Sebold Capital Management Inc. Lowers Stock Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Sebold Capital Management Inc. decreased its holdings in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 19,404 shares of the company’s stock after selling 702 shares during the period. Sebold Capital Management Inc.’s holdings in Shoe Carnival were worth $642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SCVL. Harvest Fund Management Co. Ltd acquired a new position in shares of Shoe Carnival during the 3rd quarter valued at $62,000. Quarry LP acquired a new position in shares of Shoe Carnival during the 3rd quarter valued at $66,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Shoe Carnival during the 3rd quarter valued at $76,000. FMR LLC lifted its holdings in shares of Shoe Carnival by 8.7% during 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 in the last quarter. Finally, Everence Capital Management Inc. acquired a new position in shares of Shoe Carnival during the 3rd quarter valued at $224,000. Institutional investors and hedge funds own 66.05% of the company’s stock.

Shoe Carnival Stock Performance

Shares of Shoe Carnival stock opened at $30.62 on Thursday. The firm has a market cap of $831.95 million, a PE ratio of 11.26 and a beta of 1.52. The firm’s 50-day simple moving average is $34.16 and its 200-day simple moving average is $37.89. Shoe Carnival, Inc. has a 1 year low of $24.94 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 net margin of 6.12% and a return on equity of 12.52%. The business had revenue of $306.90 million during the quarter, compared to the consensus estimate of $316.97 million. During the same quarter in the prior year, the firm earned $0.80 EPS. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities analysts predict that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Monday, January 13th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Monday, January 13th. Shoe Carnival’s dividend payout ratio is currently 19.85%.

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

Analysts Set New Price Targets

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

Insider Transactions at Shoe Carnival

In related news, Chairman Wayne J. Weaver purchased 285,500 shares of Shoe Carnival stock in a transaction dated Friday, December 6th. The stock was bought at an average cost of $33.91 per share, with a total value of $9,681,305.00. Following the purchase, the chairman now owns 4,173,529 shares in the company, valued at approximately $141,524,368.39. The trade was a 7.34 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 34.70% of the company’s stock.

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.