Quantbot Technologies LP Acquires 52,077 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Quantbot Technologies LP increased its holdings in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 15,974.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,403 shares of the company’s stock after purchasing an additional 52,077 shares during the quarter. Quantbot Technologies LP owned approximately 0.19% of Shoe Carnival worth $1,733,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd purchased a new stake in Shoe Carnival during the 3rd quarter valued at approximately $62,000. The Manufacturers Life Insurance Company grew its stake in Shoe Carnival by 31.5% during the third quarter. The Manufacturers Life Insurance Company now owns 9,561 shares of the company’s stock valued at $419,000 after acquiring an additional 2,290 shares in the last quarter. FMR LLC increased its holdings in Shoe Carnival by 8.7% in the 3rd quarter. FMR LLC now owns 4,266 shares of the company’s stock valued at $187,000 after acquiring an additional 343 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Shoe Carnival by 22.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 59,739 shares of the company’s stock worth $2,620,000 after purchasing an additional 10,924 shares in the last quarter. Finally, Blueshift Asset Management LLC bought a new position in shares of Shoe Carnival during the 3rd quarter valued at about $501,000. Institutional investors own 66.05% of the company’s stock.

Wall Street Analyst Weigh In

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

Shoe Carnival Stock Performance

NASDAQ SCVL opened at $22.27 on Tuesday. The stock has a 50 day moving average price of $24.90 and a 200-day moving average price of $32.68. Shoe Carnival, Inc. has a one year low of $20.51 and a one year high of $46.92. The company has a market capitalization of $605.19 million, a P/E ratio of 8.19 and a beta of 1.50.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Thursday, March 20th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The business had revenue of $262.90 million during the quarter, compared to analysts’ expectations of $277.89 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS. As a group, equities analysts predict that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

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 outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Shoe Carnival Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders 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 is an increase from Shoe Carnival’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 2.69%. Shoe Carnival’s dividend payout ratio is 22.39%.

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.