Semanteon Capital Management LP Invests $1.34 Million in Shoe Carnival, Inc. (NASDAQ:SCVL)

Semanteon Capital Management LP bought a new position in Shoe Carnival, Inc. (NASDAQ:SCVL) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 40,556 shares of the company’s stock, valued at approximately $1,342,000.

Several other large investors have also recently modified their holdings of SCVL. Barclays PLC boosted its position in shares of Shoe Carnival by 189.7% in the third quarter. Barclays PLC now owns 30,342 shares of the company’s stock valued at $1,330,000 after acquiring an additional 19,868 shares during the period. Victory Capital Management Inc. boosted its position in shares of Shoe Carnival by 138.3% in the third quarter. Victory Capital Management Inc. now owns 59,239 shares of the company’s stock valued at $2,598,000 after acquiring an additional 34,382 shares during the period. State Street Corp boosted its position in shares of Shoe Carnival by 2.2% in the third quarter. State Street Corp now owns 793,318 shares of the company’s stock valued at $34,787,000 after acquiring an additional 17,086 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 valued at $2,196,000 after acquiring an additional 6,946 shares during the period. Finally, Hodges Capital Management Inc. boosted its position 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 valued at $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.

Analyst Upgrades and Downgrades

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

Shoe Carnival Stock Performance

SCVL stock opened at $22.44 on Friday. The company has a market capitalization of $609.81 million, a PE ratio of 8.25 and a beta of 1.51. Shoe Carnival, Inc. has a one year low of $20.51 and a one year high of $46.92. The company’s 50 day moving average price is $25.25 and its two-hundred day moving average price is $33.01.

Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Thursday, March 20th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The company had revenue of $262.90 million for the quarter, compared to the consensus estimate of $277.89 million. During the same period in the previous year, the firm earned $0.59 earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, research analysts predict that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival announced that its Board of Directors has approved a share buyback plan on Thursday, December 12th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Shoe Carnival Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a dividend of $0.15 per share. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Monday, April 7th. Shoe Carnival’s payout ratio is presently 19.85%.

Shoe Carnival 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.