Shoe Carnival (NASDAQ:SCVL) Hits New 52-Week Low – Time to Sell?

Shoe Carnival, Inc. (NASDAQ:SCVL)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $20.51 and last traded at $21.24, with a volume of 654021 shares trading hands. The stock had previously closed at $21.38.

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 Price Performance

The company has a market capitalization of $577.20 million, a price-to-earnings ratio of 7.81 and a beta of 1.50. The stock has a fifty day simple moving average of $28.06 and a 200-day simple moving average of $34.74.

Shoe Carnival Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, January 13th were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Monday, January 13th. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.85%.

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

Insider Buying and Selling

In other Shoe Carnival news, Chairman Wayne J. Weaver bought 285,500 shares of Shoe Carnival stock in a transaction dated Friday, December 6th. The stock was 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. This represents a 7.34 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 34.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SCVL. Harvest Fund Management Co. Ltd purchased a new position in shares of Shoe Carnival during the 3rd quarter worth $62,000. Quarry LP acquired a new position in Shoe Carnival in the third quarter valued at approximately $66,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Shoe Carnival during the third quarter worth $76,000. KLP Kapitalforvaltning AS purchased a new position in shares of Shoe Carnival during the 4th quarter worth $99,000. Finally, SG Americas Securities LLC purchased a new stake in Shoe Carnival in the 4th quarter valued at about $178,000. 66.05% of the stock is owned by hedge funds and other institutional investors.

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.