Quantbot Technologies LP Purchases 52,077 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Quantbot Technologies LP boosted its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 15,974.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 52,403 shares of the company’s stock after acquiring an additional 52,077 shares during the quarter. Quantbot Technologies LP’s holdings in Shoe Carnival were worth $1,733,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCVL. Harvest Fund Management Co. Ltd purchased a new position in shares of Shoe Carnival during the third quarter valued at approximately $62,000. The Manufacturers Life Insurance Company raised its holdings in shares of Shoe Carnival by 31.5% in the third quarter. The Manufacturers Life Insurance Company now owns 9,561 shares of the company’s stock worth $419,000 after buying an additional 2,290 shares during the period. FMR LLC lifted its stake in shares of Shoe Carnival by 8.7% during the 3rd quarter. FMR LLC now owns 4,266 shares of the company’s stock worth $187,000 after acquiring an additional 343 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Shoe Carnival by 22.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 59,739 shares of the company’s stock worth $2,620,000 after acquiring an additional 10,924 shares during the last quarter. Finally, Blueshift Asset Management LLC purchased a new position in Shoe Carnival during the 3rd quarter valued at $501,000. 66.05% of the stock is owned by hedge funds and other institutional investors.

Shoe Carnival Price Performance

Shoe Carnival stock opened at $22.27 on Tuesday. The stock has a market cap of $605.19 million, a price-to-earnings ratio of 8.19 and a beta of 1.50. The firm has a 50-day moving average of $24.90 and a two-hundred day moving average of $32.68. Shoe Carnival, Inc. has a 1 year low of $20.51 and a 1 year high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Thursday, March 20th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The firm had revenue of $262.90 million during the quarter, compared to analyst estimates of $277.89 million. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. Shoe Carnival’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 earnings per share. Research analysts expect that Shoe Carnival, Inc. will post 2.6 earnings per share for the current year.

Shoe Carnival Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $0.60 annualized dividend and a dividend yield of 2.69%. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.14. Shoe Carnival’s dividend payout ratio (DPR) is currently 22.39%.

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

Analyst Upgrades and Downgrades

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.