Shoe Carnival (NASDAQ:SCVL) Sets New 52-Week Low – Should You Sell?

Shoe Carnival, Inc. (NASDAQ:SCVL)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $21.73 and last traded at $21.79, with a volume of 22122 shares trading hands. The stock had previously closed at $22.47.

Wall Street Analysts Forecast Growth

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

Shoe Carnival Stock Up 1.4 %

The firm has a 50 day simple moving average of $28.57 and a 200-day simple moving average of $35.11. The stock has a market cap of $601.65 million, a P/E ratio of 8.14 and a beta of 1.50.

Shoe Carnival Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, January 13th were paid a $0.135 dividend. The ex-dividend date of this dividend was Monday, January 13th. This represents a $0.54 annualized dividend and a yield of 2.44%. Shoe Carnival’s dividend payout ratio is 19.85%.

Shoe Carnival declared that its board has approved a stock repurchase plan on Thursday, December 12th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 5.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, Chairman Wayne J. Weaver bought 285,500 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were bought at an average price of $33.91 per share, with a total value of $9,681,305.00. Following the completion of the transaction, the chairman now owns 4,173,529 shares of the company’s stock, valued at $141,524,368.39. This trade represents a 7.34 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 34.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Shoe Carnival

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its position in Shoe Carnival by 189.7% during the third quarter. Barclays PLC now owns 30,342 shares of the company’s stock worth $1,330,000 after buying an additional 19,868 shares in the last quarter. Victory Capital Management Inc. grew its position in Shoe Carnival by 138.3% during the third quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock worth $2,598,000 after buying an additional 34,382 shares in the last quarter. State Street Corp grew its position in Shoe Carnival by 2.2% during the third quarter. State Street Corp now owns 793,318 shares of the company’s stock worth $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 grew its position 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 worth $2,196,000 after buying an additional 6,946 shares in the last quarter. Finally, Hodges Capital Management Inc. grew its position in Shoe Carnival by 20.0% during the fourth quarter. Hodges Capital Management Inc. now owns 581,508 shares of the company’s stock worth $19,236,000 after buying an additional 96,753 shares in the last quarter. Institutional investors and hedge funds own 66.05% of the company’s stock.

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.