Shoe Carnival, Inc. (NASDAQ:SCVL) Shares Sold by New South Capital Management Inc.

New South Capital Management Inc. reduced its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 241,412 shares of the company’s stock after selling 18,038 shares during the period. New South Capital Management Inc. owned approximately 0.89% of Shoe Carnival worth $7,986,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SCVL. New York State Teachers Retirement System lifted its stake in shares of Shoe Carnival by 6.0% during the third quarter. New York State Teachers Retirement System now owns 23,545 shares of the company’s stock worth $1,032,000 after buying an additional 1,341 shares during the period. Aigen Investment Management LP acquired a new position in Shoe Carnival during the third quarter valued at $237,000. Victory Capital Management Inc. raised its position in shares of Shoe Carnival by 138.3% in 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 during the period. Empowered Funds LLC increased its stake in shares of Shoe Carnival by 5.3% during the third quarter. Empowered Funds LLC now owns 129,459 shares of the company’s stock worth $5,677,000 after purchasing an additional 6,566 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Shoe Carnival during the third quarter worth about $606,000. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Shoe Carnival Stock Up 0.4 %

SCVL stock opened at $21.32 on Thursday. The stock has a market capitalization of $579.37 million, a P/E ratio of 7.84 and a beta of 1.50. The firm has a 50-day simple moving average of $27.79 and a 200-day simple moving average of $34.58. Shoe Carnival, Inc. has a 52 week low of $20.51 and a 52 week high of $46.92.

Shoe Carnival declared that its Board of Directors has approved a stock repurchase program on Thursday, December 12th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Shoe Carnival Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Monday, January 13th were paid a dividend of $0.135 per share. The ex-dividend date was Monday, January 13th. This represents a $0.54 annualized dividend and a yield of 2.53%. Shoe Carnival’s dividend payout ratio is presently 19.85%.

Insider Activity at Shoe Carnival

In other news, Chairman Wayne J. Weaver purchased 285,500 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was acquired at an average price of $33.91 per share, with a total value of $9,681,305.00. Following the purchase, the chairman now directly owns 4,173,529 shares in the company, valued at approximately $141,524,368.39. This represents a 7.34 % increase in their position. The acquisition 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.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research note 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.