Tectonic Advisors LLC Grows Stake in Shoe Carnival, Inc. (NASDAQ:SCVL)

Tectonic Advisors LLC grew its holdings in Shoe Carnival, Inc. (NASDAQ:SCVL) by 7.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 52,593 shares of the company’s stock after acquiring an additional 3,607 shares during the period. Tectonic Advisors LLC’s holdings in Shoe Carnival were worth $1,740,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SCVL. Barclays PLC lifted its stake in shares of 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 purchasing an additional 19,868 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Shoe Carnival by 138.3% in the 3rd quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock worth $2,598,000 after purchasing an additional 34,382 shares in the last quarter. State Street Corp increased its holdings in shares of Shoe Carnival by 2.2% in the 3rd quarter. State Street Corp now owns 793,318 shares of the company’s stock worth $34,787,000 after purchasing an additional 17,086 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Shoe Carnival by 16.1% in 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 worth $2,196,000 after acquiring an additional 6,946 shares during the period. Finally, Hodges Capital Management Inc. grew its holdings in shares of Shoe Carnival by 20.0% in the fourth quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company’s stock worth $19,236,000 after acquiring an additional 96,753 shares during the period. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Insider Buying and Selling at Shoe Carnival

In other Shoe Carnival news, Chairman Wayne J. Weaver acquired 285,500 shares of the stock in a transaction dated Friday, December 6th. The shares were acquired at an average cost of $33.91 per share, for a total transaction of $9,681,305.00. Following the completion of the transaction, the chairman now directly owns 4,173,529 shares of the company’s stock, valued at approximately $141,524,368.39. The trade was a 7.34 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 34.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Shoe Carnival Price Performance

Shares of SCVL opened at $26.45 on Wednesday. Shoe Carnival, Inc. has a one year low of $25.43 and a one year high of $46.92. The firm has a market capitalization of $718.65 million, a P/E ratio of 9.72 and a beta of 1.50. The business has a fifty day moving average of $32.12 and a 200 day moving average of $36.98.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.01. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The business had revenue of $306.90 million during the quarter, compared to analyst estimates of $316.97 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. Shoe Carnival’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts expect that Shoe Carnival, Inc. will post 2.6 EPS for the current fiscal year.

Shoe Carnival declared that its Board of Directors has approved a stock buyback plan on Thursday, December 12th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are 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. This represents a $0.54 annualized dividend and a yield of 2.04%. The ex-dividend date was Monday, January 13th. Shoe Carnival’s dividend payout ratio is presently 19.85%.

About Shoe Carnival

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.