Shoe Carnival, Inc. (NASDAQ:SCVL) Stock Position Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 29.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,540 shares of the company’s stock after selling 36,285 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Shoe Carnival were worth $2,896,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SCVL. Barclays PLC lifted its holdings in Shoe Carnival by 189.7% in the 3rd quarter. Barclays PLC now owns 30,342 shares of the company’s stock valued at $1,330,000 after acquiring an additional 19,868 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Shoe Carnival by 138.3% during the third quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock valued at $2,598,000 after buying an additional 34,382 shares in the last quarter. State Street Corp lifted its stake in Shoe Carnival by 2.2% during the third 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Shoe Carnival by 16.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,069 shares of the company’s stock valued at $2,196,000 after buying an additional 6,946 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its stake in Shoe Carnival by 20.0% during the fourth quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company’s stock valued at $19,236,000 after buying an additional 96,753 shares in the last quarter. Institutional investors own 66.05% of the company’s stock.

Insider Buying and Selling at Shoe Carnival

In related news, Chairman Wayne J. Weaver purchased 285,500 shares of the stock in a transaction on Friday, December 6th. The shares were bought at an average price of $33.91 per share, for a total transaction of $9,681,305.00. Following the completion of the acquisition, the chairman now directly owns 4,173,529 shares in the company, valued at approximately $141,524,368.39. This trade represents a 7.34 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 34.70% of the company’s stock.

Shoe Carnival Stock Performance

NASDAQ:SCVL opened at $22.01 on Friday. The stock’s 50 day moving average price is $29.58 and its 200 day moving average price is $35.58. Shoe Carnival, Inc. has a 52 week low of $21.75 and a 52 week high of $46.92. The company has a market capitalization of $598.01 million, a P/E ratio of 8.09 and a beta of 1.50.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.71 EPS for the quarter, topping 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 firm had revenue of $306.90 million for the quarter, compared to the consensus estimate of $316.97 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts forecast that Shoe Carnival, Inc. will post 2.6 earnings per share for the current fiscal year.

Shoe Carnival declared that its Board of Directors has approved a stock repurchase 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Shoe Carnival Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, January 13th were issued 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 2.45%. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.85%.

Wall Street Analyst Weigh In

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.