Sonora Investment Management Group LLC Boosts Stock Holdings in Shoe Carnival, Inc. (NASDAQ:SCVL)

Sonora Investment Management Group LLC lifted its position in Shoe Carnival, Inc. (NASDAQ:SCVL) by 35.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,956 shares of the company’s stock after acquiring an additional 13,115 shares during the period. Sonora Investment Management Group LLC’s holdings in Shoe Carnival were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SCVL. Pacer Advisors Inc. acquired a new position in Shoe Carnival in the 3rd quarter valued at about $37,440,000. State Street Corp increased its stake 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 acquiring an additional 17,086 shares during the last quarter. Geode Capital Management LLC raised its position in Shoe Carnival by 2.4% in the third quarter. Geode Capital Management LLC now owns 452,548 shares of the company’s stock valued at $19,848,000 after purchasing an additional 10,761 shares during the period. Foundry Partners LLC boosted its stake in Shoe Carnival by 0.6% during the third quarter. Foundry Partners LLC now owns 149,735 shares of the company’s stock worth $6,566,000 after buying an additional 940 shares during the period. Finally, Empowered Funds LLC increased its holdings in Shoe Carnival by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 129,459 shares of the company’s stock valued at $5,677,000 after purchasing an additional 6,566 shares during the last quarter. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Wayne J. Weaver acquired 285,500 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were purchased at an average cost of $33.91 per share, for a total transaction of $9,681,305.00. Following the transaction, the chairman now directly owns 4,173,529 shares in the company, valued at $141,524,368.39. This trade represents a 7.34 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 34.70% of the company’s stock.

Shoe Carnival Price Performance

SCVL opened at $27.75 on Friday. The business has a 50-day moving average of $32.58 and a two-hundred day moving average of $37.29. Shoe Carnival, Inc. has a 12 month low of $25.38 and a 12 month high of $46.92. The stock has a market capitalization of $753.97 million, a price-to-earnings ratio of 10.20 and a beta of 1.52.

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

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

Shoe Carnival Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.95%. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.85%.

Wall Street Analysts Forecast Growth

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

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.