s stock worth $6,566,000 after acquiring an additional 940 shares in 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 $27.06 on Monday. The stock’s 50 day simple moving average is $32.45 and its 200-day simple moving average is $37.16. The company has a market cap of $735.22 million, a PE ratio of 9.95 and a beta of 1.50. Shoe Carnival, Inc. has a 1-year low of $25.38 and a 1-year high of $46.92.

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

Shoe Carnival declared that its Board of Directors has authorized a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Shoe Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Monday, January 13th were given a dividend of $0.135 per share. The ex-dividend date was Monday, January 13th. This represents a $0.54 dividend on an annualized basis and a yield of 2.00%. Shoe Carnival’s payout ratio is presently 19.85%.

Insider Activity at Shoe Carnival

In related news, Chairman Wayne J. Weaver bought 285,500 shares of the company’s stock in a transaction on Friday, December 6th. The stock was bought at an average cost of $33.91 per share, for a total transaction of $9,681,305.00. Following the acquisition, the chairman now directly owns 4,173,529 shares in the company, valued at $141,524,368.39. This represents a 7.34 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 34.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.