Stifel Financial Corp Sells 1,273 Shares of Shoe Carnival, Inc. (NASDAQ:SCVL)

Stifel Financial Corp reduced its stake in shares of Shoe Carnival, Inc. (NASDAQ:SCVL) by 1.7% in the third quarter, Holdings Channel reports. The firm owned 74,323 shares of the company’s stock after selling 1,273 shares during the period. Stifel Financial Corp’s holdings in Shoe Carnival were worth $3,259,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Summit Global Investments purchased a new stake in Shoe Carnival in the 2nd quarter valued at about $244,000. SummerHaven Investment Management LLC boosted its holdings in shares of Shoe Carnival by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 31,550 shares of the company’s stock valued at $1,164,000 after purchasing an additional 402 shares during the period. Innealta Capital LLC bought a new position in Shoe Carnival in the second quarter worth approximately $41,000. Rhumbline Advisers grew its stake in Shoe Carnival by 0.7% in the second quarter. Rhumbline Advisers now owns 56,711 shares of the company’s stock worth $2,092,000 after purchasing an additional 394 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Shoe Carnival by 11.3% during the 2nd quarter. Victory Capital Management Inc. now owns 24,857 shares of the company’s stock worth $917,000 after purchasing an additional 2,530 shares during the period. 66.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com raised Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Saturday, November 30th. Williams Trading increased their target price on shares of Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, August 29th.

Shoe Carnival Stock Up 3.2 %

Shares of NASDAQ:SCVL opened at $36.22 on Wednesday. The firm has a 50 day moving average of $35.99 and a 200 day moving average of $38.55. The company has a market capitalization of $984.28 million, a price-to-earnings ratio of 13.32 and a beta of 1.53. Shoe Carnival, Inc. has a 52 week low of $24.94 and a 52 week high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.71 EPS for the quarter, topping 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 firm had revenue of $306.90 million during the quarter, compared to analyst estimates of $316.97 million. During the same period in the previous year, the company posted $0.80 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, sell-side analysts expect that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Monday, January 13th will be issued a dividend of $0.135 per share. The ex-dividend date is Monday, January 13th. This represents a $0.54 annualized dividend and a dividend yield of 1.49%. Shoe Carnival’s dividend payout ratio is presently 19.85%.

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

Insider Transactions at Shoe Carnival

In other Shoe Carnival news, Chairman Wayne J. Weaver purchased 285,500 shares of the stock in a transaction on Friday, December 6th. The stock was acquired at an average price of $33.91 per share, with a total value of $9,681,305.00. Following the completion of the acquisition, the chairman now owns 4,173,529 shares in the company, valued at $141,524,368.39. The trade was a 7.34 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 34.70% of the company’s stock.

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.