Koch Industries Inc. acquired a new stake in Shoe Carnival (NASDAQ:SCVL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,536 shares of the company’s stock, valued at approximately $228,000. Koch Industries Inc. owned 0.05% of Shoe Carnival as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Kennedy Capital Management Inc. grew its position in shares of Shoe Carnival by 20.0% in the fourth quarter. Kennedy Capital Management Inc. now owns 196,711 shares of the company’s stock valued at $5,262,000 after purchasing an additional 32,750 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Shoe Carnival in the fourth quarter valued at $1,128,000. Citadel Advisors LLC grew its position in shares of Shoe Carnival by 39.2% in the fourth quarter. Citadel Advisors LLC now owns 152,856 shares of the company’s stock valued at $4,089,000 after purchasing an additional 43,054 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Shoe Carnival in the fourth quarter valued at $6,858,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Shoe Carnival by 31.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 58,758 shares of the company’s stock valued at $1,571,000 after purchasing an additional 14,034 shares during the period. 78.20% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Clifton E. Sifford sold 7,500 shares of the company’s stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $23.75, for a total value of $178,125.00. Following the completion of the sale, the chief executive officer now owns 238,903 shares of the company’s stock, valued at $5,673,946.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP W Kerry Jackson sold 4,000 shares of the company’s stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $23.82, for a total value of $95,280.00. Following the completion of the sale, the executive vice president now directly owns 131,187 shares of the company’s stock, valued at approximately $3,124,874.34. The disclosure for this sale can be found here. 28.50% of the stock is currently owned by insiders.
SCVL stock traded up $0.08 during trading on Friday, reaching $23.86. 156,157 shares of the stock traded hands, compared to its average volume of 348,624. Shoe Carnival has a 52-week low of $15.07 and a 52-week high of $28.38. The company has a market cap of $393.02, a PE ratio of 16.01, a price-to-earnings-growth ratio of 1.04 and a beta of 0.81.
Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Tuesday, March 27th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.02. Shoe Carnival had a return on equity of 8.02% and a net margin of 1.86%. The firm had revenue of $243.23 million during the quarter, compared to the consensus estimate of $248.19 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. equities analysts predict that Shoe Carnival will post 1.92 earnings per share for the current fiscal year.
Shoe Carnival announced that its Board of Directors has authorized a stock buyback program on Tuesday, December 19th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 23rd. Shareholders of record on Monday, April 9th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Friday, April 6th. Shoe Carnival’s dividend payout ratio (DPR) is presently 20.13%.
A number of equities research analysts have recently commented on SCVL shares. Pivotal Research raised Shoe Carnival from a “hold” rating to a “buy” rating and lifted their price objective for the company from $29.00 to $30.00 in a research report on Friday, March 16th. BidaskClub raised Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Zacks Investment Research downgraded Shoe Carnival from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Jefferies Group reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Shoe Carnival in a research report on Wednesday, March 28th. Finally, TheStreet downgraded Shoe Carnival from a “b” rating to a “c+” rating in a research report on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Shoe Carnival has a consensus rating of “Hold” and an average target price of $26.43.
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Shoe Carnival Profile
Shoe Carnival, Inc, together with its subsidiaries, operates as family footwear retailer in the United States. It provides various dress, casual, and athletic footwear products for men, women, and children, as well as accessories, including socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.
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