Shoe Carnival, Inc. (NASDAQ:SCVL) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 18.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 215,551 shares of the company’s stock after selling 47,359 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Shoe Carnival were worth $7,130,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Shoe Carnival during the third quarter valued at approximately $62,000. Quarry LP acquired a new position in Shoe Carnival in the third quarter worth approximately $66,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Shoe Carnival in the third quarter worth approximately $76,000. FMR LLC grew its position in Shoe Carnival by 8.7% in the third quarter. FMR LLC now owns 4,266 shares of the company’s stock worth $187,000 after buying an additional 343 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in Shoe Carnival in the third quarter worth approximately $228,000. Institutional investors and hedge funds own 66.05% of the company’s stock.

Shoe Carnival Stock Performance

Shoe Carnival stock opened at $21.52 on Monday. The firm has a market cap of $584.81 million, a price-to-earnings ratio of 7.91 and a beta of 1.50. Shoe Carnival, Inc. has a 1 year low of $20.51 and a 1 year high of $46.92. The firm’s 50 day moving average price is $25.07 and its two-hundred day moving average price is $32.80.

Shoe Carnival (NASDAQ:SCVL) last posted 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. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The firm had revenue of $262.90 million during the quarter, compared to analyst estimates of $277.89 million. During the same quarter last year, the business posted $0.59 EPS. The company’s revenue was down 6.2% on a year-over-year basis. 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 approved a share repurchase program on Thursday, December 12th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Shoe Carnival Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.15 dividend. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, April 7th. This represents a $0.60 dividend on an annualized basis and a yield of 2.79%. Shoe Carnival’s dividend payout ratio (DPR) is currently 22.39%.

Analysts Set New Price Targets

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