Barclays PLC Grows Stock Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Barclays PLC raised its position in Shoe Carnival, Inc. (NASDAQ:SCVL) by 189.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,342 shares of the company’s stock after buying an additional 19,868 shares during the quarter. Barclays PLC’s holdings in Shoe Carnival were worth $1,330,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SCVL. Harvest Fund Management Co. Ltd purchased a new stake in shares of Shoe Carnival during the 3rd quarter valued at approximately $62,000. Quarry LP bought a new stake in Shoe Carnival during the 3rd quarter valued at $66,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Shoe Carnival during the third quarter worth $76,000. FMR LLC lifted its position in shares of Shoe Carnival by 8.7% during the third quarter. FMR LLC now owns 4,266 shares of the company’s stock worth $187,000 after acquiring an additional 343 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of Shoe Carnival in the third quarter worth $224,000. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Shoe Carnival Trading Down 2.0 %

SCVL stock opened at $35.67 on Friday. The firm has a 50 day moving average of $35.23 and a 200-day moving average of $38.40. The firm has a market capitalization of $969.33 million, a P/E ratio of 13.11 and a beta of 1.53. Shoe Carnival, Inc. has a 12 month low of $24.94 and a 12 month high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Thursday, November 21st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. The firm had revenue of $306.90 million during the quarter, compared to the consensus estimate of $316.97 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. Sell-side analysts predict that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival announced that its board has authorized a share buyback plan on Thursday, December 12th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Shoe Carnival Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Monday, January 13th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Monday, January 13th. This represents a $0.54 dividend on an annualized basis and a yield of 1.51%. Shoe Carnival’s dividend payout ratio is currently 19.85%.

Insider Buying and Selling at Shoe Carnival

In related news, Chairman Wayne J. Weaver acquired 285,500 shares of the stock in a transaction dated Friday, December 6th. The shares were purchased at an average price of $33.91 per share, for a total transaction of $9,681,305.00. Following the transaction, the chairman now owns 4,173,529 shares in the company, valued at $141,524,368.39. This represents a 7.34 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 34.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Shoe Carnival 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.